International Marijuana Business News

Raids and regulations: gray-market transition troubles for British Columbia cannabis retailers

Two weeks after Canada legalized marijuana, businesses in British Columbia that applied for cannabis licenses remain in the dark about when their applications could be approved. Dozens of businesses had been operating in a legal gray area for years, sanctioned by municipalities but technically illegal in the eyes of the federal government. Of the 173 […]

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Investment bank: Canada’s cannabis sales much lower than expected

Just two weeks after Canada legalized cannabis, a leading investment bank is warning investors it is “increasingly clear” recreational marijuana sales this year will come in much lower than expected. GMP Securities, an independent investment bank that services the cannabis sector, said the first 12 days of the legal market were marred by operational and […]

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Marijuana firm Curaleaf makes stock trading debut in Canada with $4B valuation

Massachusetts-based Curaleaf made its trading debut on the Canadian Securities Exchange on Monday after a $400 million private placement. The multistate cannabis firm raised almost three times its initial offering target of $150 million, giving the company a valuation of $4 billion. Curaleaf, which changed its name in August from PalliaTech, is listed on the […]

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Report: $5.5 billion up for grabs if Australia legalizes cannabis

A new report pegs Australia’s recreational cannabis market at 7.8 billion Australian dollars ($5.5 billion) – assuming a fully legal and regulated market is put in place by 2023. In neighboring New Zealand, commercial opportunities from a fully regulated recreational marijuana industry would top 977 million New Zealand dollars ($634 million), the report from United […]

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Vanuatu takes first steps to legalize medical marijuana

Vanuatu, an archipelago in the South Pacific Ocean, plans to introduce legislation later this year or next spring to launch an “ethical” medical cannabis industry. The Council of Ministers – effectively the country’s cabinet – approved a “Policy Direction on Cannabis” to lay the groundwork for the local cultivation of medical cannabis and industrial hemp. The […]

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Poland approves Aurora Cannabis as medical marijuana supplier

Alberta-based Aurora Cannabis said it received the green light to ship medical cannabis to Poland, making the Canadian company “the first nongovernment-run business” to win approval to supply medical marijuana products in the eastern European country. Aurora Deutschland GmbH – Aurora’s German subsidiary – will ship the products to a pain treatment center and a hospital […]

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Marijuana company 4Front completes $31 million raise to fund acquisitions, expansion

Multistate cannabis operator 4Front Holdings, which plans to go public in Canada, raised $31 million in a private placement of equity securities – more than double the initial offering of $15 million, according to a news release from the company. Phoenix-based 4Front plans to use the proceeds to invest in “top-tier talent,” acquisitions and the […]

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Upstart Ohio medical cannabis firm raises CA$85 million to expand footprint

A young cannabis company headquartered in Columbus, Ohio, raised 85 million Canadian dollars ($65 million) that it will use to expand its operations. Green Growth Brands – whose CEO, Peter Horvath, resigned a year ago from his executive post with Pittsburgh retail giant American Eagle Outfitters – closed the round in Toronto, where the company was […]

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‘Horrifying’ marijuana sales in British Columbia a wake-up call for regulators

British Columbia’s dismal cannabis sales in the opening hours of legalization should be seen by provincial and federal regulators as a sign to do more to entice illicit players to join the regulated industry, experts say. Among the provinces that disclosed first-day sales data, British Columbia’s sales were the lowest in Canada. The province recorded […]

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Report: Constellation to sell off wine brands, focus on cannabis, beer

One of the world’s largest alcohol producers, Constellation Brands, plans to shed some of its U.S.-based wine portfolio as part of a strategic shift to beer and marijuana products, according to an exclusive report by Reuters. Constellation increased its ownership in Canadian licensed cannabis producer Canopy Growth in August with an industry-record investment of 5 […]

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