International Marijuana Business News

Cannabis retailer Green Growth inks first equity raise

Ohio-based Green Growth Brands, which last month agreed to buy a multistate operator that sells both medical and recreational marijuana, completed an initial equity raise for 50.2 million Canadian dollars ($37.8 million). Green Growth said in a statement that the raise is intended to fuel expansion, much like the company’s $310 million purchase in July of Moxie. […]

Read More

Ontario planning to allocate cannabis store permits ‘based on market demand’

(This story has been updated to include further commentary from the Ministry of the Attorney General.) Regulators in Canada’s largest cannabis market are working to return to the current government’s original plan of allocating adult-use marijuana store licenses based on market demand, a move that would unlock significant opportunities for the province’s marijuana entrepreneurs. Ontario so […]

Read More

Cresco Labs reports increased marijuana revenue, net quarter loss

Cresco Labs, a multistate cannabis company based in Chicago, on Wednesday reported revenue of $29.9 million for the second quarter, up 253% from the same period a year ago. Net loss for the quarter, ending June 30, was $3.9 million, compared with net income of $1.6 million for the prior-year period. Cresco trades on the Canadian […]

Read More

Linton continues investing in marijuana giant Canopy after dismissal

Bruce Linton, the former co-CEO of Canopy Growth who was fired by the Canadian company last month, on Tuesday told CNBC’s “Squawk Box” he has since acquired more shares in the cannabis giant. “It was a right time for them to make the change, and it was the right time to buy the stock,” Linton said […]

Read More

Sources: Lesotho’s draft cannabis regulations to be ‘grandfathered in,’ giving existing firms an edge over new entrants 

Sweeping changes to Lesotho’s cannabis regulations are set to go into effect later this year and are expected to be grandfathered in, meaning existing businesses will be exempted from the most burdensome parts of the new rules, according to government and industry sources. Marijuana Business Daily recently reported that the southern African country is planning […]

Read More

Germany gains new supplier of medical marijuana flower

It’s been an eventful week for German medical cannabis distributor Iuvo Therapeutics. First, the Neuss-based company received its first international shipment of dry cannabis flower from Canada-based TerrAscend. Then, Iuvo Therapeutics announced it was being acquired by London-based cannabis firm Wundr Co. “In the upcoming weeks – and together with our new team from Wundr – Iuvo will continually scale up […]

Read More

Barbados latest Caribbean country to propose sweeping medical cannabis law

A law was introduced in the Barbados House of Assembly to establish the legal foundation for a local medical marijuana industry. If the law is adopted, Barbados will join other Caribbean countries Jamaica, St. Vincent and the Grenadines as well as Antigua and Barbuda in approving cannabis cultivation. A law is also in the works in Saint Kitts and Nevis. The […]

Read More

Barbados procuring medical cannabis for first imports in April

The Barbados Drug Service is inviting companies to submit applications to supply the nation with approved medical cannabinoid products starting April 2020 and lasting through March 31, 2022. The requested products are not legally available in the eastern Caribbean nation at this time. Separately, a bill was introduced in the country’s parliament this week to […]

Read More