CannTrust

CannTrust’s Q1 revenue doubles on medical marijuana sales; net income up

Ontario, Canada-based CannTrust Holdings reported that first-quarter revenue more than doubled from a year earlier, mostly on the back of rising medical marijuana sales, while the company’s net income inched higher. Adult-use sales, however, struggled. First-quarter revenue jumped 115% from a year earlier to 16.9 million Canadian dollars ($12.6 million), thanks to strength in the […]

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CannTrust plans massive outdoor cannabis grow in Canada, explores US move

Ontario-based cannabis firm CannTrust plans to establish a large outdoor grow operation in Canada to provide low-cost production inputs for extraction-based products. CannTrust “believes it will be a leader in outdoor growing capability, which will leverage its proprietary genetics and has the potential to accelerate the company’s low-cost production advantage,” the firm wrote in a […]

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Ontario marijuana company CannTrust seeks authorization to raise up to CA$700 million

Ontario-based cannabis producer CannTrust Holdings has laid the groundwork to raise up to $700 million Canadian dollars ($525 million) by filing a base level prospectus with Canadian securities agencies and the U.S. Securities and Exchange Commission. When made final, the filing would allow the company to offer debt securities, warrants, subscription receipts and units or […]

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Mold, labeling errors cause rash of cannabis recalls in Canada

A number of cannabis recalls over labeling errors and mold is a sign that the federal health department’s regulatory oversight is working, an industry representative said. Seven notices involving cannabis have been posted to Health Canada’s recall portal since Oct. 17, representing a fraction of the overall production. No recall notices were posted in the […]

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Wall Street bank: Fears on cannabis commoditization overdone

A New York-based investment bank initiated coverage of the cannabis industry Monday, another sign that Wall Street prudence is catching up to main street excitement over the burgeoning sector. The global marijuana industry has a “base-case conservative” forecast worth roughly $50 billion in the next decade, Jefferies Group said in its initiating report, and a […]

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Report: Largest marijuana firms already control most of Canada’s regulated adult-use market

Canada’s largest licensed cannabis producers already have a stranglehold on the country’s regulated recreational market just four months into legalization, according to analysts. Canaccord Genuity estimates Canopy Growth and Aurora Cannabis combined represented almost 50% of the sales volume in the first three months of legalization. “After including estimated contributions from Tilray and Aphria, we […]

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New Brunswick signs new cannabis supplier amid shortage, in talks with others

New Brunswick’s wholesaler of adult-use marijuana signed up another supplier to meet sky-high demand, and the province confirmed it is in talks with other licensed producers to fill a significant supply shortfall. Supreme Cannabis Company subsidiary 7Acres entered into an agreement with the New Brunswick Liquor Corp. (NBLC) to supply an undisclosed amount of marijuana […]

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Victoria’s aim to be Australian ‘cannabis capital’ challenged by patient access issues

An Australian state’s ambition to be the nation’s “medical cannabis capital” is unlikely to succeed unless market access for local patients substantially improves, experts note. Patient access to medical cannabis remains a serious concern despite marked improvements over the past year. “The crux of the problem is, we can’t produce medical cannabis products for our market […]

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Big Pharma ‘missing link’ in Canada’s emerging marijuana industry

The entrance of multinational pharmaceutical companies into Canada’s cannabis sector will mark one of the next major themes in the industry, analysts told Marijuana Business Daily. Such eventual moves by Big Pharma will provide even more credibility to a sector that has already seen the entrance of alcohol and tobacco giants. “The missing link is […]

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Trend halted: Medical marijuana patient growth accelerates in Canada

Canada added more than 34,000 registered medical cannabis patients in the second quarter of this year, an increase of just over 11% from the previous quarter, according to new data from Health Canada. The increase ended five consecutive quarters of slowing growth in the number of registered patients. The last time Canada saw accelerating quarterly […]

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