Cannabis Industry & Marijuana Business Briefs

Opportunity: New Brunswick to sell its 20 government-owned cannabis stores

New Brunswick’s government is getting out of the cannabis retail business, presenting an opportunity for the private sector. The province issued a request for proposals to sell its 20 government-owned Cannabis NB retail locations to a single private operator in the new year. New Brunswick is looking for a quick sale, indicating that applicants have […]

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Western Australia cuts red tape for medical cannabis in boost for patients, industry

Australia’s westernmost state is making it easier for patients to access medical cannabis. Western Australia said it will allow general practitioners to prescribe medical marijuana without the need for referral to a specialist, bringing the state in line with other jurisdictions, including New South Wales, Queensland and Victoria. The state is expected to see a […]

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Proposed law in North Macedonia to allow cannabis flower export shelved

A North Macedonian draft bill that proposed modifications to the current medical cannabis framework has been removed from parliament’s agenda, according to Telma Television. The bill would have created a legal framework for the export of cannabis flower, which is currently not possible. That means local companies that have been stockpiling flower for export are going to […]

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Canadian, overseas medical cannabis sales drive Tilray’s revenue higher

British Columbia-based cannabis producer Tilray reported third-quarter revenue of $51.1 million (CA$67.8 million), a 408% jump from the same period a year earlier. Tilray also booked an 11% improvement from the second quarter’s $46 million, in line with consensus estimates. The higher revenue was driven by medical sales in Canada and overseas. Bulk shipments of […]

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Canadian cannabis firms rapped over ‘deficient’ corporate governance disclosures

Canada’s securities watchdog is warning the nation’s cannabis businesses of “deficient” corporate governance disclosures and urging them to address concerns related to potential conflicts of interest. The Canadian Securities Administrators (CSA) issued a notice providing guidance related to the disclosure of financial interests in the context of mergers and acquisitions, as well as the independence […]

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Cronos to convert some cultivation space, reports revenue growth

Ontario-based Cronos Group reported quarterly revenue of 12.7 million Canadian dollars ($9.6 million), an improvement over the previous quarter’s CA$10.2 million but slightly lower than consensus estimates. The cannabinoid company’s adjusted EBITDA loss widened quarter-over-quarter to CA$24 million. Cronos said it shipped 3,142 kilograms (6,927 pounds) of cannabis in the third quarter, double the amount […]

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Organigram blames Ontario’s slow retail build-out in lower revenue guidance

Citing Ontario’s slow cannabis retail build-out, Organigram Holdings issued revenue guidance for expected fourth-quarter net revenue of 16.3 million Canadian dollars ($12.3 million), a substantial decline from the previous quarter’s CA$24.8 million. Analysts had expected the New Brunswick producer to report quarterly net revenue of about CA$27 million. That prompted a downgrade from Bank of […]

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Jamaica plans cannabis regulations overhaul, blueprint for industry support

Jamaica plans to overhaul the interim regulations governing legal marijuana businesses and create a national road map to support the development of the island’s regulated industry. The support could help businesses overcome obstacles hindering the sector’s growth, which include banking issues and finding markets for products. The Agriculture Ministry (MICAF) will reconstitute the National Cannabis Advisory […]

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