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Canopy Growth reports $829.3M Q3 loss, expects to reach profitability next year
SMITHS FALLS, Ont. – After a dramatic restructuring that included the elimination of up to 1,000 workers, Canopy Growth Corp. says profitability is on the horizon. The Smiths Falls, Ont.-based business behind the Tweed, Houseplant and Tokyo Smoke brands announced…
Jamaica faces marijuana shortage as farmers struggle
KINGSTON, Jamaica – Jamaica is running low on ganja. Heavy rains followed by an extended drought, an increase in local consumption and a drop in the number of marijuana farmers have caused a shortage in the island’s famed but largely…
Kansas governor: Medical pot should fund Medicaid expansion
OVERLAND PARK, Kan. – Democratic Gov. Laura Kelly proposed Monday that Kansas should legalize marijuana for medical purposes and use the revenues to expand Medicaid health care for low-income residents, a top priority that the GOP-controlled Legislature has blocked over…
Two more pot stores approved for downtown Vernon
Downtown Vernon is slated to have two more pot shops. In a close vote at today's council meeting, Jan. 25, Vernon councillors' voted to approve two more recreational cannabis stores for the downtown core. Once the two stores open up,…
CannTrust to create $50M trust to settle lawsuits, signs restructuring agreement
VAUGHAN, Ont. – CannTrust Holdings Inc. says it will create a $50-million trust to settle claims from class action lawsuits filed after the company was found growing cannabis in unlicensed rooms two years ago. The Vaughan, Ont. business says the…
Aurora Cannabis lays off workers after signing new sales broker deal
EDMONTON – Aurora Cannabis Inc. says it has laid off some workers after signing an agreement with an external sales broker. The Edmonton-based cannabis company’s spokeswoman Michelle Lefler confirmed the cuts but wouldn’t disclose the number of staff impacted or…
UFC won’t punish fighters for marijuana use in policy change
The UFC will no longer punish fighters for using marijuana in most cases, making a major change to its anti-doping policy. The world’s largest mixed martial arts promotion confirmed Thursday that it will no longer worry about positive tests for…
NB Liquor and Cannabis NB report third quarter sales increases and profits
FREDERICTON – NB Liquor and Cannabis NB are both reporting third quarter revenue increases. The two Crown corporations released their third quarter figures Wednesday for the period ending Dec. 27, 2020. NB Liquor says total sales for the 13-week period…
Surveys suggest half of cannabis users have increased habit amid COVID-19 pandemic
TORONTO – New data suggests half of cannabis users have increased their habit amid the pandemic, putting them at increased risk of addiction and other health problems. It’s prompting experts at the Centre for Addiction and Mental Health to urge…
TSX moves near all-time high as cannabis and renewables get lift from U.S. blue wave
TORONTO – Canada’s main stock index moved to within reach of a record high as cannabis and renewable energy stocks got a lift from Democrats winning control of the U.S. Senate and crude oil closed above US$50 a barrel. The…
Kelowna gets research and development facility dedicated to advancing cannabis cultivation
Kelowna is now home to North America’s first research and development facility dedicated to advancing cannabis cultivation techniques and systems. The Flowr Corporation and Hawthorne Canada Limited announced the R&D centre’s opening on Flowr’s cultivation campus in Kelowna today, Jan.…
Aurora hit by ‘cybersecurity incident’ on Christmas, doesn’t say what data affected
EDMONTON – Aurora Cannabis Inc. says it experienced a “cybersecurity incident” over the holidays. The Edmonton-based cannabis producer says the incident took place on Dec. 25, but did not share what data was involved or how it was accessed. Spokeswoman…
Large Surrey RCMP marijuana drug bust leads to confiscation of cannabis-infused potato chips
Mounties have arrested four people in a huge drug bust largely involving cannabis, including for the time — pot-infused potato chips. The Surrey RCMP Drug Unit began an investigation in September and in December, got a search warrant to enter a…
President of NB Liquor and Cannabis NB resigns and returns to private sector
FREDERICTON – The president of NB Liquor and Cannabis NB has resigned after 16 months on the job. The Crown corporation said in a news release that Patrick Parent has decided to return to the private secor in a CEO…
Canopy Growth signs deal valued at $297M to give up stake in Canopy Rivers
SMITHS FALLS, Ont. – Canopy Growth Corp. has signed a deal valued at $297 million that will see it give up its ownership in Canopy Rivers Inc., which it established as a venture capital firm to invest in the cannabis…