Canada Marijuana News

Demand high for Saskatchewan’s 51 retail marijuana licenses

Interest in Saskatchewan’s recreational marijuana market is booming. The province received over 1,500 submissions for 51 licenses to sell recreational cannabis in the province when it becomes legal. The licenses will be doled out via a lottery after an initial screening. Saskatchewan’s business-friendly framework for recreational cannabis sales calls for the establishment of 51 privately owned […]

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Canada’s CannaRoyalty continues California cannabis investment spree

CannaRoyalty signed a multimillion-dollar deal to acquire FloralCal Farms, a move that expands the Ontario-based firm’s California portfolio. Highlights of the transaction include: Total purchase price of Sonoma County-based FloralCal includes 1.3 million Canadian dollars ($1 million) in cash and 3.5 million shares of CannaRoyalty. CannaRoyalty will provide an additional CA$3.8 million in cash and 3.5 million […]

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US-focused marijuana company agrees to purchase Canadian grower

A Toronto-based marijuana company focused on U.S. recreational and medical cannabis markets plans to spend about 23 million Canadian dollars ($18.3 million) in cash, stock and warrants to acquire a small licensed producer in Ontario. MPX Bioceutical agreed to acquire Peterborough-based Canveda for CA$3 million in cash, CA$15 million in stock plus the issuance of 6 […]

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After decriminalizing cannabis, Antigua preps full legalization

One month after decriminalizing cannabis, the tiny Caribbean nation of Antigua and Barbuda is drafting legislation to legalize recreational and medical marijuana sales. The Misuse of Drugs (Amendment) Act, 2018, published in the Official Gazette on March 5, amends the Misuse of Drugs Act to state that “a person who is in possession of a maximum […]

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Aurora to build Alberta marijuana production facility with eye on exports

One of Canada’s top licensed producers unveiled plans for its largest cultivation facility, with a “significant proportion” of the new production slated to address a “massive” supply shortfall for medical cannabis overseas. Aurora Cannabis plans to build the 1.2-million-square-foot facility in Medicine Hat, Alberta, to take advantage of the “sunniest city in Canada” and save […]

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Canadian cannabis companies find funding alternative with debt financing

Canada’s capital-hungry cannabis companies are increasingly turning to debt financiers to fuel growth as the country marches toward legalization late this summer. With no marijuana sales yet and lingering regulatory hurdles, some lenders – namely the big banks – have been hesitant to step in. That has allowed firms like Cannabis Wheaton, CannaRoyalty’s Trichome Yield […]

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Canopy doubles Canadian cannabis production capacity, makes Czech acquisition

Ontario-based Canopy Growth continued its aggressive expansion, both domestically and internationally, further cementing its position as a leader in the global cannabis industry. Gearing up to meet rising demand for medical cannabis and national legalization later this year, Canopy is nearly halfway to its goal of 5.6 million square feet of licensed production capacity in […]

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Canadian coffee giant partners with marijuana company to create recreational stores

The second biggest coffee retail chain in Canada is partnering with a Canadian health care clinic to develop a network of cannabis stores. Second Cup Ltd., based in Mississauga, Ontario, announced it will partner with Ottawa-based National Access Cannabis Corp., which specializes in prescribing medical cannabis, to build a network of “NAC-branded recreational cannabis dispensaries” […]

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Cannabis firm MedMen outlines plans to go public in Canada

It’s no secret that Los Angeles-based MedMen has plans to go public in Canada. But this week, the multistate marijuana company fully outlined how it expects to achieve that goal: a reverse takeover. MedMen has signed a letter of intent with Toronto-based OutdoorPartner Media Corp. to combine the two firms’ business operations under the MedMen […]

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Expanding after launch: Q&A with Van der Pop’s April Pride

April Pride originally wanted to sell “beautiful products” for storing and sharing marijuana. She launched her Seattle-based company, Van der Pop, in January 2016 with the aim of putting together a cannabis paraphernalia business. But she quickly pivoted to a female-focused lifestyle brand. Van der Pop’s website offers women: Marijuana-related advice. An online store selling […]

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Canada’s cannabis oil exports rise 300%, boosted by German demand

Exports of medical cannabis oil from Canada had a breakout year in 2017 – and executives say it is just the start for a massive new overseas market.

Medical cannabis exports in oil form rose 300% from 2016 levels, according to data shared with Marijuana Business Daily by Health Canada. Analysts expect this trend to continue as countries legalizing medical cannabis look to imports to meet demand in lieu of domestic cultivation.

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Quebec inks ‘bombshell’ supply deals for 359 tons of cannabis

Canada’s second-largest province by population signed multiyear supply deals with six licensed cannabis cultivators for its recreational market, a move that provides much needed certainty for businesses and investors, analysts say. The six companies will supply an aggregate of approximately 325,000 kilograms (359 tons) of cannabis over the life of the deals. Quebec-based Hydropothecary got the […]

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