Canada’s leading medical cannabis company by revenue is ready to expand into the United States “the moment it becomes allowable,” one of its executives said at MJBizCon in Las Vegas. Marc Lakmaaker, vice president of Alberta-based Aurora Cannabis, discussed the multinational cannabis producer’s plan to enter the world’s largest economy when relevant laws allow it […]
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Aurora ‘expects sufficient supply’ of marijuana to meet adult-use demand
Aurora Cannabis expects to have sufficient supply next year to meet demand in Canada’s shortage-ridden recreational marijuana market, according to a regulatory filing the Alberta company released Monday alongside its quarterly results. Aurora – one of Canada’s largest licensed producers of companies – reported revenue of 29 million Canadian dollars ($21 million) for the quarter […]
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Canada’s LGC buys large stake in Italian ‘cannabis light’ pioneer EasyJoint
Toronto-based investment firm LGC Capital is buying nearly half of Italy’s “cannabis light” pioneer EasyJoint for 4.8 million euros ($7.15 million Canadian dollars) in cash and stock, as the companies set their sights on expansion into the broader European and Canadian markets. LGC will acquire 47% of EasyJoint for 2.56 million euros in cash and […]
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Aphria seeks EU GMP certification before closing deal for German distributor
Aphria, one of Canada’s largest medical cannabis companies, aims to obtain an essential European quality standard certification before closing its deal to buy a large distributor of pharmaceutical products in Germany. Aphria announced last week its intention to buy Densborn, Germany-based CC Pharma for 24.5 million euros ($28 million) in cash on closing and another […]
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92% of licensed marijuana producers pass sales inspection as Health Canada boosts capacity
As Canadian licensed producers of medical cannabis scrambled to increase cultivation capacity in the months leading up to recreational legalization, the agency responsible for regulating marijuana cultivation was busy ramping up inspections and issuing new licenses. Health Canada almost quadrupled the number of presale inspections conducted on licensed producers (LPs) between 2017 and 2018, according […]
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Ontario Cannabis Store sticks to ‘Plan A’ despite lengthy delays
A contingency plan developed by the Ontario Cannabis Store (OCS) to cope with a rotating strike by its exclusive shipper has not been put into action, leading to lengthy shipping delays and thousands of customer complaints. The OCS previously said its contingency plan was “ready in the event orders cannot be fulfilled due to the […]
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US cannabis retailer Green Growth Brands inks CA$30.5 million raise
Ohio-based marijuana retailer Green Growth Brands raised 30.5 million Canadian dollars ($23.2 million) in a private placement ahead of the firm’s planned trading debut in Canada later this month. The raise follows a CA$85 million private placement inked in September and brings Green Growth’s total raises to more than CA$140 million. The firm plans to use the […]
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November/December Issue
Growing Ambition. Companies leverage capital, partnerships and diversification to expand beyond state lines.Read the Issue