International Marijuana Business News

Mexico has over a month to legalize recreational cannabis, with 10 proposed laws in the mix

With a court-ordered deadline to legalize recreational cannabis in Mexico approaching next month, parliamentarians have no fewer than 10 proposed laws to scrutinize. It is anyone’s guess which one will come out on top. But the clock is ticking, with lawmakers facing a little more than a month to pass legalization legislation. Mexico would become […]

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Securities regulator accuses former Canadian Cannabis Corp directors of fraud

Former directors and officers of a Toronto-based cannabis company have been accused by Ontario’s securities regulator of defrauding investors. Canadian Cannabis Corp said Tuesday it received a Statement of Allegations from the Ontario Securities Commission (OCS). According to a report by BNN Bloomberg, the OCS accused the company’s former chief executive and two vice presidents […]

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Cresco Labs, Origin House near closing cannabis deal

Cresco Labs, the Chicago-based multistate marijuana operator, said its acquisition of Canada’s Origin House, a major MJ distributor in California, is significantly closer to completion following further compliance with antitrust requirements. The two companies are now set to compete the transaction by Nov. 15 at the latest. Cresco agreed to acquire Origin House, based in […]

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Reports: Former cannabis heavyweight Tikun Olam to sell Israeli assets for $42 million

Tikun Olam, once one of the world’s leading medical cannabis companies, is selling its domestic assets for $42 million – or about half of its asking price of $100 million – according to Israeli media reports. Cannbit Pharmaceuticals has reportedly agreed to buy Tikun Olam’s operations in Israel. Rivals Bazelet Group and InterCure were also […]

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Health Canada suspends British Columbia cannabis producer Evergreen’s licenses

(This story has been corrected from a previous version to reflect that CannTrust’s license has not been suspended.) Another cannabis company has been penalized by Health Canada for alleged regulatory violations. British Columbia-based Evergreen Medicinal Supply was sanctioned Aug. 9 over noncompliance with federal law and regulations, according to Health Canada, which did not list […]

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Paraguay to open application process for medical cannabis production licenses in October

Paraguay plans to open up the application process next month for businesses seeking to secure a production license for the country’s new medical cannabis industry. The nation’s health minister, Julio Mazzoleni, announced during a press conference on Thursday the approval of a resolution establishing the guidelines to apply for the first commercial production licenses. Five vertically integrated […]

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Teva Israeli subsidiary signs cannabis distribution deal

A subsidiary of multinational pharmaceutical giant Teva Pharmaceuticals signed a deal with Israeli medical marijuana company Canndoc to distribute its products to pharma customers that include pharmacies and hospitals. While the deal is not exclusively for products in Israel, it will start there and move to other countries once it becomes logistically legal to do […]

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Aurora plots ‘significant’ US marijuana entry in ‘very short period’

Canada’s largest medical cannabis company by revenue and production is planning to make a “significant” splash in the near future on another point of entry in the U.S. market, one of the company’s executives said in an interview. Aurora, based in Edmonton, Alberta, already has arms-length involvement in the United States through Australis Capital, a […]

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Medical cannabis sales stall in Canada after adult-use legalization; affordability, access also considered factors

(This story has been updated to correct a currency conversion.) Monthly sales of medical cannabis in Canada dropped almost 25% in June from October 2018 – when adult use was legalized – according to the latest data from Health Canada. The new data also underscores challenges facing businesses focused on addressing demand in the medical […]

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Aurora Cannabis reports revenue of CA$99 million, a 418% jump

Alberta-based Aurora Cannabis reported net revenue of 99 million Canadian dollars ($75 million) in its most recent quarter, a 418% increase from CA$19 million in the same quarter last year. However,  international sales amounted to only CA$4 million in Aurora’s fiscal fourth quarter, which ended June 30. Aurora saw improvements across the board in its […]

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