International Marijuana Business News

Marijuana Business This Week: German medical cannabis contracts, CBD self-regulation, MMJ group’s bank account closed & more

Here are some notable stories and events to watch for in the coming days: MAKING IT OFFICIAL: Contracts between Germany’s Federal Institute for Drugs and Medical Devices and the three companies it tentatively selected to cultivate and distribute its medical cannabis could be formalized as early as Wednesday after a mandatory 10-day appeals process expires. […]

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Ontario opens agricultural grants to cannabis cultivators

Dozens of cost-sharing grants offered by the province of Ontario and Canada’s federal government are now available for licensed cannabis cultivators. The funding is provided in part through the Canadian Agricultural Partnership – a 3 billion Canadian dollar ($2.2 billion) initiative that supports agricultural businesses of all kinds across the country. Fifty-six separate cost-sharing programs […]

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Ontario announces prequalification plan to expand cannabis retail stores

Ontario plans to prequalify privately owned cannabis retailers – likely by the end of the year – and has recommitted to eventually lifting the province’s “temporary” limit of 25 stores. The prequalification criteria released by the government of Canada’s largest marijuana market is a glimpse into the medium-term future of Ontario’s brick-and-mortar cannabis industry, “where […]

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Marijuana packaging firm KushCo: Higher Q2 2019 revenue, but increased losses

KushCo Holdings, a California-based cannabis packaging group, reported revenue of $35.2 million for its fiscal second quarter ended Feb. 28, 2019. This compares with $10.4 million net revenue for the same period in fiscal 2018. Net loss for the quarter was $8.9 million, up from a $7.6 million loss in the same period in 2018. […]

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Saskatchewan marijuana growers eligible for agriculture grants

Saskatchewan’s Ministry of Agriculture is allowing cannabis cultivators operating in the province to access cost-sharing grants funded through the Canadian Agricultural Partnership (CAP), a joint federal-provincial program to boost agriculture and agri-food businesses across Canada. Saskatchewan’s share of the 3 billion Canadian dollar ($2.2 billion) CAP initiative is CA$388 million. British Columbia also opened agricultural […]

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Health Canada receives 117 complaints about cannabis promotions

Canadian marijuana businesses are still getting a handle on marketing and branding their products without breaching the country’s strict laws on cannabis promotions. Nearly six months in to the nation’s newly regulated marijuana sector, Health Canada said it has received 117 complaints regarding promotional activities of cannabis companies. In terms of enforcement, Health Canada said […]

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Cannabis M&A fever spreading to Europe with HolyWeed deal

Toronto-based marijuana company MPX International has agreed to purchase all outstanding shares of Swiss CBD maker HolyWorld SA in an all-stock transaction worth 13 million Canadian dollars ($10 million). HolyWorld does business as HolyWeed. The move is part of a trend seen in Canada where companies are looking internationally for strategic acquisitions to tap growth as […]

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Canadian cannabis extracts industry set to ‘explode this fall’

The marijuana extraction sector in Canada is still in “the early innings” and poised for significant growth after the federal government legalizes concentrates and edibles later this year, according to a market analyst. “What we like about extractors is that there is a long runway of growth ahead,” GMP Securities analyst Martin Landry told Marijuana […]

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Canadian cannabis wholesalers report CBD shortage, while imports lag far behind

Provincial wholesalers and medical patients in Canada report a shortfall of CBD products for the nonmedical and medical markets, and new data released to Marijuana Business Daily suggests imports aren’t enough to fill the gap. Cannabidiol in Canada can be sold to adults only via a provincially or territorially authorized cannabis retailer or directly by […]

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