International Marijuana Business News

Two Canadian cannabis producers each raise CA$70 million

Canada’s licensed marijuana producers continue to raise capital at a record clip to fund overseas expansion plans and boost domestic production capacity ahead of legalization this summer. It took only 10 days for the country’s cannabis industry to reach nearly 1 billion Canadian dollars ($810 million) in funding this year, much faster than the seven […]

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Canadian producers no longer must store cannabis in bank-like vaults

Health Canada has introduced new security measures that could save early stage cultivation applicants hundreds of thousands of dollars and improve operational efficiencies for current producers, according to analysts. Effective immediately, marijuana producers will no longer be required to store their inventory in bank-like vaults, which can cost up to 500,000 Canadian dollars ($405,000). Instead, […]

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US cannabis firm MedMen to go public in Canada to ‘add jet fuel’ to growth plan

Count California-based MedMen as the latest U.S. marijuana company looking to Canada to raise money. The management and investment firm, which operates dispensaries and production facilities in California, New York and Nevada, plans to go public in Canada later this year, CNBC reported. The company will list its shares on the Canadian Securities Exchange (CSE). The move into Canada […]

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Canada’s illicit marijuana industry bigger than domestic beer market

Canada’s black-market marijuana cultivation industry is larger than the country’s entire domestic brewing industry, according to a federal government agency, underscoring the importance that cannabis plays in Canada’s overall economy even before legalization this summer. The findings are part of the first batch of data released by Statistics Canada’s Cannabis Economic Accounts, which is a […]

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GW Pharma aiming for FDA approval for CBD drug this year, again

British cannabis company GW Pharmaceuticals is hoping the U.S. Food and Drug Administration will sign off on its CBD-based epilepsy treatment, Epidiolex, as soon as this year. According to The Washington Post, GW is hoping to get the green light from the FDA to classify Epidiolex as a prescription drug, despite the fact it’s derived […]

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New company launched to serve debt-starved marijuana businesses

Marijuana companies looking to access the debt market to expand their business have a new lender they can turn to for funding. Trichome Yield Corp. will provide debt financing and offer a suite of professional services for emerging and established cannabis companies, both in Canada and around the world, according to a news release. The new […]

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Proposed Canadian medical marijuana tax could funnel patients to black market, critics warn

A proposed excise tax on medical marijuana in Canada could push even more patients to the black market and curb demand in the regulated market, executives, economists and patients told Marijuana Business Daily. The federal government plans to apply the same 10% excise tax on medical users as recreational users. That’s on top of provincial and […]

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Maricann plans to acquire Swiss hemp grower for 8 million Swiss francs

Ontario-based Maricann plans to acquire a hemp farm in Switzerland for 8 million Swiss francs ($8.5 million), making the Canadian medical marijuana producer the latest to seek a toehold in the lucrative European hemp market Maricann announced plans Wednesday to acquire hemp producer Haxxon AG, which grows hemp for CBD products in a 60,000-square-foot facility in […]

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Canadian marijuana company nets a total of CA$10M through crowdfunding effort

A Canadian cannabis company has upped the amount of money it raised through a new crowdfunding method aimed at smaller investors, bringing in over 60% than initially reported. True Leaf Medicine said Wednesday it raised 10 million Canadian dollars ($8.1 million) through a so-called Regulation A+ offering, becoming the first Canadian-listed company in any industry to […]

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Aurora, CanniMed agree to CA$1.2B merger, creating one of world’s largest marijuana companies

A hostile takeover attempt turned friendly Wednesday when two of Canada’s largest marijuana producers agreed to bury the hatchet and combine their operations to become one of the world’s largest cannabis companies.

After five days of marathon negotiations, Saskatchewan’s CanniMed Therapeutics accepted Aurora Cannabis’ sweetened cash and share offer worth 1.2 billion Canadian dollars ($900 million).

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Canopy aims to have recreational marijuana outlets open in Canada by summer

Canopy Growth has become the first major licensed producer of medical marijuana in Canada to announce plans for its own stand-alone retail recreational cannabis outlets. The Smiths Falls-based company aims to have its sales outlets up and running by the time cash registers ring in the launch of Canada’s multibillion-dollar recreational marijuana industry this summer. […]

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