The Canadian Press
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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…
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…
Legal pot gains market share in Ontario, but progress will slip next quarter: OCS
TORONTO – Ontario’s legal cannabis industry is gaining ground in its fight against the illicit market, but the progress likely won’t last long because of COVID-19 lockdowns. The Ontario Cannabis Store said Thursday that between the start of July and…
Aphria and Tilray to merge, will use Tilray name and explore U.S. market
In the latest sign of the cannabis industry’s efforts to streamline its operations and take advantage of what they hope will be a promising U.S. market, two of Canada’s most prominent pot companies said Wednesday that they plan to merge.…
Canopy Growth to close five facilities across Canada, lay off 220 workers
TORONTO – Canopy Growth Corp. will cease operations at five facilities across the country and lay off more than 200 workers — the latest in a series of dramatic cuts the cannabis company and several others have made this year.…