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Canopy to buy Supreme for CA$435 million as cannabis M&A heats up

Canopy Growth announced plans to acquire competing Canadian marijuana producer The Supreme Cannabis Co. in a stock-and-cash deal valued at roughly 435 million Canadian dollars ($345 million). The pending acquisition continues a recent consolidation trend in the Canadian cannabis industry, amid an oversupply situation that has put pressure on many producers. Competitors Aphria and Tilray announced […]

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Canada extends wage subsidy popular with cannabis producers

Canada’s government is extending a pandemic-related wage-subsidy program that has been tapped by more than a dozen federally regulated cannabis producers. The Canada Emergency Wage Subsidy (CEWS) program, which subsidizes wages for employers that have lost revenue because of the COVID-19 crisis, was set to expire March 13. The program has been extended to June […]

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Green Organic Dutchman weighs sale of cannabis greenhouse in Quebec

The Green Organic Dutchman is considering the sale of its mammoth cannabis greenhouse in Salaberry-de-Valleyfield, Quebec, only about two months after the Mississauga, Ontario-based licensed producer increased its stake in the property to 100%. “Multiple bids are being considered, and the transaction could result in a complete or partial sale of the site,” the company […]

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Will GW’s multibillion-dollar sale ‘open floodgates’ to pharma-cannabis deal-making?

Jazz Pharmaceuticals’ planned $7.2 billion takeover of United Kingdom-based GW Pharmaceuticals could kick off a wave of deal-making between pharma and medical cannabis companies, analysts and industry sources say. But rather than all cannabis producers benefiting, only businesses that have marketable intellectual property and an established foothold in the medical cannabinoid arena will draw serious […]

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What marijuana investors can learn from GameStop trading frenzy

Last week’s meteoric rise of GameStop’s shares made headlines, but what should be made of it? And what can we learn from it for marijuana? What happened with GameStop is a short squeeze. The same thing happened to Tilray in 2018, Volkswagen in 2008 and supermarket operator Piggly Wiggly in the 1920s. While it is possible to […]

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France chooses companies to supply free medical cannabis for trial program

The French Agency for the Safety of Medicines and Health Products (ANSM) selected the companies that will supply France’s medical cannabis pilot program that’s intended to provide free products to patients enrolled in the trial. Cannabis companies from Australia, Canada, Israel and the United Kingdom – in partnership with French pharmaceutical distributors – will provide […]

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Cannabis firm Aphria grows Q2 revenue, reports CA$120.6M net loss

Canadian cannabis company Aphria on Thursday reported increased quarterly revenue for the quarter ended Nov. 30, with a net loss of 120.6 million Canadian dollars ($95.3 million). The Ontario-based firm posted net revenue of CA$160.5 million, a 10% increase over the previous quarter. Net cannabis revenue comprised CA$67.9 million of Aphria’s net quarterly income, compared […]

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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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