International Marijuana Business News

Molson Coors: Cannabis consumption may hit company’s bottom line

The second-largest beer maker in North America is once again warning its shareholders that the rising tide of legal marijuana could take a bite out of its profits. Denver-based Molson Coors said a decline in the consumption of its products could result in an adverse effect on its business. “Although the ultimate impact is currently […]

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Cronos Group reports boosted cannabis revenue but wider losses in Q4

Cronos Group, a Toronto-based licensed cannabis party, posted sizable fourth-quarter revenue, the company said in an earnings report Tuesday, but its net loss for the period grew sharply – fueled in large part by financial reporting requirements. Cronos reported fourth-quarter revenue of 5.6 million Canadian dollars ($4.2 million) for the period ended Dec. 31, 2018, up nearly 250% […]

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Men hold 93% of Canadian cannabis boardroom positions

(Please see the followup to this story, “Lack of boardroom diversity will cost Canadian cannabis companies” – Ed.) Two dozen of the leading cannabis companies in Canada collectively employ only 11 women on their boards, and most – including the market leaders – have not disclosed written policies relating to the identification and nomination of […]

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Guernsey releases marijuana regulations, licenses first business

A self-governing British Crown dependency in the English Channel updated its licensing regulations for CBD products and the cultivation of cannabis. Guernsey opened the door to medical cannabis and cannabidiol businesses last year by updating its Misuse of Drugs (Bailiwick of Guernsey) Law. Read the related updates for CBD here and here. Celebrated won the […]

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Romania considering legalization of medical cannabis

A legal medical cannabis industry could be in Romania’s future, according to the country’s finance minister. Finance Minister Eugen Teodorovici said the Health Ministry launched a commission to analyze medical marijuana, Romanian television station Digi24 reported. According to the 24-hour news station, Teodorovici said: “I’ve talked to minister Sorina Pintea and found out that this […]

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Canada clamps down on ‘one-click’ age checks for marijuana promotions

One-click authentications of a website user’s age are not enough to ensure cannabis promotions cannot be accessed by young people, according to Health Canada, and the agency expects regulated parties to take corrective steps “in the coming weeks.” Earlier this month, Canada’s cannabis regulator warned regulated parties of their obligation to comply with the Cannabis […]

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Cannabis extraction company Nextleaf begins trading on CSE

Vancouver, British Columbia-based Nextleaf Solutions has begun trading on the Canadian Securities Exchange (CSE) under the ticker symbol OILS. The company uses its technology to extract and process cannabinoid distillate, which can be used for premium infused products. Nextleaf said it has completed the construction of an extraction and processing facility in the Vancouver area and […]

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Canadian medical cannabis exports tripled last year, as race for European market position intensifies

Exports of medical cannabis from Canada soared last year as the country’s biggest licensed cannabis companies continued to establish beachheads in new medical markets overseas. Shipments of dried cannabis tripled to 1,460 kilograms (3,219 pounds) in 2018, compared with 500 kilograms in 2017 and only 44 kilograms in 2016. Exports of medical cannabis oil doubled […]

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Australian medical marijuana revenues could hit AU$36 million in 2019

Australia’s medical cannabis market could surpass 15,000 patient application approvals by the end of this year, with industry revenues totaling roughly 36 million Australian dollars ($25 million), according to an analyst’s forecast. While both totals may seem low by North American standards, they represent “a decent start” for the country’s emerging medical cannabis industry, said […]

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Amyris closes on potential $300M cannabinoid deal with biotech group Lavvan

Amyris, a California-based company focused on wellness products, said it has closed a deal potentially worth $300 million with biotech startup Lavvan to research and develop synthetic cannabinoids. The move follows that of Canada’s Cronos Group inking a $122 million deal with Boston-based Ginkgo Bioworks last September to produce lab-grown cannabinoids. Analysts at Toronto-based Paradigm Capital […]

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