Cronos Group

Canadian producers no longer must store cannabis in bank-like vaults

Health Canada has introduced new security measures that could save early stage cultivation applicants hundreds of thousands of dollars and improve operational efficiencies for current producers, according to analysts. Effective immediately, marijuana producers will no longer be required to store their inventory in bank-like vaults, which can cost up to 500,000 Canadian dollars ($405,000). Instead, […]

Read More

Canadian cannabis companies ink deals for nearly CA$1B in funding in 10 days

Capital is pouring into the Canadian marijuana sector faster than ever, as companies prepare for the country’s anticipated adult-use legalization this summer and bulk up for international expansion. Through the first 10 days of 2018, companies closed on a variety of funding deals or announced financing plans worth at least 978 million Canadian dollars ($780 […]

Read More

Deal will allow CanniMed to distribute medical marijuana in 17 countries  

A major Canadian licensed producer has sealed an arrangement with a Dutch pharmaceutical distributor to market and sell its medical marijuana products in 17 countries. Saskatchewan-headquartered CanniMed Therapeutics, traded on the Toronto Stock Exchange as CMED, entered into a global marketing and distribution agreement with Fagron NV of the Netherlands. Financial terms were not disclosed. Under […]

Read More

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.

Read More

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 […]

Read More

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.

Read More

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 […]

Read More

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 […]

Read More

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 […]

Read More

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. […]

Read More

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 […]

Read More