International Marijuana Business News

MJBizDaily launches annual cannabis industry survey to collect key business data

Marijuana Business Daily has launched its seventh annual survey of cannabis industry executives and investors, an undertaking that’s intended to help the Colorado-based company provide key market, financial and operational data for businesses and entrepreneurs. Owners, founders and executives with dispensaries/retail stores, commercial cultivation operations, infused product manufacturers, vertically integrated businesses, testing labs and ancillary firms, […]

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How Canadian firms and money are shaping US cannabis sector: Q&A with The Apothecarium’s Ryan Hudson

Ryan Hudson co-founded The Apothecarium in San Francisco in 2011. On Monday, he agreed to sell the retail company and its assets to a Canadian wellness firm for a cool $118 million to help fuel future growth. Hudson – who will remain The Apothecarium’s CEO – is the latest in a slew of California marijuana executives who’ve sold […]

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San Francisco cannabis retailer acquired by Canada’s TerrAscend for $118M

Canadian marijuana firm TerrAscend announced it will acquire California-based The Apothecarium in a deal worth more than $118 million (157 million Canadian dollars). In a news release, the Toronto-based company said the deal’s terms included $73.7 million in cash plus another $44.7 million worth of stock. In return, TerrAscend will receive: Three retail shops in […]

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Canada still plans to revoke Ascent’s marijuana license; shareholders may meet

Ascent Industries subsidiary Agrima Botanicals failed to demonstrate to federal authorities that a suspension of its cannabis licenses in Canada is unfounded, putting future operations further in doubt, the company said in a statement. Prominent shareholder Drew Malcolm is now asking for a general meeting to consider a resolution to replace the current board with seven […]

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New Brunswick signs new cannabis supplier amid shortage, in talks with others

New Brunswick’s wholesaler of adult-use marijuana signed up another supplier to meet sky-high demand, and the province confirmed it is in talks with other licensed producers to fill a significant supply shortfall. Supreme Cannabis Company subsidiary 7Acres entered into an agreement with the New Brunswick Liquor Corp. (NBLC) to supply an undisclosed amount of marijuana […]

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Belgium considering medical marijuana agency to govern production, distribution

Belgium’s minority government has proposed a law that calls for the establishment of a medical cannabis agency to oversee production and distribution in pharmacies, hospitals and research institutes. If approved, the law would greatly expand access to medical cannabis in the country, though the most important details – including related regulations – are yet to […]

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Ohio cannabis firm Green Growth continues hostile bid after Aphria’s biting rejection

Green Growth Brands said it intends to continue its unsolicited takeover of Aphria even after the Canadian company’s board issued a scathing rejection of the hostile bid, saying it “could destroy value for Aphria shareholders” and calling the offer “opportunistic” and “inadequate.” Ohio-based Green Growth said in a statement Thursday it believes a combination of […]

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Auxly, FSD Pharma end cannabis cultivation venture over contractual disputes

Auxly Cannabis Group, a vertically integrated marijuana company in Vancouver, British Columbia, said Thursday it is ending a joint venture with cultivator FV Pharma, a wholly owned subsidiary of Cobourg, Ontario-based FSD Pharma. The move, linked to contractual disagreements between the two companies and concerns over infrastructure, follows FSD’s claim a day earlier that it […]

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Colombia’s first-ever export of medical cannabis set to ship to Canada

A Colombian marijuana company has received authorization to export product to Canada for testing, a move meant to show that the cannabis grown in the South American nation is “top quality.” Ecomedics S.A.S., which operates as Clever Leaves and is backed by U.S.-based investment firm Northern Swan, has obtained all the necessary approvals to, for […]

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Health Canada suspends Bonify license after review finds it sold illegal cannabis

(This story has been updated to include a statement from the Royal Canadian Mounted Police. – Ed) Health Canada suspended Bonify’s authority to sell marijuana after an investigation found the Winnipeg-based firm possessed, distributed and sold product purchased from an illegal source, the regulatory agency confirmed to Marijuana Business Daily. “Following a review of recent […]

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In wake of Namaste fiasco, Canadian cannabis firms urged to boost corporate governance

An expert in the cannabis industry is urging Canadian marijuana companies to improve corporate governance in the wake of a controversy involving Namaste Technologies and other “unicorn” firms. Toronto-based Namaste on Monday said it removed Sean Dollinger as chief executive officer and director and is commencing legal action against him after a special investigation. The company […]

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