Canada’s plan to apply a scaled tax to new cannabis products based on THC content could end up costing some patients more money and take a toll on the competitiveness of businesses, experts say. The proposed tax of 1 Canadian cent per milligram of total THC will apply to cannabis edibles, extracts and topicals when […]
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Cannabis group Cansortium raises $56 million-plus ahead of IPO
Miami-based Cansortium, a vertically integrated cannabis operator, said it raised just over $56 million in funds ahead of its initial public offering (IPO). The company will use the net proceeds for continued expansion of its medical cannabis operations in Florida, Michigan, Pennsylvania, Texas, Puerto Rico, Canada and Colombia for repayment of debt and for general […]
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Canada clamps down on ‘one-click’ age checks for marijuana promotions
One-click authentications of a website user’s age are not enough to ensure cannabis promotions cannot be accessed by young people, according to Health Canada, and the agency expects regulated parties to take corrective steps “in the coming weeks.” Earlier this month, Canada’s cannabis regulator warned regulated parties of their obligation to comply with the Cannabis […]
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Cannabis financier Gotham Green Partners to invest up to $250 million in MedMen
MedMen, a California-based multistate marijuana operator, said it will receive an investment of up to $250 million from private equity fund Gotham Green Partners (GGP). The investment – a convertible credit facility – is believed to be the largest to date by a single investor in a publicly traded cannabis company with U.S. operations. The money […]
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Cannabis extraction company Nextleaf begins trading on CSE
Vancouver, British Columbia-based Nextleaf Solutions has begun trading on the Canadian Securities Exchange (CSE) under the ticker symbol OILS. The company uses its technology to extract and process cannabinoid distillate, which can be used for premium infused products. Nextleaf said it has completed the construction of an extraction and processing facility in the Vancouver area and […]
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Canadian medical cannabis exports tripled last year, as race for European market position intensifies
Exports of medical cannabis from Canada soared last year as the country’s biggest licensed cannabis companies continued to establish beachheads in new medical markets overseas. Shipments of dried cannabis tripled to 1,460 kilograms (3,219 pounds) in 2018, compared with 500 kilograms in 2017 and only 44 kilograms in 2016. Exports of medical cannabis oil doubled […]
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Weekly Deal Watch: Cultivation, retail continue to dominate capital raises
Through the first two weeks of March, cultivation and retail continued to be the most attractive for capital raises, with the sector raising more than $2.7 billion.
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March Issue
The Farm Bill offers new business opportunities for hemp - plus banking, tax and insurance help.Read the Issue