Aurora Cannabis announces bought deal financing, upsizes to $150 million
Aurora Cannabis entered a bought deal financing worth $125 million, then upsized that funding to $150 million.
Canadian cannabis sales rebound strongly in March to record CA$358.8M
Canadian sales of regulated recreational cannabis hit an all-time high of almost 358.8 million Canadian dollars ($279.6 million) in March, according to Statistics Canada retail sales data released Thursday.
Arizona’s Item 9 Labs strikes $12.8M deal for Canada’s Sessions Cannabis
Item 9 Labs Corp., an Arizona-based company that invests in marijuana-related businesses, signed an agreement to acquire Wild Card Cannabis, which includes Sessions Cannabis, one of the largest franchise MJ companies in Canada.
Canadian cannabis producers’ overdue excise taxes more than triple to CA$52M
Unpaid federal excise duty is piling up in Canada’s cannabis industry, with excise debt more than tripling to 52.4 million Canadian dollars ($40 million) as of March 2022, up sharply from CA$16 million owed in March 2021, according to an MJBizDaily analysis of Canada Revenue Agency data.
Hundreds of cannabis store workers in Quebec go on strike
Upwards of 300 employees at approximately two dozen cannabis stores in Quebec went on strike over the weekend after the province-run Société québécoise du cannabis (SQDC) suspended the union’s leadership, along with 75 employees, over apparent dress-code violations, according to the union representing the workers.
Has Canada reached cannabis retail saturation? Not yet, data firm says
Canada’s cannabis industry has been sounding the alarm about oversaturation of retail stores, with the CEO of Sundial Growers warning of “massive store closures” and some stores closing or going up for sale in Ontario.
However, every Canadian province except Alberta could actually handle more recreational cannabis stores, according to an industry analyst.
Samuel Adams brewer, Entourage Health to launch THC teas in Canada by July
Boston Beer Co. plans to launch nonalcoholic THC-infused teas in Canada by July and is tapping marijuana producer Entourage Health to produce the cannabis.
