New Brunswick-based cannabis producer Organigram’s net revenue fell to a multiyear low of 14.6 million Canadian dollars ($11.6 million) in its December 2020-February 2021 quarter, the company said Tuesday. Organigram’s revenue has trended lower since reaching an all-time high of CA$26.9 million in the quarter ended Feb. 28, 2019 – the first full quarter of […]
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Aurora Cannabis leads Canada in market share decline while smaller companies gain, report says
Aurora Cannabis surrendered a greater share of Canada’s recreational market last year compared to rival licensed producers – with Canopy Growth not far behind – as the companies look to get back on track after a woeful 2020 that brought major financial losses, according to data contained in a new report. The data – compiled […]
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Aphria loses CA$361 million as cannabis revenue plunges 24%
Leamington, Ontario-based cannabis producer Aphria reported a net loss of 361 million Canadian dollars ($287 million) for the three months ended Feb. 28, 2021, after its marijuana revenue plunged almost 25% over the previous three-month period. That brings Aphria’s loss for the first three quarters of its fiscal year to CA$486.7 million. Overall net revenue […]
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Cannabis retailer High Tide files CA$100 million shelf prospectus
Canadian cannabis retail chain High Tide filed a preliminary short form base shelf prospectus in order to raise up to 100 million Canadian dollars ($80 million) over a 25-month period. After the prospectus is finalized, High Tide may issue securities including shares, warrants, units, subscription receipts, debt securities and convertible securities. The company might use […]
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Health Canada to cease monthly cannabis industry data releases
Canada’s federal health department will no longer be releasing cannabis industry data on a monthly basis, a spokesperson for Health Canada told Marijuana Business Daily, citing priorities related to the ongoing pandemic. “We are working in prioritization mode in order to ensure that information most vital to the wellbeing and safety of Canadians is being […]
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California cannabis firm Glass House Group to be bought in $567M deal
California cannabis company Glass House Group is set to be acquired by a 2-year-old special acquisition company (SPAC) in a blockbuster $567 million deal aimed at creating California’s largest vertically integrated marijuana business.
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Here’s how much legal cannabis is being sold in Canada’s biggest cities
Toronto might boast the most legal cannabis sales of any Canadian city, but its residents lag far behind those in Calgary and even Quebec City when it comes to per-capita spending on recreational products. Data from Canada’s federal statisticians offers early insights into how much legal cannabis is being sold in some of the country’s […]
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