Hexo Corp. completed the sale of the Niagara, Ontario-based cultivation facility it acquired as part of a 263 million Canadian dollar ($193 million) deal to buy Newstrike Brands last year.
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Aurora Cannabis president stepping down this month
The president of Aurora Cannabis, Steve Dobler, is retiring from the company he helped create seven years ago. Dobler’s retirement from the Alberta cannabis producer is effective June 30, Aurora said in a press release. Dobler has been president of Aurora and a member of the company’s board since 2014. He co-founded the company in […]
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Canadian exports of medical cannabis oil jumped fivefold in 2019
Canadian-produced medical cannabis oil reached more international shores than ever last year as businesses look to leverage their first-mover advantage in new overseas markets.
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As marijuana class action lawsuits surge, experts stress accurate, forthright disclosures
Class action lawsuits against cannabis companies are rising, driven by industry growth, stock price volatility, regulatory uncertainties and preventable mistakes by the companies themselves. The trend shows little sign of abating in the short term, but marijuana companies can reduce their exposure by being more transparent and forthright when disclosing their financials, potential of their […]
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Canada exported record amount of dried cannabis in 2019, but mostly to one market
Canadian businesses exported more dried medical cannabis than ever last year, but that growth is expected to be challenged when the country’s main export destination – Germany – initiates local production later this year.
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Competition grows in Germany’s medical cannabis extracts market
Canadian cannabis producer Tilray announced the availability of a new full-spectrum extract for Germany’s medical market, the company’s first product in that market offering a larger CBD concentration than THC. The product has 5 milligrams of THC per millilitre and 20 milligrams of CBD per millilitre. Tilray’s announcement didn’t disclose the size of the bottle. […]
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Aurora Cannabis unloading Alcanna stake for CA$110M less than it paid
Aurora Cannabis is disposing of another investment for a large loss. The Alberta company said it is unloading its 23% stake in Alcanna, one of the largest retailers of alcohol and cannabis in North America. Alcanna and Aurora entered into an agreement with a group of underwriters who agreed to purchase all the common shares […]
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Week in Review: MA adult-use cannabis stores reopening, High Times deal unravels, Acreage ‘reset’ & more
Massachusetts recreational marijuana retail stores will be allowed to reopen May 25, but sales will be limited to curbside pickup and online or telephone orders. MJBizDaily takeaway: This ends an expensive shutdown and a sore point for rec store operators in Massachusetts, who have seen counterparts across the country generally treated as essential businesses. Gov. Charlie […]
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Aurora Cannabis follows through with promised US entry via $40 million hemp deal
Canadian producer Aurora Cannabis has struck a $40 million stock deal to purchase U.S. hemp firm Reliva, checking off a long-stated ambition for the Alberta company’s executives to enter the United States market. Under the terms of the acquisition, Aurora will pay $40 million of its common shares. The company will pay an an additional […]
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Korean sovereign fund buys into cannabis as Canadian fund slashes Canopy stake
South Korea’s sovereign wealth fund bought up three Canadian cannabis stocks as they dipped to 52-week lows in the first quarter of 2020. Though the value of the cannabis holdings is a modest $8 million, it is the latest sign the stigma associated with the legal industry is slowly eroding in international finance circles. Seoul-based […]
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Aurora Cannabis selling huge Ontario greenhouse for half of asking price
Aurora Cannabis, deep in the red, accepted an offer for its large greenhouse in Exeter, Ontario for what appears to be approximately half of its 17 million Canadian dollar ($12.1 million) listing price, and one-third of the original purchase price. The deal comes amid a broad retreat from some unlicensed and fully licensed cannabis greenhouses […]
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Aurora Cannabis trims loss to CA$137M, says CEO search on track
Aurora Cannabis improved its net loss to 137 million Canadian dollars ($97 million) in its third quarter, a significant improvement over the company’s CA$1.3 billion net loss in the previous three-month period. The Alberta cannabis producer’s adjusted EBITDA loss for the quarter ending March 31 was CA$45 million. The company maintains it is on track to be […]
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