International Marijuana Business News

British Columbia, Ontario at bottom of per-person legal cannabis sales

Provinces with more physical cannabis stores saw significantly higher per-person sales in the six weeks after Canada’s legalization of recreational marijuana, according to new data from Statistics Canada – an indication that consumers have a strong preference to buy their cannabis offline. British Columbia – the province with the biggest underground cannabis economy – reported […]

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Tilray to double domestic footprint with acquisition of Canadian marijuana cultivator

British Columbia-based Tilray plans to buy Natura Naturals Holdings for up to 70 Million Canadian dollars ($52 million) to significantly increase its Canadian cannabis footprint. Natura Naturals – a subsidiary of Natura Naturals Holdings – owns one of Canada’s 126 cannabis cultivation licenses. Under the terms of the definitive agreement, Tilray said it will deliver […]

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Cannabis firms in M&A hunt look beyond Canada for growth

Canadian medical cannabis companies are increasingly looking internationally for acquisitions to tap growth while consolidation in the country’s marijuana sector continues to steam ahead. Last year, 140 U.S. cannabis companies were targets of mergers and acquisitions, a substantial increase over 2017’s 86, according to data compiled by Viridian Capital Advisors and shared with Marijuana Business […]

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Puerto Rico medical marijuana companies now without banking option

Puerto Rico’s medical marijuana companies have lost their only banking solution, forcing them to conduct business in cash. Tu Coop, an in-state credit union, had been providing banking to MMJ firms as part of the cooperative sector, which is regulated by local authorities, Caribbean Business reported. Israel Menchaca, executive director of Tu Coop, was unavailable […]

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US Virgin Islands enacts medical cannabis law, opens tourism business avenues

U.S. Virgin Islands Gov. Albert Bryan Jr. has given a new medical marijuana law his stamp of approval, making the territory the latest Caribbean jurisdiction to open its doors to cannabis businesses and potential new tourism opportunities. The move has been years in the making, with voters having favored medical cannabis in a 2014 referendum. Read […]

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Steady growth in medical marijuana demand taxes Brazil’s import structure

The medical cannabis structure that requires patients in Brazil to get individual authorizations to import their MMJ products is “insufficient” to meet growing demand in the country, according to a former sanitary surveillance agency director. The continuous increase of individual authorizations to import medical cannabis could force Agencia Nacional de Vigilancia Sanitaria (ANVISA) to make […]

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Tilray, Authentic Brands Group enter revenue-sharing deal for cannabis products

Tilray, the British Columbia-based cannabis heavyweight, signed a revenue-sharing agreement with Authentic Brands Group (ABG) to market and distribute consumer cannabis products within the New York-based firm’s brand portfolio. Under the terms of the agreement, Tilray will pay $100 million to ABG and up to $250 million in cash and stock upon achieving unspecified milestones. […]

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Aurora targets high-margin cannabis market with CA$175M Whistler acquisition

Alberta’s Aurora Cannabis has agreed to acquire privately held British Columbia-based Whistler Medical Marijuana Corp. – one of Canada’s first licensed producers – for 175 million Canadian dollars ($131 million) in an all-share transaction. The acquisition will add Whistler’s recognized cannabis brand to Aurora’s portfolio. It also provides Aurora a proven export channel. Whistler already […]

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Legal cannabis could skim $55 billion per year from alcohol, tobacco firms

Global alcohol and tobacco companies could face losses of $55 billion a year if a fully legal cannabis industry develops in North America, a new report predicts, a key driver for why those sectors are taking early steps into the blooming marijuana market. “For these two industries in particular, a move into the cannabis business is […]

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