Aurora Cannabis has laid off salespeople after tapping Great North Distributors to be its sales representative across the Canadian recreational marijuana retail environment. The company was unable to share the specific number of employees who will be d…
International Marijuana Business News
Cannabis MSO Cresco prices Canadian share offering to raise $125 million
Chicago-based multistate cannabis operator Cresco Labs priced an overnight marketed share offering, designed to raise roughly $125 million, at 16 Canadian dollars ($12.56) per share. The offering of Cresco’s Canadian subordinate voting shares was…
Ontario cannabis stores can still offer pickup, delivery during lockdown
Brick-and-mortar cannabis stores in Canada’s largest recreational marijuana market are still permitted to offer home delivery and curbside pickup during a government stay-at-home order, although their operating hours have been restricted and cons…
Aphria grows Q2 revenue, reports CA$120.6M net loss
Canadian cannabis company Aphria reported increased quarterly revenue on Thursday for the quarter ended Nov. 30, with a net loss of 120.6 million Canadian dollars ($95.3 million). The Ontario-based firm posted net revenue of CA$160.5 million, a 10% inc…
1-gram cannabis flower sales fell in 2020 amid pandemic, but don’t write off the small packet
Sales of 1-gram cannabis flower packages tumbled in multiple North American marijuana markets last year, likely related to consumers who shopped less often because of the COVID-19 pandemic but made larger purchases when visiting a dispensary. The shift…
GW Pharma expects fiscal 2020 sales to reach $526 million
United Kingdom-based GW Pharmaceuticals expects to report annual sales of approximately $526 million for the year ended Dec. 31, 2020, it said in a preview of its fourth quarter and full-year results. Fourth quarter net sales will be approximately $148…
Cannabis CEOs, led by Aphria’s Irwin Simon, are among Canada’s top-paid execs despite losses
A number of executives in the cannabis industry are among the highest-compensated CEOs in Canada, according to a new analysis of 2019 pay by the Ottawa think tank Centre for Policy Alternatives. Executive compensation in the marijuana industry has attr…
Mexico releases long-awaited medical cannabis regulations
Mexico has published highly-anticipated regulations to underpin its medical cannabis industry, more than three years after an amendment to the General Health Law allowed medical cannabis use. The long delay underscores a benefit of approaching the inte…
Organigram revenue stalls on inconsistent inventory, unfulfilled demand
New Brunswick-based cannabis producer Organigram continues to struggle, reporting lower sales and a bigger loss for its first quarter ended Nov. 30, 2020. Net revenue for the three-month period fell to 19.3 million Canadian dollars ($15 million), lower…
German entrepreneurs find revenue opportunities in private cannabis market
As public health insurance payouts for medical cannabis in Germany stagnate, entrepreneurs are focusing instead on the private health-care sector, where medical consultations and marijuana is paid for directly by patients. Although Germany is often tou…