Canadian Medical Marijuana & Cannabis Industry News

Cannabis oversupply in Canada ‘may be closer than some expect,’ bank warns

One of Canada’s top banks acknowledged the rocky start for the adult-use cannabis industry, but still expects to see “substantial growth” for the rest of the year as supply constraints are alleviated. Scotiabank also warned that the cannabis market will become heavily oversupplied in the medium- to long-term. “Producers we have spoken to are generally […]

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MA authority approves acquisition of Sira Naturals by Canadian marijuana firm

The Massachusetts Cannabis Control Commission approved what is believed to be the first sale of a marijuana business in the state. Sira Naturals, which owns three dispensaries in the Boston area, is being sold to Cannabis Strategies Acquisition, a Toronto-based company that invests in cannabis businesses. Last week, regulators delayed a vote on the deal […]

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South Africa approves continent’s first federal cannabidiol law

A change to South Africa’s medicines law means the country is the first in Africa to carve out a federally approved market for non-prescription CBD. Health Minister Aaron Motsoaledi amended the country’s Medicines and Related Substances Act, 1965, to remove certain cannabidiol preparations for nonserious health claims on the recommendation of South Africa’s Health Products Authority […]

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MMJ expansion moves forward in NJ, cannabis banking, Canada shortages toll & more

New Jersey legislators advance a medical marijuana program expansion, state banking associations get behind federal banking reform, Canada’s cannabis shortage has international implications – plus other important news from around the industry. New Jersey MMJ expansion on track The Garden State’s legislature is moving toward approving a major expansion of its medical cannabis program, which to […]

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TerrAscend reports quarterly net loss on cannabis revenues of CA$14.6 million

TerrAscend, a Toronto-based vertically integrated marijuana company, reported revenues of 14.6 million Canadian dollars ($10.95 million) for the quarter ended March 31, 2019, with a net loss of CA$11.2 million. The company did not report revenues for the comparable quarter in 2018. Its net loss for that period was CA$2.35 million. During the quarter, TerrAscend […]

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Canadian marijuana shortage dampens Aurora’s international sales

(This story has been update to reflect a statement from Aurora on its Nordic 1 facility in Denmark. – Ed.) A shortfall of cannabis in Canada’s regulated market took a toll on the international sales of an industry leader, Aurora Cannabis, according to the company. The Alberta firm’s international medical cannabis sales rose nearly 40% […]

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