International Marijuana Business News

Aphria latest major Canadian cannabis company to turn a profit

Aphria on Thursday became one of the rare Canadian cannabis companies to report a net profit by posting record net revenues of 128.6 million Canadian dollars ($97.3 million) in its fiscal fourth quarter, a whopping 969% increase from a year earlier. Revenues also jumped 75% from the third quarter. As a result of the company’s […]

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First commercial export of nonpsychoactive cannabis from Colombia reaches UK

Bogota-based Clever Leaves announced that the first Colombian shipment of nonpsychoactive cannabis products for commercial sale reached London’s Heathrow Airport on July 27, and the health-related goods cleared customs Wednesday. The products, which were exported as a food supplement, will soon be available for sale in the United Kingdom and other European Union countries, according to […]

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Deal Watch: Hemp, infused products and devices see notable gains in M&A activity

While overall merger and acquisition investment in the North American cannabis industry has been far outpacing that of 2018, several sectors have posted notable increases so far this year.

Three sectors – hemp, infused products and extracts, and consumption devices – have seen M&A activity values at $1.42 billion this year.

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EXCLUSIVE: Lesotho planning overhaul of medical cannabis rules

A revamped round of regulations is in the works in Lesotho that would spell out new guidelines for awarding medical cannabis business licenses in the southern African nation, Marijuana Business Daily has learned. While many of the proposals are more business-friendly than the current rules, some of the draft amendments would effectively erect barriers for […]

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Most German pharmacists support medical marijuana, but they want more info

An organization that analyzes Germany’s pharmacy market recently completed an extensive survey on the sector’s views of medical cannabis. A little more than 500 German pharmacists participated in online interviews for Aposcope, and the results – published by trade newspaper Apotheke Adhoc – may shed valuable light on how companies could approach the fast-growing medical cannabis […]

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CannTrust hires adviser to explore possible sale amid cannabis scandal

A week after CannTrust Holdings fired its CEO over a scandal involving unlicensed marijuana cultivation, the Canadian producer hired a financial adviser to review “strategic alternatives,” including a possible sale of the company. CannTrust said an internal committee has retained Greenhill & Co. Canada to review how the firm could proceed, with options that include: […]

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Dixie Brands’ board loses two Auxly marijuana executives

Two top executives at the Canadian-based Auxly Cannabis Group resigned from the board of Dixie Brands, a Denver-based maker of cannabis-infused products. Hugo Alves, the president of Auxly, and Michael Lickver, senior vice president of strategy for the Vancouver, British Columbia-based cannabis company, announced their resignations Monday. No reason for their departures was given in a Dixie […]

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British tobacco giant invests CA$123 million in Canadian cannabis firm Auxly

Imperial Brands said it will invest 123 million Canadian dollars ($93.4 million) in a British Columbia cannabis company, the United Kingdom tobacco giant’s latest foray into the marijuana industry. With the investment, Imperial is taking a 19.9% stake in Auxly Cannabis Group, an international cannabis company based in Vancouver, British Columbia. The two companies also […]

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GW Pharma’s cannabis drug OK’d by European Medicines Agency panel

GW Pharmaceuticals announced that the Committee for Medicinal Products for Human Use (CHMP) recommended approval of the British company’s cannabis-based medicine Epidiolex. The CHMP is responsible for preparing the European Medicines Agency (EMA)’s opinions on questions related to the marketing of human medicines. The CHMP opinion was adopted July 25, and the final decision now rests […]

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Canadian bank’s ‘unfair’ cannabis fees add to financial hurdles for lottery hopefuls

One of Canada’s top lenders is charging prospective cannabis business owners thousands of dollars for a routine review of financial documents, imposing an added cost on entrepreneurs who want to enter Ontario’s upcoming lottery for the right to open a marijuana retail store. The Bank of Montreal (BMO) is charging potential clients 3,000 Canadian dollars […]

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South Korean medical cannabinoid imports surpass 300 units since law passed

South Korea saw just over 300 approved imports of cannabinoid-based medicines in the first few months of the country’s newly regulated medical cannabis program, a volume that underwhelmed local experts who expected demand to be much higher. Almost all the medical cannabis prescriptions were for pure CBD oil. Through July 19, exactly 300 prescriptions had been […]

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CannTrust chaos continues with ousting of CEO, chairman resignation

Ontario, Canada-based licensed producer CannTrust fired its chief executive, Peter Aceto, “with cause” Thursday amid an ongoing scandal involving unlicensed cannabis cultivation that has enveloped the marijuana industry in Canada for weeks. The company also demanded, and received, the resignation of its longtime chairman, Eric Paul. “The investigation into the company’s noncompliance with Health Canada regulations […]

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