Former directors and officers of a Toronto-based cannabis company have been accused by Ontario’s securities regulator of defrauding investors. Canadian Cannabis Corp said Tuesday it received a Statement of Allegations from the Ontario Securities Commission (OCS). According to a report by BNN Bloomberg, the OCS accused the company’s former chief executive and two vice presidents […]
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CannTrust’s cannabis licenses suspended by Health Canada
Citing noncompliance with Canada’s federal cannabis law and regulations, embattled producer CannTrust says it has received a Notice of License Suspension from Health Canada.
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Reports: Former cannabis heavyweight Tikun Olam sells Israeli assets for $42 million
Tikun Olam, once one of the world’s leading medical cannabis companies, sold its domestic assets for $42 million – or about half of its asking price of $100 million – according to Israeli media reports. Cannbit Pharmaceuticals has reportedly agreed to buy Tikun Olam’s operations in Israel. Rivals Bazelet Group and InterCure were also in […]
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Health Canada suspends British Columbia cannabis producer Evergreen’s licenses
(This story has been corrected from a previous version to reflect that CannTrust’s license has not been suspended.) Another cannabis company has been penalized by Health Canada for alleged regulatory violations. British Columbia-based Evergreen Medicinal Supply was sanctioned Aug. 9 over noncompliance with federal law and regulations, according to Health Canada, which did not list […]
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Aurora plots ‘significant’ US marijuana entry in ‘very short period’
Canada’s largest medical cannabis company by revenue and production is planning to make a “significant” splash in the near future on another point of entry in the U.S. market, one of the company’s executives said in an interview. Aurora, based in Edmonton, Alberta, already has arms-length involvement in the United States through Australis Capital, a […]
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Medical cannabis sales stall in Canada after adult-use legalization; affordability, access also considered factors
(This story has been updated to correct a currency conversion.) Monthly sales of medical cannabis in Canada dropped almost 25% in June from October 2018 – when adult use was legalized – according to the latest data from Health Canada. The new data also underscores challenges facing businesses focused on addressing demand in the medical […]
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Aurora Cannabis reports revenue of CA$99 million, a 418% jump
Alberta-based Aurora Cannabis reported net revenue of 99 million Canadian dollars ($75 million) in its most recent quarter, a 418% increase from CA$19 million in the same quarter last year. However, international sales amounted to only CA$4 million in Aurora’s fiscal fourth quarter, which ended June 30. Aurora saw improvements across the board in its […]
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September Issue
The emergence of more overseas cannabis markets offers companies billions of dollars in business opportunities.Read the Issue