aurora cannabis

Canadian cannabis group appeals to Trudeau to help fix industry challenges

An industry group representing Canada’s biggest cannabis companies is appealing to Prime Minister Justin Trudeau to help address some of the industry’s most persistent challenges. In a letter sent to Trudeau on Nov. 9 and made public Thursday night, the Cannabis Council of Canada highlighted a number of areas in need of improvement, including a […]

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Aurora Cannabis ceases construction at Alberta, Denmark facilities as losses widen

Aurora Cannabis is ceasing construction at its large second-phase facility in Denmark and deferring most of the final construction at its Aurora Sun facility in Medicine Hat, Alberta, as the company’s losses widened substantially in the quarter. The moves would save Aurora a combined 190 million Canadian dollars ($143 million) in the coming year. Aurora said the […]

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Cannabis extraction firm MediPharm seeks Nasdaq listing

Barrie, Ontario-based cannabis extraction company MediPharm Labs has applied to list its shares on the Nasdaq amid a heightened period of volatility for marijuana stocks in North America. If approved for trading, MediPharm would join a growing list of Canadian cannabis companies turning to the top U.S. stock exchanges to tap the globe’s largest pool of institutional […]

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‘No longer a shortage,’ Canadian cannabis industry group declares

The shortage of cannabis that plagued businesses in the early months of legalization is over, according to an industry group representing Canada’s biggest marijuana producers. “There is ample supply of cannabis for the adult recreational market,” Cannabis Council of Canada wrote in an open letter to Ontario Premier Doug Ford, who cited the shortfall when […]

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Danish medical cannabis sales stall on supply, price issues

Denmark’s medical cannabis pilot program saw virtually no quarter-over-quarter growth in the first half of 2019, according to new Danish Health Authority data. Experts say the market was hampered by a combination of prohibitively priced imports and supply issues. In the second quarter, 1,844 cannabis prescriptions were redeemed by 1,045 patients under Denmark’s four-year medical […]

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German cannabis firm Demecan secures 7 million euros in financing

German medical cannabis company Demecan has secured 7 million euros ($7.6 million) in financing to expand production in Europe’s largest medical market. The fresh capital – from btov Partners, a European venture capital firm, and a German single family office – comes as international companies establish footholds in the important European Union market. Constantin von der Groeben, Demecan’s managing director, […]

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‘Groundbreaking’: 48North’s purchase of US cannabis company signals major shift by TSX Venture Exchange

The TSX Venture Exchange (TSXV) appears to be easing its opposition toward Canadian cannabis companies buying U.S. marijuana businesses. The move would mark a major shift for the Canadian exchange and could open the door to more cross-border acquisitions – provided the deals meet strict conditions. The apparent change in stance comes after a Canadian […]

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Canadian cannabis firms burn through cash amid ‘unmitigated retail disaster’

Cannabis producers in Canada with fewer than six months of cash on hand may have to rethink planned facility expansions if revenues continue to come in lower than expected, according to an analyst. Greg McLeish of Mackie Research reviewed financial statements of 50 publicly traded cannabis companies. He found that 21 have fewer than six […]

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Reports: Former cannabis heavyweight Tikun Olam to sell Israeli assets for $42 million

Tikun Olam, once one of the world’s leading medical cannabis companies, is selling its domestic assets for $42 million – or about half of its asking price of $100 million – according to Israeli media reports. Cannbit Pharmaceuticals has reportedly agreed to buy Tikun Olam’s operations in Israel. Rivals Bazelet Group and InterCure were also […]

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Aurora plots ‘significant’ US marijuana entry in ‘very short period’

Canada’s largest medical cannabis company by revenue and production is planning to make a “significant” splash in the near future on another point of entry in the U.S. market, one of the company’s executives said in an interview. Aurora, based in Edmonton, Alberta, already has arms-length involvement in the United States through Australis Capital, a […]

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Aurora Cannabis reports revenue of CA$99 million, a 418% jump

Alberta-based Aurora Cannabis reported net revenue of 99 million Canadian dollars ($75 million) in its most recent quarter, a 418% increase from CA$19 million in the same quarter last year. However,  international sales amounted to only CA$4 million in Aurora’s fiscal fourth quarter, which ended June 30. Aurora saw improvements across the board in its […]

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