Canadian cannabis companies, trends, and data
Canadian cannabis producer Canopy Growth reached a deal with noteholders to trade 255.4 million Canadian dollars ($198 million) of debt for shares and cash, thereby reducing a substantial portion of its convertible debt set to mature next year.
New York-headquartered cannabis producer Tilray Brands said it will cover travel and accommodation expenses, and provide paid time off, for its United States-based employees who need to travel out of state for reproductive health care.
The Canadian government still has no publicly projected launch date for its mandatory review of the country’s 2018 recreational cannabis legalization law, more than eight months after the reappraisal was due to begin.
Canopy Growth settled a trademark dispute with French orange liqueur producer Rémy Cointreau, which argued that the Canada-based cannabis producer’s line of “Quatreau” beverages infringed on the Cointreau trademark.
Quebec’s government-owned Société québécoise du cannabis (SQDC) cannabis retail monopoly ratified an agreement in principle with a group of workers represented by one union, although a strike by workers represented by another union remains unresolved.
Fitch Ratings downgraded Canadian cannabis producer Canopy Growth to CCC, the agency’s fifth-lowest rating, and warned of potential further negative actions.
Canadian cannabis producer The Flowr Corp. eliminated 40% of its workforce and sold a large parcel of land in a bid to save cash.
