International Marijuana Business News

Global spending on legal cannabis to hit $57 billion by 2027, report says

Worldwide spending on legal cannabis is forecast to reach $57 billion by 2027, led by growth in North America and Europe, according to a new report by Arcview Market Research and BDS Analytics. North America will continue to see the most spending on legal cannabis, rising from $9.2 billion in 2017 to $47.3 billion in […]

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Ex-Coke, Coors executive takes reins of Canadian marijuana company

A burgeoning cannabis producer with aspirations of being a global leader has appointed a longtime Coke and Molson Coors executive as its new CEO. Torsten Kuenzlen took the helm of Alberta-based Sundial Growers this week. The move illustrates how Canadian cannabis companies are luring top international talent to fill C-suite executive positions, as the stigma […]

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Greek cannabis bill passes key hurdle as Canadian producer eyes investment

International investors are eyeing Greece as a draft bill on medical cannabis moved out of committee this week, positioning the country to be the next to ride the European Union’s medical cannabis wave. Parliamentary committees approved the government’s draft bill aimed at creating a legal framework for the cultivation and production of medical cannabis, while […]

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Canadian cannabis company faces investigation from stock regulator

A Canadian cannabis company is being investigated by a securities regulator after two of its directors sold millions of dollars worth of shares only days before it announced a large equity financing. The licensed producer, Maricann Group, also failed to disclose to investors that its CEO is under investigation for actions at a previous company, […]

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Aurora Cannabis clears final regulatory hurdle in CA$1.2B CanniMed acquisition

Aurora Cannabis received the green light from Canada’s Competition Bureau to proceed with its acquisition of CanniMed Therapeutics, clearing the way for the creation of the second-largest marijuana company in the country. The acquisition puts the Alberta-based licensed cannabis producer in the same league as Canopy Growth, the largest Canadian company, said Russell Stanley, an […]

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Medical marijuana harvests begin in Jamaica

At least two medical marijuana companies have begun the first-ever legal harvest of their crops, signaling that the island nation is well on its way to becoming a full-fledged MMJ market. Kaya Farms reportedly started its harvest Feb. 20, the Jamaica Observer reported, while competitor Timeless Herbal Care said in a news release Tuesday that it […]

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Canadian pharmacies strengthen supply network for medical marijuana

The largest drugstore chain in Canada, Shoppers Drug Mart, continues to secure medical cannabis deals ahead of what is expected to be a tight supply market for the product, at least in the near term. In the latest deal, Aurora Cannabis agreed to become a medical cannabis supplier to Toronto-based Shoppers. Financial terms and the […]

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African marijuana producer signs supply deal with Canadian company

Toronto-based Nuuvera has signed an offtake agreement with Verve Dynamics, a licensed medical cannabis producer in the kingdom of Lesotho.

Lesotho, a landlocked country located within the borders of South Africa, was the first African country to regulate the cultivation and production of medical marijuana products.

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Israeli cannabis exports now in prime minister’s hands; Trump pressure denied

A key Israeli parliamentary committee came to a consensus on the urgent need to approve medical cannabis exports – which insiders consider crucial for the creation of a sustainable MMJ industry – and vowed Monday to push for a quick resolution. That clears an important hurdle for the issuance of export permits, putting the ball […]

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Cronos lists on Nasdaq, as US gets first ‘pure play’ marijuana stock on major exchange

A Canadian marijuana company will become the first “pure play” cannabis listing on a major U.S. stock market, an important milestone for the cannabis industry.

Cronos Group, one of Canada’s largest vertically integrated medical marijuana companies, will start trading Tuesday on the Nasdaq Global Market under the symbol CRON. Cronos will maintain its listing on Toronto’s TSX Venture Exchange.

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Marijuana industry goes to court to force Israeli government to permit MMJ exports

The marijuana industry is fighting a high-stakes court battle to force the Israeli government to approve medical cannabis exports sooner rather than later. The decision by industry advocates to go to court comes as Israeli lawmakers prepare to debate the country’s medical cannabis export policy on Monday. The outcome is huge for dozens of international […]

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CannTrust gets initial OK to list on Toronto Stock Exchange

CannTrust Holdings is set to become the first marijuana company to graduate to Canada’s senior stock market since listing requirements were clarified for companies with U.S. assets. The Toronto Stock Exchange (TSX) has given the Vaughan, Ontario-based company initial approval for the move. As part of its ascent, CannTrust will “assign its interest” in the U.S. intellectual […]

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