Cannabis NB, the government-owned marijuana retail monopoly in the Atlantic Canadian province of New Brunswick, has posted a third consecutive positive quarter with profits of 3.3 million Canadian dollars ($2.5 million). Meanwhile, a delayed government…
International Marijuana Business News
Aurora Cannabis execs saw raises, bonuses despite multibillion-dollar loss
Top Aurora Cannabis executives were rewarded with millions of dollars in bonuses and raises for the fiscal year ended June 30, the company disclosed, despite mass layoffs and a loss exceeding 3 billion Canadian dollars ($2.3 billion). The Alberta-based…
Spain still won’t allow local cannabis market, even as exports are occurring
Spain has several medical cannabis licensed producers, of which at least one already exports flower to countries such as Germany. But these products remain unavailable to Spanish patients, and a recent government reply to a member of parliament indicat…
Ontario government cannabis prices beating illicit market, report says
Ontario’s government-operated Ontario Cannabis Store (OCS) claims it is undercutting illicit marijuana prices with an average price of 7.05 Canadian dollars ($5.30) per gram of dried flower, taxes included, during its first fiscal quarter. In com…
New CBD product available under prescription in Peru
A new medical cannabis product is available in Peru, in the latest sign the market is moving in the right direction. Toronto-headquartered Khiron Life Sciences, a company with its main operations in Colombia, announced last Thursday that it became the …
Ontario cuts into cannabis store shortage by doubling authorizations
Ontario’s cannabis store regulator has started issuing 10 Retail Store Authorizations (RSA) per week, double the previous pace of five new stores weekly. The Alcohol and Gaming Commission of Ontario said in a notice on its website that “…
Change afoot at Ontario Cannabis Store with new CEO, board members
The Ontario Cannabis Store has its second interim chief executive in the space of one year, after the province’s exclusive cannabis wholesaler announced the sudden departure of CEO Cal Bricker on Monday. Bricker held one of the most important job…
Aurora Cannabis, billionaire Nelson Peltz ‘have concluded their relationship’
Aurora Cannabis and billionaire investor Nelson Peltz “have concluded their relationship,” a spokeswoman for the Alberta, Canada-based company confirmed to Marijuana Business Daily. Peltz’s resignation was announced in a news release Monday along…
Mistakes by Canada’s largest cannabis companies offer insight into global expansion
If there is a lesson to be learned from the overseas misadventures of Canada’s large cannabis producers in recent years, it is this: Being first to a market is a waste of time and money if that market is still years (or decades) away from producing mat…
Whole Foods CEO John Mackey to keynote MJBizCon 2020
John Mackey, co-founder and CEO of Whole Foods Market as well as the co-author of “Conscious Capitalism: Liberating the Heroic Spirit of Business,” will serve as the keynote speaker for MJBizCon 2020 in Las Vegas in December. Mackey also co…