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Merrill Lynch launches marijuana sector coverage, predicts more cross-border deals

Bank of America Merrill Lynch deepened its interest in the cannabis industry by initiating coverage of the burgeoning sector, less than a year after it financed Constellation’s multibillion-dollar investment in Canada’s Canopy Growth. The report, by analyst Chris Carey, predicts two events may lead to a paradigm shift: Canada reaching marijuana oversupply by 2021. U.S. legalization. “Importantly, whether […]

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Police deny probe involving Canadian cannabis firm Ascent; company says otherwise

Vancouver-based Ascent Industries said it is cooperating with an investigation by the British Columbia anti-gang police unit into “certain activities at Ascent,” but the agency denies such a probe exists “at this time.” A spokesperson for the Combined Forces Special Enforcement Unit of British Columbia (CFSEU) said Ascent has been “speaking” with the agency, but […]

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Canopy strikes groundbreaking cannabis-sector deal to buy Acreage for $3.4 billion

Get more in-depth analysis of this deal – and others in the cannabis industry – with an Investor Intelligence subscription. Marijuana industry leader Canopy Growth has struck a deal to buy New York-based Acreage Holdings in what would be the first major Canada-U.S. cannabis transaction – but the purchase won’t be executed until the U.S. government removes […]

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Brazilian cannabis import authorizations top 1,000 in the first quarter of 2019

Brazilian authorities continued to approve permits to import medical cannabis at an increasing rate through the first quarter of 2019. According to data provided to Marijuana Business Daily, Brazil’s National Sanitary Surveillance Agency (ANVISA) granted 884 new authorizations and 170 renewals during the first quarter of 2019 – more than one-third of all the authorizations that were […]

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Marijuana Business This Week: German medical cannabis contracts, CBD self-regulation, MMJ group’s bank account closed & more

Here are some notable stories and events to watch for in the coming days: MAKING IT OFFICIAL: Contracts between Germany’s Federal Institute for Drugs and Medical Devices and the three companies it tentatively selected to cultivate and distribute its medical cannabis could be formalized as early as Wednesday after a mandatory 10-day appeals process expires. […]

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Canadian cannabis extracts industry set to ‘explode this fall’

The marijuana extraction sector in Canada is still in “the early innings” and poised for significant growth after the federal government legalizes concentrates and edibles later this year, according to a market analyst. “What we like about extractors is that there is a long runway of growth ahead,” GMP Securities analyst Martin Landry told Marijuana […]

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Canadian cannabis wholesalers report CBD shortage, while imports lag far behind

Provincial wholesalers and medical patients in Canada report a shortfall of CBD products for the nonmedical and medical markets, and new data released to Marijuana Business Daily suggests imports aren’t enough to fill the gap. Cannabidiol in Canada can be sold to adults only via a provincially or territorially authorized cannabis retailer or directly by […]

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