CEO of Aussie cannabis firm Cann Group resigns amid ‘new strategic direction’
Cann Group Limited CEO Peter Koetsier is resigning from the Melbourne cannabis company for “family reasons,”
Canadian cannabis companies, trends, and data
Cann Group Limited CEO Peter Koetsier is resigning from the Melbourne cannabis company for “family reasons,”
Imperial Brands has converted more than 123.4 million Canadian dollars ($90.6 million) in total debt to shares of Auxly Cannabis Group, formally giving the British tobacco giant a 19.8% ownership position in the Toronto-based marijuana company.
Germany’s cannabis law took effect Monday, making it the second Group of Seven country to legalize and regulate adult-use cannabis nationally.
Colombia’s medical cannabis exports continued to grow last year, although sales still haven’t reached the level that the country’s operators envisioned.
Rubicon Organics reported a modest profit of 889,166 Canadian dollars ($656,000) in its fourth quarter ended Dec. 31, 2023, but the Canadian cannabis producer’s loss for the fiscal year amounted to CA$1.1 million.
New Zealand medical cannabis company Cannasouth Limited has entered voluntary administration, a process that allows for an administrator to review and rearrange the financial affairs of insolvent or near-insolvent companies.
Ontario’s provincial government is budgeting for a record windfall of more than 600 million Canadian dollars ($442 million) in the next fiscal year from cannabis wholesale profits and its portion of the federal excise tax.