Cronos Group

Canadian marijuana producers have bankrolled more than enough capacity to meet rec demand

If a recreational marijuana shortage materializes in Canada come 2019 – as most industry observers predict – don’t blame Health Canada, which more than doubled the number of production licenses it granted in 2017.

Instead, look to regional supply imbalances – possibly in provinces that opt to sell adult-use cannabis through government-run retail outlets – and producers who fail to live up to their cultivation targets.

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Canadian medical cannabis company inks deal to supply German pharmacies

A Canadian medical marijuana company secured a deal with Germany’s CC Pharma GmbH to export MMJ products for distribution through thousands of German pharmacies. Nuuvera Inc. – which has a strategic partnership with Aphria (TSE: APH) to build a 1-million-square-foot greenhouse – will supply approximately 1,200 kilograms of medical cannabis to CC Pharma, which distributes pharmaceuticals to over […]

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Cronos increased financing deal to secure CA$40M for marijuana R&D

A Canadian medical marijuana producer announced a stock-purchase deal to raise 40 million Canadian dollars ($32 million) in capital, which it intends to apply to research and development.

After the deal closes later this month, Cronos will have raised more than CA$130 million since the beginning of 2017, including CA$40 million in debt.

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Cronos CEO Mike Gorenstein: ‘Reckoning’ is coming for Canada’s marijuana companies

Cronos Group isn’t the kind of company to promise the moon and deliver a pizza. That’s why the Toronto-based firm announced its intentions for a massive expansion after breaking ground on a 315,000-square-foot facility earlier this year. It’s all part of CEO Mike Gorenstein’s plan to be realistic with the company’s production targets. “This is […]

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Canada’s Maricann looks to sell medical marijuana in German pharmacies

Ontario-based Maricann expects to start shipping dry cannabis flower to Germany in early 2018, making it the latest Canadian company to export medical marijuana to what could soon become the world’s largest MMJ market. The company’s German subsidiary, Maricann GmbH, also applied for a license to import Maricann’s cannabis from Canada with the intention of distributing […]

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Cronos Group raises CA$17 million to fund R&D, boost marijuana production

Cronos Group has closed a stock deal that raised 17.2 million Canadian dollars ($13.5 million) to fund research and development, expand Canadian cannabis production capacity and develop distribution infrastructure. The deal brings to CA$90 the amount of capital the company has raised so far this year, including CA$40 million in debt, President and CEO Mike Gorenstein […]

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Canadian marijuana producers form co-op to sell rec products

A dozen of Canada’s largest marijuana producers have come together to form the Canadian Cannabis Co-op and are offering to bankroll a “turn-key” retail network in Alberta to sell adult-use products alongside private retailers and government-run outlets. The group, which unveiled its plans in a news release, hopes to extend the initiative to other provinces. […]

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Canopy Growth moves into Danish medical cannabis market

Canopy Growth signed a strategic partnership to expand into Denmark and will invest 10 million Canadian dollars ($8.12 million) in the joint venture, continuing the flurry of activity in Europe by Canadian marijuana companies. Canopy Growth will form a joint venture with Danish Cannabis ApS, to be called Spectrum Denmark, to serve the needs of Danish medical […]

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Aurora starts ‘regular’ shipments of medical marijuana to Germany

Aurora Cannabis sent its first shipment of medical marijuana to Germany, a market with so much growth potential that Canadian licensed producers have been racing to gain a toehold there. Monday’s shipment of 50 kilograms (110 pounds) of dried cannabis to Berlin-based Pedanios represents “a critical step” in Aurora’s international expansion strategy and provides a gateway to […]

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Canadian marijuana firms raised $165.9M via debt instruments this year – and that’s just the start

By Matt Lamers

Canadian medical marijuana companies are starting to tap debt markets in a big way to fund their explosive growth, which until earlier this year had been financed almost entirely through stock offerings.

Cannabis companies raised $165.9 million via debt instruments – including convertible bonds, debentures and term loans – through August.

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