The upside of uplisting cannabis stocks: Q&A with Curaleaf CEO Matt Darin
CEO Matt Darin discusses Curaleaf’s interest in uplisting to a larger stock exchange, recent layoffs and New York’s adult-use cannabis market.
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CEO Matt Darin discusses Curaleaf’s interest in uplisting to a larger stock exchange, recent layoffs and New York’s adult-use cannabis market.
Cannabis producer Organigram Holdings said its sales soared in the fourth quarter and for the year ended Aug. 31, rising to 45.5 million Canadian dollars ($33.5 million) and $145.8 million, respectively.
The Molson Coors Beverage Co. is getting out of the CBD drink business in the United States and ending its U.S. Truss joint venture with Canadian cannabis producer Hexo Corp. as of Dec. 31.
Canada’s regulated medical cannabis market has dwindled significantly from its peak, declining well before recreational marijuana legalization in October 2018 and continuing that downward trend as adult-use sales displaced purchases through regulated medical channels.
Monthly Canadian sales of legal adult-use cannabis barely increased between August and September, totaling 389.9 million Canadian dollars ($291 million).
Vancouver, British Columbia-based cannabis producer Rubicon Organics said it recorded adjusted EBITDA profitability, net profit from operations and positive free cash flow in its quarter ended Sept. 30.
Canadian cannabis company Entourage Health Corp. is laying off roughly 35% of its staff as it ends its cultivation operations and sources adult-use and medical marijuana from Hexo Corp via a new supply agreement.