International Marijuana Business News

Canadian beer sales continue slide in face of rising cannabis sector

The Canadian beer market suffered its biggest decline in years in 2019 as competition increased from other beverage categories and an expanding cannabis industry. Sales of domestic and imported beer fell 3% last year from 2018, the steepest decline in at least seven years, according to data from industry group Beer Canada. Domestic beer sales […]

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New Zealand hosts medical cannabis workshops for industry, aboriginal stakeholders

New Zealand regulators are hosting a series of workshops starting this week to give aboriginal and industry stakeholders the information they need to prepare applications for federal medical cannabis licenses – including cultivation, research and supply. The workshops will take place in February and March at six locations throughout the country. A session for Maori […]

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Approvals soar for outdoor cannabis cultivation in Canada, with 100-plus applicants in line

As a growing number of Canadian cannabis cultivators retreat from costly greenhouse expansions, more applicants than ever are readying lower-cost outdoor projects. The number of authorizations to cultivate marijuana outdoors doubled to 33 so far this year from last summer’s 17, according to new figures from Health Canada. Ten of those are microcultivators, meaning they’re […]

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Canadian cannabis firm Canopy sees stock soar on revenue growth

Canadian marijuana giant Canopy Growth on Friday reported fiscal third-quarter net revenue that soared 62% from the second quarter, jumped 49% from its third quarter in 2019 and drove up its stock by double-digit figures. The Ontario-based company, which has an estimated 22% share of the Canadian recreational marijuana market, reported revenues of 123.8 million Canadian dollars […]

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Former UN drug policy chief joins Thai cannabis company as president

A former head of the United Nations body responsible for international drug treaty compliance has been hired as president of Thailand’s leading medical cannabis company, lending a significant voice to the global credibility of the industry, especially in Asia, according to experts. Viroj Sumyai will take the reins of Thai Cannabis Corp., effective immediately. “Over […]

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Canadian cannabis company Invictus granted creditor protection

Another Canadian marijuana producer is in financial straits. Vancouver, British Columbia-based Invictus Group has been granted creditor protection so it can conduct a strategic review to address near-term liquidity issues. Analysts have warned that a growing number of cannabis companies are quickly running out of cash, reflecting disappointing earnings and front-loaded capital expenditures. In December, Canadian producers AgMedica […]

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Aurora Cannabis reports steep loss, production drop and higher costs

One week after announcing a transformation plan that involved the departure of its founding CEO, Aurora Cannabis on Thursday reported a net loss of 1.3 billion Canadian dollars ($980 million) for its second quarter, fueled by write-downs worth almost CA$1 billion. The Alberta, Canada, company’s quarterly revenue fell sharply for the period ending Dec. 31, […]

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German insurer paints picture of nation’s growing medical cannabis industry

Applications for reimbursement of medical cannabis expenses by Germany’s second-largest health insurer doubled from 2017 to 2019, signaling robust growth in the use of the drug. Flower remained one of the most prescribed cannabis products, according to data provided in a new release by German insurer Barmer. Assuming trends witnessed by Barmer are representative of the overall […]

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Alberta set to roll out recreational cannabis vapes ‘in next couple of weeks’

Alberta has notified its 416 adult-use cannabis retailers they will be able to order vape products from the provincial wholesaler as early as this week, opening the door to sales within the next two weeks. Most provinces in Canada saw a limited roll-out of vape products in January, but Alberta delayed release of the products to […]

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