While a shortage of marijuana is expected to precede any glut by a number of years, the potential for cannabis commoditization is already a consideration for many licensed cultivators in Canada. Greg Engel, CEO of New Brunswick-based Organigram, said commoditization, at least as it relates to cannabis, boils down to two things: Excess supply over […]Read More
Canada’s beer industry is expressing concern that the recreational marijuana market is going to cut into its profits, and it wants the government to raise the proposed tax to level the playing field. “The potential for legal marijuana to cannibalize beer (in Canada) is much more significant compared to the U.S. because of our higher […]Read More
Green Thumb Industries, a Chicago-based cannabis grower and dispensary operator, released its plans to go public in Canada’s booming marijuana market. The multistate company has signed a letter of intent to complete a reverse takeover of Vancouver, British Columbia-based Bayswater Uranium Corp., which has interests in properties across Canada and in Wyoming. The deal charts […]Read More
Multistate cannabis firm iAnthus secured a $50 million investment from Gotham Green Partners, a marijuana-focused private equity firm based in New York. The deal, announced Monday, is one of the largest investments by a single investor in a U.S.-based publicly traded cannabis firm, according to a news release. Net cash proceeds to the firm are […]Read More
Consolidation continued in the cannabis industry Tuesday, with four major marijuana businesses from the United States and Canada merging to launch a multinational company with combined revenue forecast to total more than $200 million next year.
Operating under the name TILT Holdings, the new companies will include the combined operations of Baker Technologies, Sea Hunter, Briteside and Santa Veritas Therapeutics, according to a news release.Read More
Aurora Cannabis has agreed to acquire rival Canadian cannabis producer MedReleaf in a deal valued at $3.2 billion Canadian dollars ($2.5 billion) that would create the largest marijuana company in the world. The transaction, announced Monday, marks the largest deal inked in the cannabis sector to date, giving the combined company a footprint that will […]Read More
Canada’s market leader in medical marijuana has applied to trade its shares on the New York Stock Exchange, a move that would make it the first cannabis-producing company to list on the world’s largest stock market.
Smiths Falls, Ontario-based Canopy Growth said in a news release it expects its shares to begin trading on the NYSE “before the end of May” under the symbol CGC.Read More
Big institutional investors are sitting on billions of dollars they’d like to pump into the marijuana industry, but that’s not likely to happen as long as cannabis remains illegal in the eyes of Uncle Sam, according to investment mogul Kevin O’Leary. “The amount of capital that wants to come into this space is unprecedented,” said […]Read More
The former chair of Canada’s federal task force on cannabis legalization is calling on senators to avoid “undue partisan activity” as the bill faces the potential of a delay over contentious amendments that are under consideration. The Senate has every right to consider the Cannabis Act rigorously, Anne McLellan told Marijuana Business Daily. “But I’m hoping that partisanship […]Read More
A new report on Canada’s legal marijuana industry by the country’s fourth-largest bank signals growing interest in the sector among institutional investors, which until recently have been extremely cautious in their approach to cannabis businesses. Analysts on CIBC’s Institutional Equity Research team estimate that legal retail sales of recreational marijuana will reach 6.5 billion Canadian […]Read More
One of Canada’s biggest supermarket operators plans to enter the business of selling recreational marijuana products pending legalization late this summer.
Loblaw, a leader in the country’s supermarket industry, said some of its locations in Newfoundland are among 23 selected as “qualified applicants” to become licensed cannabis retailers.Read More
British Columbia-based cultivator Emerald Health Therapeutics signed a deal worth 90 million Canadian dollars ($70 million) to buy rival cannabis producer Agro-Biotech. The agreement expands Emerald’s (TSXV: EMH) footprint into Quebec, Canada’s second largest province. Based in Saint-Eustache, Agro-Biotech is one of six licensed marijuana producers in Quebec. The startup is on pace to have a […]Read More
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