Canadian Medical Marijuana & Cannabis Industry News

Will Horgan deliver for cannabis sector in 2020? Experts offer policy ideas for British Columbia’s premier

British Columbia has thus far failed to transition much of the thriving noncompliant cannabis market into the regulated fold. The province’s dismal sales through legal channels reached only 12 million Canadian dollars ($9 million) in August, suggesting something is not quite right with the province’s approach to cannabis policy. Indeed, while British Columbia has opened the […]

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Analyst warns of shelved expansion, restructuring as cannabis firms ‘teeter on edge’

The number of Canadian cannabis producers with fewer than six months of cash on hand has increased over the past quarter, reflecting disappointing earnings and front-loaded capital expenditures, according to an analyst. Greg McLeish of the Toronto office of Mackie Research Capital found that 25 companies are down to half-a-year of cash when capital expenditures […]

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New Brunswick’s cannabis sales see slight improvement ahead of ‘system reset’

New Brunswick’s adult-use cannabis sales surpassed 26 million Canadian dollars ($20 million) for April 1-Dec. 1, 2019, according to recently released data on the province’s tenders portal. That means New Brunswick’s second-half sales (CA$17 million, not including December) are on pace to surpass first-half receipts, which totaled CA$18.8 for January-March and April-June, respectively. Consumers continued to show […]

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Former Starbucks president takes Supreme Cannabis reins on interim basis

Supreme Cannabis Company has parted ways with another chief executive, with Navdeep Dhaliwal leaving the Toronto-based company effective immediately. Dhaliwal took over as CEO in September 2018. The board appointed its director, Colin Moore, a former Starbucks Canada president, as interim CEO. Supreme said it is engaging an executive search firm to identify a permanent […]

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Ontario’s cannabis processors, micros not barred from farm-gate retail

Ontario’s provincial cannabis law does not prohibit federally licensed cannabis processors and micro-class businesses from opening farm-gate stores, the Ministry of the Attorney General confirmed to Marijuana Business Daily. However, standard processors will still need to sell and repurchase their product via the provincial wholesaler before it can be sold in their stores. The province’s 2018 […]

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Israel’s Canndoc signs deal with Tilray to import medical cannabis

Israel-based Canndoc has entered into an agreement to import 2.5 tons of medical cannabis into Israel to address the supply shortage in that country. The cannabis will originate from Canadian producer Tilray’s facility in Portugal, the company said in a news release. The first shipment is expected to arrive early this month. As part of […]

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Heavenly Rx expands footprint by acquiring American CBD maker

Heavenly Rx, a CBD maker based in Toronto, on Tuesday announced the acquisition of a privately held CBD manufacturer in the United States. The purchase of Paradise Valley-based PureKana expands Heavenly Rx’s reach into Arizona and continues a recent string of acquisitions by the Sol Global Investments subsidiary. Heavenly Rx most recently added to its portfolio in […]

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Top 10 global cannabis stories of 2019: WHO backs rescheduling, Linton out at Canopy, Canadian firms eye US & more

Cannabis markets in Canada and elsewhere in the world went on a roller-coaster ride in 2019, as irrational expectations gave way to more realistic market assessments. Global medical marijuana markets, corporations and top executives experienced breakthroughs and setbacks this past year. That’s the gist of the 10 most widely read business stories carried by Marijuana Business Daily […]

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Cannabis firm Hexo moves head office from Quebec to Ontario

Quebec’s largest federally licensed cannabis producer has moved its corporate head office from Gatineau, Quebec, to its existing office in Ottawa, Ontario. Hexo Vice President of Communications Isabelle Robillard wrote in an email to Marijuana Business Daily that the company tried to avoid the administrative change, but “this choice was imposed on us as we are […]

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Emerald pulls plug on affiliate’s federal cannabis license to decrease risk

British Columbia-based Emerald Health Therapeutics has requested that Health Canada not continue with a cannabis processing license for one of its subsidiaries as part of a strategy to decrease unnecessary regulatory risk. Federal cannabis licenses were highly valued commodities in recent years, but their worth has waned as the number of permits has swelled to […]

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Week in Review: Aurora Cannabis execs depart, Curaleaf raises $275M in debt, IL readies for adult-use MJ sales & more

Aurora Cannabis loses two of its most important executives at a crucial time as the company continues to struggle, Curaleaf secures $275 million in debt from a group of lenders, Illinois recreational marijuana retailers get ready for large customer turnout and high demand for New Year’s Day launch – and more of the week’s top MJ business news. […]

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