International Marijuana Business News

Securities regulator accuses former Canadian Cannabis Corp directors of fraud

Former directors and officers of a Toronto-based cannabis company have been accused by Ontario’s securities regulator of defrauding investors. Canadian Cannabis Corp said Tuesday it received a Statement of Allegations from the Ontario Securities Commission (OCS). According to a report by BNN Bloomberg, the OCS accused the company’s former chief executive and two vice presidents […]

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Cresco Labs, Origin House near closing cannabis deal

Cresco Labs, the Chicago-based multistate marijuana operator, said its acquisition of Canada’s Origin House, a major MJ distributor in California, is significantly closer to completion following further compliance with antitrust requirements. The two companies are now set to compete the transaction by Nov. 15 at the latest. Cresco agreed to acquire Origin House, based in […]

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Reports: Former cannabis heavyweight Tikun Olam to sell Israeli assets for $42 million

Tikun Olam, once one of the world’s leading medical cannabis companies, is selling its domestic assets for $42 million – or about half of its asking price of $100 million – according to Israeli media reports. Cannbit Pharmaceuticals has reportedly agreed to buy Tikun Olam’s operations in Israel. Rivals Bazelet Group and InterCure were also […]

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Paraguay to open application process for medical cannabis production licenses in October

Paraguay plans to open up the application process next month for businesses seeking to secure a production license for the country’s new medical cannabis industry. The nation’s health minister, Julio Mazzoleni, announced during a press conference on Thursday the approval of a resolution establishing the guidelines to apply for the first commercial production licenses. Five vertically integrated […]

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Teva Israeli subsidiary signs cannabis distribution deal

A subsidiary of multinational pharmaceutical giant Teva Pharmaceuticals signed a deal with Israeli medical marijuana company Canndoc to distribute its products to pharma customers that include pharmacies and hospitals. While the deal is not exclusively for products in Israel, it will start there and move to other countries once it becomes logistically legal to do […]

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Aurora plots ‘significant’ US marijuana entry in ‘very short period’

Canada’s largest medical cannabis company by revenue and production is planning to make a “significant” splash in the near future on another point of entry in the U.S. market, one of the company’s executives said in an interview. Aurora, based in Edmonton, Alberta, already has arms-length involvement in the United States through Australis Capital, a […]

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Aurora Cannabis reports revenue of CA$99 million, a 418% jump

Alberta-based Aurora Cannabis reported net revenue of 99 million Canadian dollars ($75 million) in its most recent quarter, a 418% increase from CA$19 million in the same quarter last year. However,  international sales amounted to only CA$4 million in Aurora’s fiscal fourth quarter, which ended June 30. Aurora saw improvements across the board in its […]

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FDA deadline to comment on international rescheduling of cannabis nears

The U.S. Food and Drug Administration (FDA) reopened a comment period for public input in preparation for the international discussion to reschedule marijuana  as recommended by the World Health Organization (WHO). The deadline to submit comments is Sept. 30. The nonbinding rescheduling recommendations made by the WHO’s Expert Committee on Drug Dependence could have a significant impact […]

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