Survey: 69% of Canadian cannabis consumers ‘always’ buy legal products
Canada’s federally regulated marijuana industry captured more illicit-market share than ever in 2023, the government’s annual Canadian Cannabis Survey suggests.
Australian marijuana grower ECS reports record sales of AU$7.3 million in quarter
ECS Botanics Holdings, an Australian medical marijuana cultivator in Victoria, reported a significant jump in revenue to 7.3 million Australian dollars ($6.5 million) in its second fiscal quarter ending Dec. 31.
Ontario’s new cannabis store ownership cap expected to boost M&A
A new regulatory change allowing one company to operate up to 150 recreational cannabis stores in Ontario – a twofold increase from the previous cap of 75 – is expected to benefit large retail chains and drive more consolidation in Canada’s most valuable adult-use market.
Cannabis operator Tilray trims loss to $46 million in quarter on record sales
Canadian cannabis producer Tilray Brands trimmed its loss to $46.2 million (61.6 million Canadian dollars) in the second quarter of its 2024 fiscal year on the back of record net sales.
Troubled cannabis company Canopy Growth raising $30 million
Hard-pressed Canadian cannabis company Canopy Growth Corp. is selling equity for cash, announcing a private placement of shares and warrants to raise $30 million.
Cannabis and accessories distributor Humble & Fume gets creditor protection
Humble & Fume, a Canadian cannabis and accessories distributor, received an initial creditor protection order and intends to go private.
Canada destroyed 3.7 million pounds of unsold, unpackaged cannabis since 2018
Canadian operators destroyed millions of packages of unsold cannabis products and a record amount of unpackaged dried flower in 2022 and the first half of 2023, largely because of years of imbalance in supply and demand, MJBizDaily has learned.
