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Cannabis giant Canopy cites ‘spreadsheet error’ for under-reporting adjusted EBITDA

Canada’s leading cannabis company, Canopy Growth, was forced to refile its management discussion and analysis (MD&A) with the Canadian Securities Administrators to correct adjusted earnings before interest, tax, depreciation and amortization (EBITDA). The original MD&A stated that the adjusted EBITDA loss for the nine months ended Dec. 31, 2018, was 69 million Canadian dollars (CA$52 […]

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Report: Largest marijuana firms already control most of Canada’s regulated adult-use market

Canada’s largest licensed cannabis producers already have a stranglehold on the country’s regulated recreational market just four months into legalization, according to analysts. Canaccord Genuity estimates Canopy Growth and Aurora Cannabis combined represented almost 50% of the sales volume in the first three months of legalization. “After including estimated contributions from Tilray and Aphria, we […]

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Tilray to accelerate expansion into CBD with Manitoba Harvest acquisition

Cannabis giant Tilray is expanding into the natural foods category with the acquisition of hemp foods company Manitoba Harvest for 419 million Canadian dollars ($319 million) in cash and stock in an effort to capitalize on cannabidiol-infused products in North America. The acquisition will accelerate British Columbia-based Tilray’s expansion into the U.S. and Canadian markets […]

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Canadian government contracts up for grabs for cannabis businesses

From same-day delivery service in Ontario to paper bags for BC Cannabis Stores, millions of dollars in provincial government contracts are up for grabs for businesses looking to capitalize on legal marijuana. It’s especially important for Canadian businesses to pay attention to the calls for public tender – the invitation to bid to provide services […]

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Cannabis e-commerce firm Namaste reaches settlement with fired CEO

Namaste Technologies said it has reached “a mutually agreed upon settlement” with former chief executive Sean Dollinger in which the firm’s co-founder will step down from all formal roles with the company, including as a director. Dollinger will remain with the Toronto-based marijuana e-commerce company in an advisory role to provide transition support to the […]

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Canadian marijuana firm Aphria to improve corporate practices after investigation

Ontario-based cannabis operator Aphria pledged to improve its management practices after an independent investigation found some of its directors had conflicts of interest related to the 2018 acquisition of  LATAM Holdings. While the purchase price of the assets in Argentina, Jamaica and Colombia was deemed to be reasonable – albeit at the top of the […]

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