A group comprised of cannabis industry leaders and experts is calling on Ontario’s government to provide a more complete timetable for when retail stores will be permitted through an open allocation of licenses. So far, the province has used a botched lottery system to award opportunities to open recreational marijuana stores. The Ontario Cannabis Policy […]
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Marijuana company Vireo Health wagers on former Canopy co-CEO Linton to expand nationally
To help expand its national footprint, multistate marijuana company Vireo Health International has hired Bruce Linton, one of the biggest names in the cannabis industry and former leader of Canada’s Canopy Growth until his surprise firing in the summer. It’s a high-profile hire for the U.S. cannabis industry, one that many executives and investors across […]
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Tight funding environment weighs on marijuana companies still seeking profit
Which came first? Poor paths to profitability for North American cannabis companies or limited funding for them to build their businesses? The reality: It’s a bit of both. Funding opportunities for marijuana firms do exist, but investors are increasingly unlikely to lend if cannabis companies cannot meet their revenue and profitability targets. Therefore, cannabis businesses trying to […]
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Ontario offers no new details on cannabis retail expansion, will allow ‘click-and-collect’ sales
Ontario’s government is still not releasing key details on when it will significantly expand the number of adult-use cannabis stores, while a new analysis suggests the slow rollout of storefronts has already cost the province’s fledgling industry about 325 million Canadian dollars ($246 million) in foregone revenue. In the Economic Outlook introduced Wednesday in the […]
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Cannabis extraction firm MediPharm seeks Nasdaq listing
Barrie, Ontario-based cannabis extraction company MediPharm Labs has applied to list its shares on the Nasdaq amid a heightened period of volatility for marijuana stocks in North America. If approved for trading, MediPharm would join a growing list of Canadian cannabis companies turning to the top U.S. stock exchanges to tap the globe’s largest pool of institutional […]
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Chart: Year-to-date cannabis investment activity up 40% over 2018, but it’s slowing
Cannabis industry capital investment hit $10.4 billion through week 40 – a 40% increase over 2018 – but the previously hot investment activity has cooled in recent months.
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Shareholders sue Canadian cannabis grower Sundial
Canadian marijuana company Sundial is facing two class action lawsuits filed in the United States by shareholders over hundreds of pounds of alleged “un-sellable” cannabis. The latest suit charged that the company failed to disclose that one client, Vancouver, British Columbia-based Zenabis Global, returned more than 1,200 pounds of marijuana worth $1.9 million (2.5 million […]
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Marijuana companies usher in a new era of collaboration with mainstream players.