weedmd

Cannabis firm WeedMD borrows CA$30M from Canadian pension fund

Canadian cannabis grower WeedMD secured a loan worth 30 million Canadian dollars ($22.5 million) from the LiUNA Pension Fund of Central and Eastern Canada, a retirement plan associated with the Laborers’ International Union of North America. “This $30 million of nondilutive financing will enhance our liquidity position and provide additional working capital at this inflection […]

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As outdoor cannabis approvals grow in Canada, COVID-19 not expected to delay planting season

Health Canada approvals for outdoor cannabis cultivation have increased by more than 25% in the past few months, and growers are bullish for now despite the COVID-19 pandemic that’s encroaching into planting season. Canadian outdoor cannabis producers contacted by Marijuana Business Daily said they expect their open-air crops will proceed as usual this year. For example, […]

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Approvals soar for outdoor cannabis cultivation in Canada, with 100-plus applicants in line

As a growing number of Canadian cannabis cultivators retreat from costly greenhouse expansions, more applicants than ever are readying lower-cost outdoor projects. The number of authorizations to cultivate marijuana outdoors doubled to 33 so far this year from last summer’s 17, according to new figures from Health Canada. Ten of those are micro-cultivators, meaning they’re […]

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Canadian Chamber throws weight behind marijuana industry

Canada’s largest business association is throwing its weight behind the cannabis industry. Canada must do more to realize the full economic potential of the country’s marijuana sector, according to the Canadian Chamber of Commerce. The Chamber has established the National Cannabis Working Group to advocate on businesses’ behalf to improve the sector’s competitiveness. “This partnership […]

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‘Christmas is coming early’: Canada’s draft rules for marijuana edibles expected in coming weeks

Hotly anticipated draft regulations to allow legal sales of cannabis edibles and concentrates in Canada are expected to be released before Christmas, according to sources, paving the way for a new wave of businesses and entrepreneurs aiming to capitalize on the country’s recreational marijuana industry. Edibles sales will begin next year, opening a potentially huge […]

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Canadian companies gear up for cannabis-infused market before legalization

Canadian companies are getting a head start on the country’s marijuana-infused beverages industry, even before legislation has been introduced to legalize THC-added products. Companies are turning to cannabidiol, which does not have psychoactive effects and is already legal, to get a leg up on competitors. Recreational cannabis flower and oil are expected to be legalized in Canada by the […]

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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 […]

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Ontario producer to supply cannabis oil to nursing homes

WeedMD, a licensed marijuana producer in Ontario, has signed a deal to serve as the “preferred supplier” of cannabis oil to three long-term care and retirement community operators. The Aylmer company said the deal reflected its efforts to capitalize on a Canadian market where a growing number of senior citizens are considering MMJ as a treatment option, […]

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