The Canadian cannabis industry should brace for more facility closures, bankruptcies and consolidation amid a worsening oversupply situation, Jefferies analyst Owen Bennett warned this week following a Marijuana Business Daily report drawing attention …
Canadian Medical Marijuana & Cannabis Industry News
Canadian marijuana retailer High Tide buys US online head shop for $8 million
Calgary, Alberta-based marijuana retailer High Tide is spending $8 million to acquire Smoke Cartel, a U.S. e-commerce website that sells cannabis accessories and CBD products. Under terms of the deal, High Tide will pay $2 million in cash and $6 millio…
Aurora Cannabis raising $125 million with eye on reducing debt
Aurora Cannabis is raising $125 million via a stock-purchase deal to finance general corporate activities, which might include “opportunistically reducing debt,” the Alberta company announced. Aurora said in a news release that it entered i…
Pyxus International divesting Canadian cannabis subsidiaries
U.S. tobacco firm Pyxus International is divesting its Canadian cannabis subsidiaries, with plans to sell off the companies and “focus on its more profitable tobacco and e-liquid businesses.” The three subsidiaries – Figr Brands, Cana…
Canadian cannabis sales slip in most provinces in November
November retail sales of recreational cannabis products across Canada fell to 261 million Canadian dollars ($205 million), 3.2% lower than in October, according to the latest data from Statistics Canada. November’s sales represent the broadest fall sin…
Latest Canadian cannabis recalls include melting vape pens, moldy bud
Canadian cannabis products recalled in January include defective all-in-one vape pens from Hexo Corp. as well as moldy marijuana from Saskatchewan processor AgroGreens Natural Products and mislabeled bud from Manitoba’s Delta 9 Bio-Tech. HexoR…
Cannabis MSO Verano announces $100M subscription receipt financing
Multistate cannabis operator Verano Holdings raised $100 million in subscription receipt financing in connection with a reverse-takeover deal that will see the company go public on the Canadian Securities Exchange. The Chicago-based firm, which current…
Cannabis firm CannTrust reaches agreement to settle shareholder claims
Embattled Canadian cannabis producer CannTrust Holdings on Wednesday announced a restructuring support agreement that will pave the way for the company to settle shareholder lawsuits as it restructures. Under the agreement, shareholders’ litigati…
Valens ‘clears the deck,’ liquidating most cannabis oil inventory
Cannabis derivative manufacturer Valens Co. said it is liquidating most of its oil inventory, citing industry trends such as outdoor marijuana harvests and falling prices. Marijuana Business Daily has reported extensively on Canada’s glut of drie…
Canada’s ‘croptober’ surge pushes cannabis inventory over 1 million kilograms
Canadian licensed producers added a record 220,461 kilograms of marijuana to their inventories in October 2020, according to new data offering a statistical glimpse of the country’s first large-scale “croptober” – when most of the fall outd…