The Canadian Press
The Canadian Press is Canada's trusted news source and leader in providing real-time, bilingual multimedia stories across print, broadcast and digital platforms.
Tilray-Aphria deal closes, company to control biggest share of Cdn pot market
NANAIMO, B.C. – Tilray Inc. and Aphria Inc. say their merger deal has now closed after receiving approval from shareholders of both companies. Tilray shareholders voted Friday in favour of issuing stock to Aphria’s shareholders, but the Nanaimo, B.C.-based company…
High Tide buying 80 per cent stake in U.S. CBD company FABCBD for US$20.64M
CALGARY – Cannabis company High Tide Inc. has signed a deal to buy an 80 per cent stake in U.S. company Fab Nutrition LLC, which is focused on hemp-derived CBD products. The Calgary-based company says it will pay US$20.64 million…
Farm-gate cannabis sales allow customers to buy pot straight from the farm
TORONTO – When customers roll up to Thrive Cannabis’ 184-acre farm in Simcoe. Ont, they’ll find three shipping containers fashioned into a pot shop and a colourful crew making history. That crew is led by Thrive’s vice president of business…
Vote by Tilray shareholders on Aphria merger deal delayed until April 30
NANAIMO, B.C. – A vote by Tilray Inc. shareholders on the cannabis company’s deal to merge with Aphria Inc. has been delayed, allowing shareholders more time. The vote had been scheduled for today, but shareholders will now vote on April…
Legal challenge seeks to overturn Quebec ban on cannabis T-shirts, other products
MONTREAL – Quebec’s ban on the sale of cannabis-themed products is too broad and inhibits legitimate freedom of expression, the lawyer for a head shop challenging the law argued Thursday. Michael Chevalier told a Quebec Superior Court judge that the…
Cannabis company Aphria reports Q3 loss, says COVID-19 lockdowns have caused pressure
Lockdowns enacted by Canadian provinces to quell the spread of COVID-19 hampered Aphria Inc.’s third quarter. The Leamington, Ont.-based cannabis company said Monday that the strict measures applied because of spiking virus cases contributed to a loss in its latest…
Canopy Growth signs deal worth $435 million to buy Supreme Cannabis
TORONTO – Canopy Growth Corp. continued its recent acquisition spree and preparation for the U.S.’s potential legalization of pot with a $435-million deal to buy the Supreme Cannabis Co. Inc. on Thursday. Smiths Falls, Ont.-based Canopy said the acquisition will…
Proxy advisory firms: Aphria shareholders should vote in favour of Tilray deal
LEAMINGTON, Ont. – Two independent proxy advisory firms are recommending Aphria Inc. shareholders vote in favour of the cannabis company merging with Tilray Inc. Institutional Shareholder Services Inc. and Glass Lewis and Co., LLC said Monday that they support the…
Canopy Growth acquires Ace Valley cannabis in bid to grow brand loyalty
Canopy Growth Corp. has purchased AV Cannabis Inc. in a bid to build more brand loyalty with customers. The Smiths Falls, Ont.-based cannabis company said Thursday that it has acquired Ace Valley, a Toronto company that makes vapes, gummies and…
48North Cannabis lays off 20% of staff, cuts outdoor growing facility
TORONTO – 48North Cannabis Corp. will lay off about 20 per cent of its staff as it ends outdoor cultivation at an Ontario facility. The cannabis company’s CEO Charles Vennat says the layoff impacts about 26 staff and comes as…
New Brunswick pulls plug on plans to privatize cannabis sales
FREDERICTON – The New Brunswick government has decided not to privatize recreational cannabis sales. In a news release today, Premier Blaine Higgs says the province will continue with the government-run Cannabis NB model for all of the province’s cannabis sales.…
Canadian cannabis companies cheer SAFE Banking Act reintroduction in U.S. House
WASHINGTON – Canadian cannabis companies are cheering the reintroduction of the SAFE Banking Act to the U.S. House of Representatives today. The act proposes offering safe harbour to financial institutions like banks and insurance companies, who provide services to cannabis…
David Lobo named new interim CEO of OCS, will replace Thomas Haig this month
TORONTO – David Lobo has been named interim president and chief executive of Ontario’s cannabis distributor. Lobo has been with the Ontario Cannabis Store since its inception and most recently served as its chief merchandising officer. The OCS says he…
Hexo reports Q2 loss, revenue nearly doubled compared with year ago
OTTAWA – Hexo Corp. reported a loss of $20.8 million in its latest quarter as its revenue nearly doubled compared with a year earlier. The cannabis company says its loss amounted to 17 cents per diluted share for the quarter…
Cannabis company Organigram signs deal with British American Tobacco
MONCTON, N.B. – Organigram Holdings Inc. stock soared by more than 40 per cent Thursday as a subsidiary of one of the globe’s biggest tobacco companies purchased a stake in the business. Organigram’s stock jumped by $1.45 to reach $5.07…
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
