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…
Canadian Medical Marijuana & Cannabis Industry News
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…
Colombian cannabis producers raise fresh rounds of capital
Some leading licensed cannabis producers in Colombia raised fresh rounds of capital recently. Khiron Life Sciences – a Toronto-based company with its main operations in Colombia – closed a bought deal for 14.5 million Canadian dollars ($11.5 million), …
As consolidation hits Canadian cannabis retail, more mergers and acquisitions expected
Consolidation is picking up among Canada’s regulated cannabis retailers as recreational marijuana sales continue their upward monthly trend, with industry insiders predicting more store mergers and acquisitions. The retail M&A trend appears t…
Supply-demand imbalance grows for Canadian cannabis edibles
Makers of edible cannabis products in Canada continue to stock more goods than they’re able to sell, the latest data from Canada’s cannabis regulator shows. In August, federal license holders, provincial distributors and retailers held almost 10 millio…
Cannabis delivery, curbside pickup return to parts of Ontario — but for how long?
Private-sector Ontario cannabis retailers may once again offer home delivery and curbside pickup during a month-long pandemic lockdown in two heavily-populated regions, but it remains unclear how long the government will continue permitting those servi…
C-Shop cannabis stores reopen in Newfoundland as strike ends
A strike that shuttered 10 of Newfoundland and Labrador’s 27 licensed marijuana stores has come to an end. The C-Shop cannabis store locations, which are located inside Dominion grocery stores and staffed by Dominion workers, closed in August whe…
Canadian legal marijuana sales exceed CA$256 million in September
Canadian sales of regulated cannabis reached 256.3 million Canadian dollars ($196.4 million) in September, a 1.85% increase over August’s sales as the pace of monthly growth slowed. Statistics Canada’s September’s cannabis sales figur…