International Marijuana Business News

Constellation invests CA$5 billion in cannabis giant Canopy in deal financed by BofA Merrill Lynch

Global liquor giant Constellation Brands plans to significantly increase its ownership in Canopy Growth by investing an industry-record 5 billion Canadian dollars ($3.8 billion) to make the marijuana titan its exclusive global MJ partner. Constellation will acquire 104.5 million shares directly from Canopy Growth for CA$48.60 per share, giving the New York-based company – which owns, […]

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Canadian company cancels $8.3 million deal to buy Maine marijuana grow operation

Canada-based C21 Investments has nixed a deal to spend up to $8.3 million for a cultivation operation in Maine that subsequently was linked to an alleged black-market grow. The Bangor Daily News reported Tuesday the cancellation of the deal, which C21 had disclosed June 28 in a news release. C21, which has made a flurry […]

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Multibillion-dollar marijuana industry takes the stage at MJBizConINT’L

There is no end in sight to business opportunities in the multibillion-dollar international cannabis industry, experts said Tuesday as the inaugural MJBizConINT’L kicked off in Toronto. More than 2,000 marijuana entrepreneurs and investors from 31 countries are gathering for the three-day, international-focused conference to explore strategies that include: Tapping into international investment capital. Building a global cannabis […]

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Canadian firm gobbles up OR marijuana edibles maker in deal worth up to $11M

Canada-based C21 Investments continued its blistering U.S. acquisition pace, announcing Monday it is acquiring Oregon’s Grön Chocolate in a deal worth up to $11.2 million. C21 CEO Robert Cheney said in a news release that adding the upscale edibles maker is a critical addition to the vertically integrated MJ company’s strategy to aggressively compete in […]

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Ontario scraps government monopoly, adopts private retail plan for adult-use cannabis market

Ontario’s new retail framework for recreational cannabis will start with online-only sales when legalization takes effect Oct. 17,  with a network of privately owned stores expected to be in place by April 1.

The new retail plan, first reported by Marijuana Business Daily, is a complete overhaul of the previous government’s commitment to opening only a small number of publicly owned stores.

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Facebook making it harder to find marijuana businesses, regulators

Marijuana-related companies, regulators and trade groups around the globe recently stopped appearing in Facebook searches, becoming casualties of what appears to be the social media platform’s latest attempt to filter results related to “marijuana” and “cannabis.” The phenomenon is known as “shadow banning,” in which posts on an online social community such as Facebook, Twitter […]

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Canada’s marijuana giants advance coast-to-coast retail plans

Two of Canada’s largest cannabis companies – Aphria and Aurora – are working to establish networks of adult-use retail stores across the country in advance of the recreational marijuana market launch in October. Alberta-based Aurora Cannabis reached a license agreement with Alcanna, the largest private-sector liquor retailer in Canada. In February, Aurora paid 103.5 million […]

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Marijuana firm GrowForce closes CA$38M raise ahead of public markets debut

Toronto-based GrowForce Holdings has closed a funding round of 38 million Canadian dollars ($29.1 million) as the firm prepares to go public later this quarter. Capital from the equity raise will be used to expand the company’s cultivation operations and for strategic acquisitions, the firm said in a news release. Under terms of the offering, GrowForce […]

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Italy looks to expand medical marijuana sales to all pharmacies, increase production

Italy signaled its intention to loosen the military’s grip on the cultivation of medical marijuana, significantly ramp up production and make MMJ “available in all pharmacies” across the country. The move also could increase opportunities for international MMJ companies participating in the nation’s medical cannabis industry. Italian Health Minister Giulia Grillo made the announcement in […]

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