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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…
Canopy Growth CEO ‘really bullish’ on U.S. pot legalization after recent reforms
Canopy Growth Corp. is continuing to pin its hopes on the U.S. as competition in Canada’s cannabis industry intensifies amid a wave of mergers and acquisitions. The Smiths Falls, Ont.-based cannabis company said Tuesday that it remains focused on advancing…
Quebec cannabis corporation names interim CEO as Bergeron heads to Loto-Québec
MONTREAL – The Quebec cannabis corporation has appointed Paul Furfaro interim president and CEO, replacing Jean-François Bergeron, who has departed to head Loto-Québec. Furfaro joined the corporation, known as the SQDC, about three years ago and became director of branch…
Hexo to buy Redecan for $925 million as hunt for more cannabis market share continues
Hexo Corp. has announced a deal to buy cannabis producer Redecan for $925 million as the pot company continues its hunt for market share. Ottawa-based Hexo said Friday that it has agreed to pay $400 million in cash and $525…
Aurora Cannabis moves to Nasdaq from NYSE in cost cutting effort
EDMONTON – Aurora Cannabis Inc. says it has moved its stock exchange listing to the Nasdaq Global Select Market from the New York Stock Exchange today. The Edmonton-based cannabis company says transferring the listing to the Nasdaq is part of…
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