Consolidation is picking up among Canada’s regulated cannabis retailers as recreational marijuana sales continue their upward monthly trend, with industry insiders predicting more store mergers and acquisitions. The retail M&A trend appears to be driven by a market that’s growing more competitive and crowded in certain areas, large chains attempting to cement their competitive advantage […]
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Marijuana firm Vireo files prospectus to issue up to $200 million in securities
Minneapolis-based Vireo Health International said it has filed a preliminary prospectus in Canada to sell as much as 260 million Canadian dollars ($200 million) in securities if and when market opportunities permit. Such a shelf offering doesn’t mean a company will sell the securities, but it gives a business the option when market conditions are […]
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Supply-demand imbalance grows for Canadian cannabis edibles
Makers of edible cannabis products in Canada continue to stock more goods than they’re able to sell, the latest data from Canada’s cannabis regulator shows. In August, federal license holders, provincial distributors and retailers held almost 10 million packaged units of cannabis edibles in stock, including beverages. That compares with sales that month of roughly […]
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Cannabis delivery, curbside pickup return to Ontario — but for how long?
Private-sector Ontario cannabis retailers might once again offer home delivery and curbside pickup during a monthlong pandemic lockdown in two heavily populated regions, but it remains unclear how long the government will continue allowing those services. “There’s a high possibility that this 28-day lockdown period will be extended … I think we’re certainly expecting to […]
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C-Shop cannabis stores reopen in Newfoundland as strike ends
A strike that shuttered 10 of Newfoundland and Labrador’s 27 licensed marijuana stores has come to an end. The C-Shop cannabis store locations, which are located inside Dominion grocery stores and staffed by Dominion workers, closed in August when more than 1,400 workers launched a strike against store owner Loblaw Cos. According to CBC News, […]
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Canadian legal marijuana sales exceed CA$256 million in September
Canadian sales of regulated cannabis reached 256.3 million Canadian dollars ($196.4 million) in September, a 1.85% increase over August sales as the pace of monthly growth slowed. Statistics Canada’s cannabis sales figures for September were led by Ontario’s 5.3% monthly sales increase to CA$77.9 million. Legal marijuana sales in British Columbia saw the second-largest monthly […]
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Report: Canadian cannabis firms received millions in pandemic subsidies
Cannabis businesses in Canada benefited from millions of dollars in pandemic-related subsidies from the federal government, according to research by the publication The Deep Dive and verified by Marijuana Business Daily. Other businesses tapped into interest-free loans and lending offered by agricultural lender Farm Credit Canada (FCC), according to financial statements. At least 18 cannabis […]
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