International Marijuana Business News

Cronos investor Altria in merger talks with fellow tobacco giant Philip Morris

Altria Group and Philip Morris International are in discussions over a potential all-stock “merger of equals,” the companies confirmed Tuesday. If the merger comes to fruition, it could have an impact on one of the Canadian cannabis sector’s leading companies. Last December, Virginia-based tobacco company Altria Group agreed to invest 2.4 billion Canadian dollars ($1.8 […]

Read More

As Brazil prepares for major changes, authorizations to import medical cannabis surpass 10,000

The number of total authorizations granted to individual Brazilian patients to import medical cannabis since the program launched in 2014 surpassed 10,000 at the end of June 2019, according to data that the country’s health-care regulator shared directly with Marijuana Business Daily. Upon obtaining an authorization, Brazilian patients can import a maximum quantity of medical cannabis on a […]

Read More

Guam clarifies adult-use marijuana rules ahead of new industry regulations

Guam, a U.S. territory, reminded businesses and consumers that recreational cannabis sales remain prohibited until the new rules to govern the industry are completed.  The Western Pacific island approved the creation of an adult-use cannabis market earlier this year.  The Cannabis Control Board has until April 2020 to finalize a set of rules and regulations […]

Read More

After slow start, Canada’s recreational marijuana sales reach new high

Adult-use cannabis sales through regulated channels in Canada reached a new high in June after meandering for much of the first half-year of legalization, according to the latest, seasonally adjusted data from Statistics Canada. Sales of regulated adult-use cannabis surpassed 85 million Canadian dollars ($63 million) in June, an improvement over May’s CA$79 million and April’s […]

Read More

Cannabis retailer Green Growth inks first equity raise

Ohio-based Green Growth Brands, which last month agreed to buy a multistate operator that sells both medical and recreational marijuana, completed an initial equity raise for 50.2 million Canadian dollars ($37.8 million). Green Growth said in a statement that the raise is intended to fuel expansion, much like the company’s $310 million purchase in July of Moxie. […]

Read More

Cresco Labs reports increased marijuana revenue, net quarter loss

Cresco Labs, a multistate cannabis company based in Chicago, on Wednesday reported revenue of $29.9 million for the second quarter, up 253% from the same period a year ago. Net loss for the quarter, ending June 30, was $3.9 million, compared with net income of $1.6 million for the prior-year period. Cresco trades on the Canadian […]

Read More

Linton continues investing in marijuana giant Canopy after dismissal

Bruce Linton, the former co-CEO of Canopy Growth who was fired by the Canadian company last month, on Tuesday told CNBC’s “Squawk Box” he has since acquired more shares in the cannabis giant. “It was a right time for them to make the change, and it was the right time to buy the stock,” Linton said […]

Read More