A long-debated bill to establish new hemp rules in California – but which drew the ire of business owners in both the hemp and marijuana sectors – has gained final approval from state lawmakers. The measure, Assembly Bill 45, easily passed both the state Senate and Assembly this week. It is now on its way […]
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Canadian cannabis industry ‘increasingly fragmented’ despite M&A, record sales
The Canadian cannabis industry is becoming more fragmented than ever, with the biggest licensed producers continuing to lose market share as a whole, according to a report by Bank of Montreal analyst Tamy Chen. Citing data from analytics firm Hifyre, the report notes that the top five licensed producers represented less than 40% of the […]
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How large Canadian cannabis producers are leveraging small-batch craft cultivation
Large Canadian cannabis producers are turning to small-batch cultivators to tap into a growing consumer appetite for higher-quality “premium” marijuana products. To that end, some large licensed producers have entered into partnerships with craft companies. Others have bought them outright, and some are buying craft cannabis in the wholesale market for resale at the retail […]
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Health Canada issues reminder on cannabis potency labeling after Pure Sunfarms complaint
Canadian cannabis regulator Health Canada is reminding licensed producers that their THC and CBD potency labels must reflect laboratory testing results for each individual lot of cannabis. In a market where THC content is a key selling point for dried cannabis, Health Canada’s notice might serve as an important reminder to producers that inaccurate cannabinoid […]
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Marijuana firm Canopy Growth posts CA$136M in net revenue for fiscal Q1
Canadian marijuana producer Canopy Growth Corp. reported net revenue of 136.2 million Canadian dollars ($108.4 million) for the first quarter of its 2022 fiscal year, an 8.2% decline from the CA$148.4 million reported in the fourth quarter of 2021. However, the latest quarterly net revenue total is up 23.4% growth versus the same quarter last […]
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Beena Goldenberg appointed CEO of Canadian marijuana firm Organigram
Canadian marijuana producer Organigram Holdings hired Beena Goldenberg as its new chief executive officer, effective Sept. 9. The move makes Organigram the only major publicly traded Canadian cannabis company with a female CEO. Goldenberg previously served as CEO of Supreme Cannabis, which was acquired by Canopy Growth in a deal that closed in June. Before […]
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Canopy execs earn raises, bonuses after cannabis giant loses CA$1.7 billion
Executives for cannabis producer Canopy Growth received more than 4 million Canadian dollars ($3.2 million) in cash bonuses after making “solid progress in the year,” according to a regulatory filing, even as the company lost CA$1.7 billion and laid off hundreds of workers. The Smiths Falls, Ontario-based company disclosed the executive compensation figures for fiscal […]
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Canopy Growth sued by Cointreau over cannabis beverage name
Canada-based cannabis producer Canopy Growth is being sued in a U.S. federal court by French orange liqueur producer Rémy Cointreau, which alleges that Canopy’s line of “Quatreau” cannabis beverages willfully infringes on the Cointreau trademark. The name of Canopy’s drink (pronounced “Kwatro”) sounds so similar to Cointreau’s own brand name (pronounced “Kwantro”) that “confusion is […]
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Is more consolidation in the cannabis industry on the way?
Last week, Ontario, Canada-based Canopy Growth (TSX: WEED) closed its acquisition of Supreme Cannabis (TSX: FIRE), which is based in Toronto.
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Where a cannabis company trades can have a big impact on liquidity, valuation
Though access to capital for public cannabis companies improved in early 2021, liquidity remains low for the U.S. plant-touching operators in comparison to the Canadian licensed producers. U.S. operators have access only to lower-volume exchanges, such as the Canadian Securities Exchange (CSE) and the over-the-counter-market, which allow “touching the plant” in the U.S., because the […]
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Equity in cannabis: Q&A with Sumayyah Emeh-Edu, Canopy’s VP of diversity and inclusion
Sumayyah Emeh-Edu, the new vice president of diversity, equity and inclusion (DEI) at Canadian cannabis producer Canopy Growth Corp., says marijuana businesses trying to achieve equity can’t rely on goodwill alone. Instead, inclusionary practices must be embedded into the inner workings of a company and guided by leaders who consider diversity a business objective and […]
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Deal reached to sell TGOD’s Quebec cannabis greenhouse at CA$200M loss
Canadian cannabis company The Green Organic Dutchman Holdings (TGOD) entered into an agreement to sell its greenhouse in Salaberry-de-Valleyfield, Quebec, for substantially less than the project’s total cost. The Mississauga, Ontario-headquartered company has agreed to sell the greenhouse for 27 million Canadian dollars ($22.2 million) to another cannabis producer, Cannara Biotech, the companies jointly announced. TGOD […]
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