Canadian Medical Marijuana & Cannabis Industry News


Beleave joins growing list of Canadian cannabis insolvencies

Beleave has become the latest in a wave of Canadian cannabis companies seeking creditor protection. The Toronto-based company will apply for a creditor protection order from the Ontario Superior Court of Justice on Friday, according to a news release. The company has arranged a debtor-in-possession loan from Hegedus Consulting Service to fund the proceedings under […]

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Aurora Cannabis unloading Alcanna stake for CA$110M less than it paid

Aurora Cannabis is disposing of another investment for a large loss. The Alberta company said it is unloading its 23% stake in Alcanna, one of the largest retailers of alcohol and cannabis in North America. Alcanna and Aurora entered into an agreement with a group of underwriters who agreed to purchase all the common shares […]

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Canada’s haul from cannabis tax reaches CA$32 million

The federal portion of Canada’s cannabis excise duty amounted to 32 million Canadian dollars ($23.7 million) from April 2019 through March 2020, according to new figures from the country’s finance department. Although the cannabis tax revenue represents only a tiny fraction of the Canadian government’s total revenues for the period (CA$334.3 billion), it illustrates growth […]

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Trichome Financial gets court approval to acquire James E. Wagner

Toronto-based cannabis sector financier Trichome Financial Corp. received court approval to complete its acquisition of troubled Ontario marijuana grower James E. Wagner Cultivation Corp. (JWC). JWC entered creditor protection in April. Trichome, which had a debtor-in-possession loan deal with JWC, announced its successful stalking horse bid for the company in May. The total value of […]

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Canadian court OKs sale process for US marijuana firm Green Growth

Beleaguered multistate cannabis retailer Green Growth Brands’ sale and investment solicitation process (SISP) was approved by a Canadian court. Green Growth Brands is based in Columbus, Ohio, but court filings show its parent company is registered in Ontario. The company announced an initial creditor protection order from the Ontario Superior Court of Justice on May […]

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Discipline, innovation drive profit: Q&A with Supreme Cannabis CEO Beena Goldenberg

Veteran consumer packaged goods executive Beena Goldenberg sees parallels between the development of the natural organic food market and the cannabis industry. Rigorous executive discipline, a more thoughtful approach to mergers and acquisitions and targeted product innovation are important factors for corporate success in the cannabis space, she said. Before joining Toronto-headquartered Supreme Cannabis as […]

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Health Canada reinstates some CannTrust cannabis licenses

Federal cannabis licenses for one of CannTrust’s facilities were reinstated, about nine months after the embattled Ontario producer was hit with suspensions over legal and regulatory breaches. In September, Health Canada suspended the licenses held by CannTrust for its Niagara and Vaughan sites over noncompliance with the Cannabis Act and regulations. Now, Health Canada said […]

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Cannabis firm Canopy Growth reshapes strategy after reporting CA$1.3 billion loss

International cannabis giant Canopy Growth Corp. lost ground in Canada’s growing recreational marijuana market in its fourth quarter, with net revenue dropping 13% compared to the previous quarter. Canopy posted a fourth-quarter net loss of 1.3 billion Canadian dollars ($944 million) and an adjusted EBITDA loss of CA$102 million. Recreational marijuana revenue tumbled 28% from […]

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Struggling Canadian cannabis producer pulls out of Jamaica

Cannabis producer The Green Organic Dutchman (TGOD) is no longer pursuing opportunities in Jamaica so it can focus on its struggling Canadian operations, the Mississauga, Ontario-based company said. The company on Tuesday reported quarterly revenue of 3 million Canadian dollars ($2.2 million), while sales in Canada amounted to only CA$660,000 stemming mainly from a limited […]

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Legal cannabis contributes CA$2.3 billion to crop receipts in Canada

A growing cannabis industry helped push positive growth in Canada’s realized net farm income in 2019, according to new data from Statistics Canada. Canada’s national data bureau defines realized net farm income as “the difference between a farmer’s cash receipts and operating expenses, minus depreciation, plus income in kind.” Total farm cash receipts, which measure […]

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British Columbia weighs online sales, delivery for cannabis stores

British Columbia says it is looking into measures to support adult-use cannabis businesses during the COVID-19 crisis, including the possibility of allowing stores to conduct online sales and delivery. Privately owned cannabis stores in the province are allowed to accept product reservations online, but payment must be received in stores. Delivery is not allowed. The […]

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Ontario considering cannabis lounge feedback; ‘no time frame’ for changes

Ontario’s Ministry of the Attorney General is still considering comments and submissions it received for expanding business opportunities in the regulated cannabis industry – including allowing marijuana consumption cafes and special-occasion permits. The public consultation period closed March 10. “While the regulatory registry posting has closed, the Ministry continues to consider comments received through this […]

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