Cannabis producer Canopy Growth is shuttering more facilities across Canada amid a fresh round of layoffs in an effort to streamline operations and improve margins, the struggling company announced Wednesday. The cuts come amid a broad supply-demand im…
Author: Matt Lamers
Ontario to license cannabis stores faster as authorizations surpass 300
Ontario’s cannabis store regulator is again doubling the number of Retail Store Authorizations (RSA) it is issuing per month. The Alcohol and Gaming Commission of Ontario (AGCO) said it is picking up its pace with the goal of issuing 20 RSAs per week, …
Ontario criticized for not properly monitoring cannabis inventory
Ontario’s adult-use cannabis regulator has not been adequately monitoring the movement of marijuana products in the province’s growing number of retail stores, according to Ontario Auditor General Bonnie Lysyk. Ontario marijuana stores had 84,228 fewer…
Canadian cannabis greenhouse space in retreat as outdoor capacity doubles
Canadian cannabis producers were sitting on nearly three times more licensed outdoor-grown canopy than indoor capacity in August, the latest data from the country’s federal regulator shows. The gap between indoor and outdoor cultivation is wideni…
UK mum as it holds up British Virgin Islands cannabis law, delaying industry’s launch
The United Kingdom’s representative has so far declined to sign off on a new law in the British Virgin Islands (BVI) to permit medical cannabis production and sales, causing an “unnecessary” delay in getting the medical marijuana industry u…
CannTrust to resume cannabis sales in Alberta, British Columbia and Ontario
Cannabis producer CannTrust said it’s returning to the Canadian recreational marijuana market this month as the embattled company looks to open a new chapter more than a year after being censured for serious regulatory violations. The Vaughan, On…
Zenabis selling cannabis facility for half of original asking price
Vancouver-based Zenabis Global has reached a conditional agreement for the sale of its facility in Delta, British Columbia, for what appears to be half of the original listing price. The conditional deal comes as large Canadian marijuana producers look…
Aurora Cannabis shuts CA$250 million greenhouse ‘indefinitely’
Aurora Cannabis says it’s pausing operations at its Sun greenhouse in Medicine Hat, Alberta, “indefinitely.” The closure represents the latest casualty after the industry significantly overshot the production capacity needed to meet demand in Canada…
Canadian cannabis firm Organigram reports CA$136M loss for year
New Brunswick-based cannabis producer Organigram reported a net loss of 136 million Canadian dollars ($105 million) for its fiscal year 2020, a substantial increase from the company’s previous annual loss of CA$9.5 million. Organigram lost CA$39 …
Cannabis NB expects CA$10M profit; privatization update ‘in near future’
New Brunswick’s cannabis retail monopoly Cannabis NB expects to end its fiscal year with a profit of over 10 million Canadian dollars ($7.7 million). “We are excited to have achieved an important milestone — 12 consecutive months of profitability,” Can…