International Marijuana Business News

Harvest Health & Recreation reports improved marijuana revenue, net quarter loss

Arizona-based Harvest Health & Recreation, a major multistate operator, reported revenue of $26.6 million for the second quarter, a 153% jump from the $10.5 million booked in the same period last year. Net loss for the second quarter, ending June 30, totaled $20.6 million compared with net income of $2.83 million for the same period […]

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Cannabis firm Trulieve reports strong revenue growth in second quarter

Trulieve Cannabis Corp., a Florida-based multistate operator, reported record revenue of $57.9 million for the second quarter, up 149% compared with $23.3 million during the same period a year ago. Revenue for the six-month period ended June 30 totaled $102.4 million, nearly triple the $38.5 million the company posted during the second quarter last year. […]

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Marijuana giant Canopy’s revenues soar, but losses widen

The world’s largest marijuana company, Canopy Growth, on Wednesday reported improved revenue in its latest quarter, but its losses widened substantially from the same period a year ago. Smiths Falls, Ontario-based Canopy saw revenue rise 250% in the first fiscal quarter of 2020 to 90.5 million Canadian dollars ($67 million) compared with the same period […]

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Cannabis firm Tilray’s revenue up, but wider loss reported

Canadian marijuana company Tilray on Tuesday reported revenue of 60.9 million Canadian dollars ($45.9 million) for the second quarter, up almost four times from the same period in 2018. Net loss for the period, which ended June 30, was $35.05 million compared with a $12.83 million loss in the second quarter 2018. Tilray, based in […]

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Acreage reports improved cannabis revenue, net loss for quarter

Acreage Holdings, a New York-based multistate marijuana operator, on Tuesday reported net quarterly revenue of $17.7 million for the three months ended June 30, up more than five times from the same period last year. Net loss totaled $33.9 million for the company, which is due to be acquired by Canadian cannabis giant Canopy Growth […]

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CannTrust stock drops 30% after second facility breaches marijuana regulations

Besieged Canadian cannabis grower CannTrust was notified that a facility was recently deemed noncompliant with a host of federal cannabis regulations – the second significant breach at its facilities in just over a month. The company said it accepted Health Canada’s findings, which were delivered after markets closed Friday. Heath Canada’s July 10-16 inspection of […]

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‘Massive, unsustainable’ value gap between Canadian, US cannabis firms, analyst notes

Marijuana companies focused on the United States face “massive and unsustainable” valuation discounts relative to their Canadian counterparts, according to a new report. As of this week, companies with an operational focus on the United States are trading at about 13 times consensus estimates for their 2020 earnings before interest, taxes, depreciation and amortization (EBITDA.) […]

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Luxembourg’s adult-use marijuana law ‘at least two years out,’ official says

Luxembourg authorities are working on details for the legalization of recreational marijuana, and the legislative process for the program – “inspired by the Canadian model” – could start as early as this fall, Vice Prime Minister and Health Minister Étienne Schneider revealed. However, Schneider also said in an interview with Euronews “it will take at […]

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Marijuana company Sol Global to rebrand with new name

Toronto-based Sol Global Investments, which is increasingly focusing on the U.S. cannabis market, is changing its name to Bluma Wellness as part of a rebranding strategy. Bluma is an ancient Hebrew word meaning to flower, bloom or blossom, according to the company. This not the first name change for the company. In 2018, the firm […]

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Auditor withdraws cannabis firm CannTrust’s financial report amid controversy

The independent auditor for Canadian marijuana company CannTrust has taken the uncommon step of withdrawing its report on the Ontario company’s financial statements for the quarter ending March and full-year 2018. It’s the latest blow amid an ongoing scandal involving unlicensed marijuana cultivation by CannTrust that has cast a dark cloud across Canada’s cannabis industry. […]

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