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Canopy Growth laying off 75 staff in North America, mostly in Smith Falls, Ont.
SMITHS FALLS, Ont. – Canopy Growth Corp. says it is laying off 75 staff in North America following a global strategic review. A spokesman for the cannabis firm based in Smiths Falls, Ont., said most of the people affected work…
Canopy Growth launches first CBD drinks in U.S. as legalization talk intensifies
Canopy Growth Corp. will deepen its U.S. presence by launching four sparkling cannabidiol waters there before possible federal legalization. The Smiths Falls, Ont.-based cannabis company said four drinks from its Quatreau brand will be available online to U.S. customers Tuesday.…
Cannabis company Tilray reports US$2.9 million loss on US$56.5M revenue in Q4
Tilray Inc. managed to shave down its losses by more than $200 million in its most recent quarter, as it prepared to merge with rival Aphria Inc. later this year. The Nanaimo-based cannabis company revealed Wednesday that its fourth quarter…
Hexo to acquire Zenabis in $235-million deal, gain European pot market foothold
Hexo Corp. will acquire competitor Zenabis Global Inc. in $235-million deal that will give the cannabis company a European foothold and strengthen its domestic business. “Hexo’s growth strategy includes expanding our global presence, and this acquisition is an important step…
Aurora Cannabis ‘back on offence,’ after restructuring and $292M loss in Q2: CEO
Aurora Cannabis Inc.’s chief executive says his company is back on track for success, after spending last year fixated on a dramatic restructuring involving hundreds of layoffs and several facility closures. “Calendar 2020 was a difficult year,” admitted CEO Miguel…
More Canadians report smoking pot than in 10 peer countries: survey
A new survey has found one in four Canadian adults reported using cannabis at least once within the period of one year. The Commonwealth Fund survey compares Canada’s health systems to 10 other peer countries. An average of nine per…
S&P/TSX climbs for an eighth-straight day as interest in cannabis stocks grow
TORONTO – Canada’s main stock index continued its record-setting run for an eighth day on a rising energy sector and cannabis stocks reportedly surging from interest by retail investors. The S&P/TSX composite index closed up 49.16 points to 18,457.78 after…
Shares in cannabis company Tilray up following U.K. supply deal with Grow Pharma
NANAIMO, B.C. – Shares in cannabis company Tilray Inc. soared after the announcement of a deal with Grow Pharma to supply medical cannabis in the United Kingdom. Tilray shares were up US$11.43 at US$41.52 in late-morning trading on the Nasdaq…
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…
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…
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…
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…
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