Decibel Cannabis Co. recorded net income of 1.7 million Canadian dollars ($1.3 million) for the 2021 fiscal year and positive adjusted EBITDA of CA$7.4 million on the back of growing cannabis sales.
Organigram reported positive adjusted EBITDA of 1.6 million Canadian dollars ($1.27 million) on the back of growing international medical cannabis sales in the second quarter, marking a key milestone for the Moncton, New Brunswick, producer.
Labatt Breweries of Canada, one of the country’s top beer makers, pulled the plug on its nonalcoholic CBD beverage unit in Canada, Fluent Beverages, signaling continued pressure on the nation’s fledgling infused-drinks category.
A pilot program to allow the limited cultivation and distribution of recreational cannabis in the Netherlands has been hit with another major delay.
A Florida company with “conditional approval” from the U.S. Drug Enforcement Administration to cultivate marijuana for research purposes could become the first U.S.-based plant-touching business to trade on the Nasdaq market.
Despite the success of adult-use marijuana, 2022 is looking like the year pharmaceutical cannabis becomes a major market driver.
Major Canadian marijuana producer Hexo Corp. posted a net loss of nearly 690.3 million Canadian dollars ($547 million) for the quarter ended Jan. 31, including write-downs worth CA$616 million.
A nearly five-year legal battle over ownership of Colorado marijuana retail chain Native Roots has almost come to a close, with two of the owners winning a $140 million judgment against their partner for breach of contract.
Cannabis multistate operator MedMen Enterprises is trying to recover $612,000 in legal fees it previously was ordered to pay its former chief financial officer in conjunction with a lawsuit he filed against the company.
Health Canada seized more than 35 million grams (77,162 pounds) of cannabis products and thousands of plants from federal license holders for regulatory shortfalls in the 2019-20 fiscal year, the federal regulator disclosed to MJBizDaily.
Marijuana has become part of the hype and hoopla running up to Sunday’s Super Bowl.
But it’s not because the league suspended any players for failing or missing testing for such banned substances as marijuana, as it has in past seasons with star players such as Josh Gordon, Von Miller and Santonio Holmes.
Canada’s recreational marijuana sales could reach 4.8 billion Canadian dollars ($3.8 billion) this year, which would be 19% more than 2021’s estimated figure, a new report from ATB Capital Markets anticipates.
