Canadian Medical Marijuana & Cannabis Industry News


Week in Review: Canopy Growth closes cannabis grows, COVID-19 reshaping MJ business models, MA rec shops take a hit & more

Canopy Growth’s new CEO said the once high-flying marijuana giant is shuttering additional cannabis cultivation facilities in Africa, Canada, Colombia and the United States. MJBizDaily takeaway: The Canadian company’s retrenchment offers lessons for other cannabis operators with overseas aspirations: There are few federally regulated markets outside Canada that are fully functional today. Most markets, including […]

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COVID-19 sharpens focus on digital cannabis marketing in Canada

A captive audience in search of digital distraction, combined with boosted cannabis demand during the COVID-19 pandemic, means Canada’s marijuana businesses have an opportunity to fine-tune their online marketing and branding strategies, marketing experts say. Even though Canadian cannabis producers and retailers are largely excluded from traditional advertising by law, they can nevertheless employ some […]

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Quebec cannabis sales on pace to exceed CA$300 million for fiscal year

Quebec’s government-run cannabis franchise reported revenue of 110.8 million Canadian dollars ($90 million) for the October-December period, bringing sales for the first three quarters of its fiscal year to CA$219.5 million. That puts the Société québécoise du cannabis (SQDC) on pace to exceed CA$300 million in sales for the year. SQDC is the only legal […]

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Talks underway in Canada to add cannabis to internal free trade deal

Canada’s federal, provincial and territorial governments have launched discussions to incorporate recreational cannabis into a nationwide trade deal, Marijuana Business Daily has learned. However, the talks – which began in December – are expected to be delayed as resources are directed toward fighting the current COVID-19 pandemic. Efforts to incorporate nonmedical cannabis into the Canadian […]

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Toronto Stock Exchange to delist CannTrust shares May 6

Embattled Canadian cannabis producer CannTrust shares will be delisted from the Toronto Stock Exchange on May 6 after market close, according to a TMX Group notice. TMX Group cited CannTrust’s “failure to meet continued listing requirements” as the reason for the action. CannTrust also disclosed the decision in an April 9 news release. In March, the […]

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As outdoor cannabis approvals grow in Canada, COVID-19 not expected to delay planting season

Health Canada approvals for outdoor cannabis cultivation have increased by more than 25% in the past few months, and growers are bullish for now despite the COVID-19 pandemic that’s encroaching into planting season. Canadian outdoor cannabis producers contacted by Marijuana Business Daily said they expect their open-air crops will proceed as usual this year. For example, […]

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Aphria emerges as industry leader, reports fourth profitable quarter in a row

Ontario-based cannabis producer Aphria reported its fourth consecutive quarter of positive adjusted EBITDA, separating itself from competitors that raked up collective net losses exceeding CA$6 billion ($4.4 billion) in recent quarters. Aphria’s adjusted EBITDA – a measure of profitability – for the period ending Feb. 29 rose to CA$5.7 million, up substantially from its CA$2 […]

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Cannabis extractor Valens turns profit but warns of potential COVID-19 fallout

Canadian cannabis extractor The Valens Co. reported its fourth straight quarterly profit, a rarity in a sector that experienced rampant losses throughout 2019 – the first calendar year of legalization. The British Columbia company reported adjusted EBITDA of 14 million Canadian dollars ($10 million) for the December-February period – its first fiscal quarter of 2020. […]

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Organigram posts revenue decline, net loss in second quarter

Organigram Holdings Corp. saw net revenue decline on a quarterly basis in the second quarter of its fiscal year, from 25.2 million Canadian dollars ($18.1 million) in the first quarter of 2020 to CA$23.2 million in the quarter ended Feb. 29. Medical, wholesale and international revenues all declined in the latest quarter, the New Brunswick-based […]

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James E. Wagner Cultivation cannabis assets up for grabs

The assets of Kitchener, Ontario-based cannabis cultivator James E. Wagner Cultivation Corp. (JWC) are up for sale for at least 11.95 million Canadian dollars ($8.61 million), the company said Monday. The company, which recently entered creditor protection as part of a debtor-in-possession loan deal with cannabis sector lender Trichome Financial, saw its sales and investor-solicitation process […]

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