International Marijuana Business News

US cannabis retailer Green Growth Brands inks CA$30.5 million raise

Ohio-based marijuana retailer Green Growth Brands raised 30.5 million Canadian dollars ($23.2 million) in a private placement ahead of the firm’s planned trading debut in Canada later this month. The raise follows a CA$85 million private placement inked in September and brings Green Growth’s total raises to more than CA$140 million. The firm plans to use the […]

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Marijuana firms Terra Tech, Golden Leaf sign intent to merge in $125 million deal

Terra Tech Corp., a California-based, vertically integrated cannabis company, announced Monday that it has signed a nonbinding letter of intent to merge with Toronto-based Golden Leaf Holdings. If the deal is consummated, Golden Leaf shareholders would receive 0.1203 common shares of Terra Tech for each common share of Golden Leaf held, valuing the deal at roughly […]

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Court rulings, incoming ministers suggest Mexico destined for cannabis legalization

A recent Supreme Court ruling and newly elected government suggest Mexico could soon follow Canada down the road of cannabis legalization. Mexico’s Supreme Court ruled Oct. 31 – for the fifth time since November 2015 – that a total prohibition of recreational marijuana consumption is unconstitutional. By reaching five similar rulings, the Supreme Court crossed […]

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Israeli medical cannabis pioneer hit with ‘temporary closure’

The largest supplier of medical marijuana in Israel is not distributing or selling products from its facility in Biriya after the Ministry of Health raised questions over a new drying process – but the company expects the facility to be up and running in a matter of days. Tikun Olam CEO Aharon Lutzky said the […]

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Ontario to accept cannabis retail applications in December; here’s how to prepare

Canada’s largest recreational cannabis market will start accepting applications in December for prospective retail outlets to open next spring. Experts foresee a frenzy of applications out of the gate, as analysts say a fully private cannabis sector in Ontario could support at least 1,000 outlets. For comparison, Saskatchewan saw 1,500 submissions for just 51 licenses. […]

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Ontario Cannabis Store shifts blame for product delays to ‘mislabeling’ by licensed producers

The president of the largest marijuana retailer in Canada – the Ontario Cannabis Store – is blaming excessive shipping delays on licensed MJ producers for mislabeling some of their products. Some customers who ordered recreational cannabis on the first day of legalization – Oct. 17 – have yet to receive their products, despite expected shipping […]

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After ‘arduous’ process, B.C. licenses first private-sector marijuana store

British Columbia awarded its first license for a privately owned recreational cannabis store, roughly two weeks after adult-use marijuana was legalized in Canada, while neighboring Alberta has licensed 49 locations. The new store – Tamarack Cannabis Boutique – is in Kimberley, roughly 870 kilometers (541 miles) east of Vancouver. Owner Tamara Duggan said she expects […]

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Fast pace of Canadian cannabis license approvals fails to avert supply shortage

Canadian regulators approved new cultivation space at a frantic pace in the months leading up to legalization, but not fast enough to avert the widely predicted shortage of legal cannabis. In the month before the launch of Canada’s legal recreational cannabis market, facilities licensed by the federal government to cultivate marijuana had surpassed a cumulative […]

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Cannabis’ global growth: Q&A with Acreage CEO Kevin Murphy and ex-Canadian PM Brian Mulroney

So great is the lure of the cannabis industry that it is attracting heavyweights from mainstream industries, congressmen, presidents and prime ministers. The latest to join the green rush is former Canadian Prime Minister Brian Mulroney, who soon will sit on the board of Acreage Holdings, a multistate marijuana company in the United States. Mulroney, […]

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Canadian cannabis firm Aphria approved for NYSE listing

Aphria, one of Canada’s largest cannabis producers, has been approved to list its shares on the New York Stock Exchange. The firm will trade on the NYSE under the ticker symbol APHA starting Nov. 2. The Ontario-based company joins a growing list of Canadian cannabis firms turning to the top U.S. exchanges to tap the […]

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