The Canadian Press
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‘Not where we want to be’: Canopy Growth CEO says market share softened in Q1
Canopy Growth Corp.’s chief executive says the company’s hold on the cannabis market has been threatened in the last few months, even as it went on an acquisition spree and tried to overhaul its business. “Our market share softened and…
Tilray reports US$33.6M profit in Q4 as it merged with cannabis rival Aphria
Tilray Inc.’s share price surged 25 per cent Wednesday as investors rewarded the the cannabis company for a strong outlook and fundamentals. Tilray’s chief executive pointed to COVID-19 lockdowns for more than $100 million in revenue losses Wednesday, but the…
Seth Rogen’s cannabis company Houseplant and Canopy Growth announce partnership end
Actor Seth Rogen’s Houseplant cannabis company and Canopy Growth Corp. are breaking up. The pot businesses say in a release Wednesday that they have mutually agreed to end their relationship because the Canadian market has evolved substantially since the two…
Cointreau maker sues Canopy Growth over Quatreau drinks with similar-sounding name
SMITHS FALLS, Ont. – Cointreau Corp. is suing Canopy Growth Corp. for trademark violations over the cannabis producer’s Quatreau line of sparking cannabidiol beverages. Cointreau, which is pronounced KWAN’troh, said in a complaint and jury demand filed in a New…
CannTrust reorganization plan approved by Ontario court; several conditions remain
VAUGHAN, Ont. – CannTrust Holdings Inc. says its reorganization plan has been approved by the Ontario Superior Court of Justice. The insolvent cannabis company said the restructuring under the Companies’ Creditors Arrangement Act remains subject to conditions, including U.S. court…
Organigram sees Q3 fortunes improve, posts $4M loss
MONCTON, N.B. – Organigram Holdings Inc. reported a loss of $4 million in its latest quarter compared with a loss of $89.9 million in the same quarter a year earlier. The cannabis producer says the loss amounted to 1.4 cents…
Rapid growth of Ontario cannabis stores will likely result in some closures: OCS
TORONTO – The head of the Ontario Cannabis Store is warning that the soaring number of pot shops in the province will likely result in so much competition that some will close. David Lobo, the interim president and chief executive…
Cheaper, more potent cannabis found in B.C. government-run stores: study
VANCOUVER – The price of cannabis at government-run stores in British Columbia declined while potency rose between 2019 and 2020, says a new report that has a researcher raising questions about what its findings mean for public health. The study…
Former CannTrust executives face securities charges after unlicenced cannabis growing
The former chief executive and two past board members of CannTrust Holdings Inc. are facing charges roughly three years after the cannabis company became embroiled in unlicensed growing allegations. The Ontario Securities Commission and Royal Canadian Mounted Police said Tuesday…
‘Joints for Jabs:’ Company offering cannabis prizes to fully vaccinated Manitobans
WINNIPEG – A Winnipeg-based cannabis producer and retailer is hoping to increase COVID-19 vaccination uptake with a chance to win free joints. Delta 9’s “Joints for Jabs” program is giving away three grand prizes of a one-year supply of cannabis…
Australian pot company Little Green Pharma buys Canopy Growth facility in Denmark
SMITHS FALLS, Ont. – An Australian cannabis company says it has purchased a Canopy Growth Corp. property in Europe. Perth-based Little Green Pharma Ltd. says it has acquired a medicinal cannabis cultivation and manufacturing facility in Denmark from the Smiths…
Cannabis company Hexo reports $20.7M Q3 loss, revenue edges higher
OTTAWA – Hexo Corp. reported a loss of $20.7 million in its latest quarter compared with a loss of $19.5 million in the same quarter last year. The cannabis company says the loss amounted to 17 cents per diluted share…
Canadian producers hoping U.S. eases cannabis prohibitions nervously eyeing calendar
WASHINGTON – Canada’s cannabis industry, banking on the chance to expand into the United States, is nervously eyeing the American political calendar and the Biden administration’s narrow legislative window to ease federal prohibitions on recreational marijuana. The White House has…
Supreme Cannabis shareholders vote to approve $435M deal with Canopy Growth
TORONTO – Supreme Cannabis shareholders have voted in favour of the company being sold to Canopy Growth Corp. for $435 million. Supreme says 81.05 per cent of the votes cast were in favour of the deal. The sale needed at…
Rapper Drake and cannabis company Canopy Growth end pot partnership
SMITHS FALLS, Ont. – Canopy Growth Corp. is no longer involved in a cannabis venture it was pursuing with rapper Drake. The Smiths Falls, Ont., cannabis company says in an email that it has divested its participation in Drake’s More…