Canada’s adult-use marijuana sales jumped 14% in May on the back of new store openings in British Columbia and Ontario, and longer store hours in Quebec – three markets that account for about three-quarters of the country’s consumers. Across the country, sales improved to 85 million Canadian dollars ($65 million) in May, up from CA$74 […]
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Deal Watch: Big players are behind marijuana M&A deals
Last week wasn’t the busiest for completed M&A deals in the cannabis industry, but some notable transactions were concluded – including one involving a well-established multistate operator (MSO) and another a relatively new but fast-emerging player on the scene.
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Aurora sole winner of Italian medical cannabis tender, but average price is low by most standards
Aurora Deutschland – the German subsidiary of Alberta-based Aurora Cannabis – won all three “lots” to supply Italy with a total of 400 kilograms (880 pounds) of medical marijuana over two years, the Italian government announced. But the award may come at a cost for the Canadian company: The average price it offered – 1.73 euros […]
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Cannabis firm Valens beats expectations with CA$8.8 million quarterly revenue
Valens GroWorks’ revenue shot up nearly threefold to 8.8 million Canadian dollars ($6.7 million) in the last fiscal quarter on strong demand for its white-label services ahead of Canada’s infused cannabis market launch later this year. The revenue was ahead of analyst expectations. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) came in at […]
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Canadian marijuana firm Organigram reports improved quarterly revenues, net loss
Organigram, a Canadian cannabis producer that trades on a major U.S. exchange, reported net revenues of 24.8 million Canadian dollars ($18.6 million) for the fiscal third quarter ended May 31, up from CA$3.44 million in the same period last year. Net loss for the quarter for the New Brunswick-based company was CA$10.2 million, compared with […]
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Marijuana Business This Week: Utah selects growers, CBD comment period ends, NJ to post MMJ apps & more
Here are some notable stories and events in the cannabis industry to watch for in the coming days.
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British Columbia slow to call for infused cannabis products as launch date nears
With fewer than 100 days to go before the launch of Canada’s hotly anticipated infused cannabis market, British Columbia’s government-run wholesaler has yet to issue a call for any new products. The BC Liquor Distribution Branch (LDB) – the monopoly wholesale distributor of nonmedical cannabis in the province – said on July 9 it did […]
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July Issue
U.S. cannabis companies willing to work at it will find ample opportunities to raise money.Read the Issue