Canopy Growth

Canadian medical cannabis exports tripled last year, as race for European market position intensifies

Exports of medical cannabis from Canada soared last year as the country’s biggest licensed cannabis companies continued to establish beachheads in new medical markets overseas. Shipments of dried cannabis tripled to 1,460 kilograms (3,219 pounds) in 2018, compared with 500 kilograms in 2017 and only 44 kilograms in 2016. Exports of medical cannabis oil doubled […]

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Canopy enlists celebrity Martha Stewart as CBD ‘adviser’

Canopy Growth has lined up celebrity lifestyle guru Martha Stewart to advise the Canadian cannabis company in developing a new line of goods, including hemp-derived CBD products. Stewart said their first collaboration will offer products for pets. “As soon as you hear the name Martha, you know exactly who we’re talking about,” Canopy Growth co-CEO […]

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Walmart Canada removes Canopy Growth’s cannabis vaporizer from website

Walmart Canada removed a popular medical marijuana vaporizer from its online store last month and now says it has no immediate plans to sell cannabis-related products. The Storz & Bickel Volcano Medic Vaporizer, a product owned by cannabis giant Canopy Growth, was removed from the Walmart.ca website at the end of January. It had been […]

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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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Major Canadian pension fund loads up on cannabis stocks

One of Canada’s biggest pension managers increased its stake in Canopy Growth and took positions in three more Canadian cannabis companies recently, giving a vote of confidence to long-term investors in the booming industry. The Public Sector Pension Investment Board (PSP) – with 153 billion Canadian dollars ($130 billion) of net assets – disclosed it had purchased […]

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Cannabis giant Canopy cites ‘spreadsheet error’ for under-reporting adjusted EBITDA

Canada’s leading cannabis company, Canopy Growth, was forced to refile its management discussion and analysis (MD&A) with the Canadian Securities Administrators to correct adjusted earnings before interest, tax, depreciation and amortization (EBITDA). The original MD&A stated that the adjusted EBITDA loss for the nine months ended Dec. 31, 2018, was 69 million Canadian dollars (CA$52 […]

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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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Canopy’s European cannabis production center expects first sales in September

Sales from Canopy Growth’s large cannabis production center in Denmark are expected to start in September, expanding the limited medical marijuana supply in the German market and giving a boost to the Canadian company’s international revenue. Canopy is among a number of major Canadian cannabis firms using Denmark as a springboard to meet soaring demand for medical […]

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