TerrAscend Corp. is the latest marijuana multistate operator to announce a plan to stop paying taxes owed under Section 280E of the Internal Revenue Code, and an executive hinted at the company’s legal basis for doing so.
Major marijuana multistate operator Curaleaf Holdings posted $345.3 million in net revenue for the fourth quarter of 2023, an increase of 1.5% over the same quarter the year before and 3.6% over the third quarter.
British Columbia producer Avant Brands reported record net revenue of 26.3 million Canadian dollars ($19.4 million) from the sale of 7,105 kilograms (15,663 pounds) of cannabis.
Canadian cannabis producer Cronos Group cut its loss in half in 2023, reporting a deficit of $74.5 million (101 million Canadian dollars).
A growing number of Canadian cannabis producers continue to rack up tax debt, which could lead to “a meaningful number” of companies going out of business if they’re unable to make those payments, according to the latest tax data and industry analysts.
Aurora Cannabis says it has repaid the remaining balance of its convertible senior notes, a landmark in the Canadian producer’s efforts to cut its debt and save on interest payments.
Canada’s federal government collected more excise tax revenue from cannabis than it did from beer and wine for the first time last year.
Canada’s tax collection agency is following through on a threat to garnish cash from licensed cannabis producers that are delinquent on their excise duty payments, MJBizDaily has learned.
A Canadian-Jamaican company comprised of former veterans of Steep Hill Labs and Canopy Growth Corp. has shipped what it claims is the first Drug Enforcement Administration-sanctioned export of cannabis products from Jamaica to the United States.
Canadian recreational cannabis sales were worth 5.07 billion Canadian dollars ($3.8 billion) in 2023, an increase of 12.2% compared to 2022, according to government retail sales data released Thursday.
Aurora Cannabis appointed Simona King, a veteran executive of multinational pharmaceutical company Bristol Myers Squibb, as chief financial officer.
MJBizDaily asked six experts from across the country to answer the question: Why isn’t Canada’s cannabis market thriving? Here’s what they said …
