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Organigram revenue stalls on erratic inventory, unfulfilled demand

New Brunswick-based cannabis producer Organigram continues to struggle, reporting lower sales and a bigger loss for its first quarter ended Nov. 30, 2020. Net revenue for the three-month period fell to 19.3 million Canadian dollars ($15 million), lower than the previous quarter’s CA$20.4 million. Organigram’s adjusted EBITDA loss grew to CA$6.4 million from a loss […]

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DEA might start issuing cannabis cultivation permits in early 2021

After years of delay, the U.S. Drug Enforcement Administration could soon begin issuing licenses to businesses and institutions to cultivate cannabis for scientists researching the plant. “I expect them to start issuing licenses no later than the first half of 2021,” said Richard Shain, president of Maridose in Boca Raton, Florida. Maridose is one of […]

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Cannabis M&A activity intensifies as investor sentiment brightens since November election

Cannabis mergers and acquisitions are heating up, with more than $600 million worth of deals announced on Tuesday alone – and that’s on top of additional transactions unveiled since the U.S. presidential election last month. New York-based multistate marijuana operator Columbia Care on Tuesday announced a definitive agreement to acquire privately held Green Leaf Medical […]

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Uruguay completes another large export of high-THC flower to Portugal

Uruguay-based Fotmer completed another large export of high-THC flower to Portugal at the end of November, according to Uruguayan customs records viewed by Marijuana Business Daily. The company declared two exports, each with a value of almost $1.3 million, on Nov. 24 and Nov. 25, respectively. The new shipments are further proof that exporting flower […]

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Zenabis selling cannabis facility for half original asking price

Vancouver, British Columbia-based Zenabis Global reached a conditional agreement for the sale of its facility in Delta, B.C., for what appears to be half the original listing price. The conditional deal comes as large Canadian marijuana producers look to unload indoor and greenhouse cultivation properties to reel in industrywide excess supply. The gross purchase price […]

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