On-again, off-again merger talks between rival cannabis producers Tilray and Aphria had their genesis in October 2019 when an unidentified investment bank active in the marijuana space pitched a meeting between the company’s respective CEOs, acco…
Canadian Medical Marijuana & Cannabis Industry News
Canadian marijuana firm Canopy Growth files $2 billion shelf prospectus
Canadian marijuana producer Canopy Growth filed a preliminary short-form base shelf prospectus enabling the company to raise up to $2 billion (2.5 billion Canadian dollars) in one or more series or issuances of securities over a 25-month period. It sig…
Aurora says its Danish cannabis has reached German pharmacies
A subsidiary of Canada’s Aurora Cannabis says its “made in Denmark” medical cannabis products have reached some Germany pharmacies for the first time – a milestone years in the making. The German distribution comes before the products…
Canadian cannabis retailer Fire & Flower strikes US licensing deal
Major Canadian cannabis retailer Fire & Flower Holdings is making moves into the United States, licensing its brand and technology to American Acres Managers, a private Canadian firm with marijuana retail ambitions in Arizona, California and Nevada…
Green Organic Dutchman weighs sale of cannabis greenhouse in Quebec
The Green Organic Dutchman is considering the sale of its mammoth cannabis greenhouse in Salaberry-de-Valleyfield, Quebec, approximately two months after the Mississauga, Ontario-based licensed producer increased its stake in the property to 100%. “Mul…
New cannabis SPAC raises $150 million in IPO for US acquisitions
Choice Consolidation Corp., a new cannabis industry special purpose acquisition company (SPAC), raised $150 million in an initial public offering on the Canadian NEO Exchange. “We are thrilled to make our public market debut on the NEO Exchange a…
Canada tallies CA$2.6 billion in cannabis sales for 2020, up 120% over 2019
Canadian sales of legal recreational cannabis totaled 2.6 billion Canadian dollars ($2.08 billion) in 2020, as December sales increased from a relatively sluggish November. Licensed marijuana retailers across the country sold CA$298.4 million worth of …
How a $100M global cannabis deal came together over Zoom: Q&A with IMC’s Oren Shuster
Negotiating an international cannabis merger worth roughly $100 million is hard enough – but doing so during a global pandemic is downright daunting. That’s what Israel’s IM Cannabis had to do when it agreed in late 2020 to acquire To…
Canadian marijuana producer Tilray reports $271 million loss for year
Cannabis producer Tilray cut its annual loss to $271 million for 2020, an improvement from the Nanaimo, British Columbia company’s $321 million loss in 2019, according to the full-year and fourth-quarter results released Wednesday. Tilray, which is on …
Hexo strikes deal to acquire Zenabis for CA$235M, eyes European cannabis market
Ottawa, Ontario-headquartered cannabis producer Hexo Corp. on Tuesday entered a definitive arrangement agreement to buy struggling competitor Zenabis Global for 235 million Canadian dollars ($185 million) in stock. The proposed acquisition of Vancouver…