Canada’s cannabis industry prays for tax reform in federal budget

Canada’s Liberal government unveils its 2024 budget on Tuesday, and the country’s cannabis industry wants one thing above all: relief from a heavy excise-tax burden.

Canadian, British cannabis companies Aqualitas and Cannaray to merge

Medical cannabis companies from Canada and Britain are joining forces to create a global, vertically integrated business to tap opportunities in Europe and beyond.

US receives first DEA-sanctioned cannabis import from Jamaica

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.

Quebec cannabis store SQDC posts CA$33 million third-quarter net income

Quebec’s government-owned cannabis retail monopoly reported net income of $33 million Canadian dollars ($24.5 million) for its third quarter.

Israel launches ‘anti-dumping’ probe into Canadian cannabis companies 

Israel has opened an “anti-dumping investigation” concerning the importation of medical marijuana from Canada after finding “a causal link” between the imports and “damage” to Israel’s local cannabis industry.

CEO, board chair exit marijuana MSO MedMen

Los Angeles-based marijuana multistate operator MedMen Enterprises has experienced another shakeup in its executive suite, with CEO Ellen Deutsch Harrison stepping down on Jan. 19.

Panama awards licenses to 7 medical cannabis businesses

Seven companies in Panama were granted licenses to manufacture medical cannabis products after a lengthy evaluation by the country’s National Directorate of Pharmacy and Drugs.

Cannabis firm Canopy Growth set to consolidate shares

Canopy Growth Corp. is set to become the latest cannabis producer to consolidate its shares to maintain its listing on the Nasdaq exchange.

Why was the Ontario Cannabis Store sitting on a CA$500 million cash stockpile?

Ontario’s government-owned marijuana wholesaler was sitting on more than 500 million Canadian dollars ($367 million) in cash earlier this year, but officials have declined to spell out why the Ontario Cannabis Store held on to that much money rather than remit some of it back to the provincial government earlier.

Vote on Germany’s cannabis law delayed until 2024

Germany’s parliament won’t have an opportunity to put the first phase of the country’s pending cannabis legislation to a vote this year.