Marijuana Stocks & Public Companies

Cannabis firm MedMen outlines plans to go public in Canada

It’s no secret that Los Angeles-based MedMen has plans to go public in Canada. But this week, the multistate marijuana company fully outlined how it expects to achieve that goal: a reverse takeover. MedMen has signed a letter of intent with Toronto-based OutdoorPartner Media Corp. to combine the two firms’ business operations under the MedMen […]

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Canada’s cannabis oil exports rise 300%, boosted by German demand

Exports of medical cannabis oil from Canada had a breakout year in 2017 – and executives say it is just the start for a massive new overseas market.

Medical cannabis exports in oil form rose 300% from 2016 levels, according to data shared with Marijuana Business Daily by Health Canada. Analysts expect this trend to continue as countries legalizing medical cannabis look to imports to meet demand in lieu of domestic cultivation.

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Kush Bottles acquires cannabis extraction supply company

One of the larger ancillary U.S. cannabis companies announced Tuesday that it just got even bigger. California-based Kush Bottles revealed in a news release that it acquired Colorado-based Summit Innovations, a purveyor of hydrocarbon gas used by marijuana extract producers, through a merger agreement. “Integrating this broad gas portfolio into our large distribution platform will […]

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Quebec inks ‘bombshell’ supply deals for 359 tons of cannabis

Canada’s second-largest province by population signed multiyear supply deals with six licensed cannabis cultivators for its recreational market, a move that provides much needed certainty for businesses and investors, analysts say. The six companies will supply an aggregate of approximately 325,000 kilograms (359 tons) of cannabis over the life of the deals. Quebec-based Hydropothecary got the […]

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Senators take aim at homegrown cannabis in Canadian legalization bill

Conservative senators are taking issue with a provision of Canada’s marijuana legalization bill that allows recreational cannabis to be grown in residences, with some calling for the measure to be purged from the pending law. Removing the homegrown-cannabis provision would be a blow to companies gearing up to capitalize on the niche market – from sales […]

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Canadian cannabis firms raise CA$2 billion to fuel growth

Canada’s medical cannabis companies have raised 2 billion Canadian dollars ($1.57 billion) in capital this year to tap overseas opportunities and build out domestic capacity ahead of legalization. While independent investment banks were involved in most of the transactions, the Bank of Montreal, through its subsidiary BMO Capital Markets, became the first major bank to lead […]

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Malta legalizes marijuana prescriptions; production law nears approval

Malta recently became the latest country to legalize medical cannabis prescriptions, and a separate law to permit production is within months of final approval. The Drug Dependence Bill received approval from of the House of Representatives on March 6 and was signed into law by President Marie-Louise Coleiro Preca on March 9. The legislation does […]

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Canadian analysts eye ‘catalysts’ to reverse cannabis stock freefall

Canadian cannabis stocks are down over 40% since peaking in early January, leading analysts to speculate about what might ultimately trigger a rebound. The Canadian Marijuana Index, a basket of the leading cannabis stocks operating in Canada, is 40% off its peak, or a loss of nearly 15 billion Canadian dollars ($12 billion) in market […]

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Big Canadian banks warming to legal marijuana industry

The chief executive of one of Canada’s largest banks said it would weigh financing cannabis companies after legalization takes place later this summer. TD Bank CEO Bharat Masrani said the Toronto-based financial institution is studying the issue, and any potential clients in the cannabis industry should have a presence only in countries where recreational or […]

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Week in Review: California-Canada union, New Jersey’s MMJ expansion & a GOP thumbs-up for hemp

A Canadian cannabis business buys three California MJ companies, New Jersey expands its medical marijuana program, and a key Republican goes to bat for industrial hemp. Here’s a closer look at some notable developments in the marijuana industry over the past week. Northern invasion The announcement that yet another Canadian company – Ontario-based CannaRoyalty Corp. […]

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Canadian firm acquires three California marijuana companies

A publicly traded Canadian cannabis company announced Wednesday that it has acquired three California businesses, including a major distributor that generated over $25 million in revenue last year. Ottawa, Ontario-based CannaRoyalty Corp. acquired: RVR, a large-scale distributor of both medical and recreational cannabis brands. Alta Supply, a smaller distributor of medical marijuana. Kaya Management, an […]

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Australian state to investigate legalizing recreational cannabis

Australia’s second-most populous state will explore international developments around “cannabis for adult use” as part of its investigation into drug law reform. In a 586-page report, a parliamentary committee in Victoria recommended the creation of a council to investigate global changes in marijuana usage, as well as several other considerations involving comprehensive drug law reform. […]

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