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(CNW Group/Sugarleaf photo)
Crops, Reuters

Canopy Growth to buy rival Supreme Cannabis

Deal comes as pot demand lights up

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Reuters — Canopy Growth Corp. said Thursday it will buy rival Supreme Cannabis for $323.3 million, as the world’s biggest cannabis producer bolsters its portfolio to tap surging demand. Shares of Canopy, up 15 per cent this year, fell around 4.6 per cent to $36 after it announced the cash-and-stock deal for Supreme, which owns […] Read more
(Solidcolours/iStock/Getty Images)
Crops, Reuters

BAT looks beyond tobacco to Canadian marijuana

Lucky Strike cigarette maker buys into Moncton's Organigram

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Reuters — British American Tobacco (BAT) said Thursday it will buy a nearly 20 per cent stake in New Brunswick-based cannabis producer Organigram for about 126 million pounds (C$221.3 million) as it seeks to expand beyond its main tobacco business. Organigram, headquartered at Moncton, grows cannabis and makes cannabis-derived products in the Canadian market, where […] Read more
(Fudio/iStock/Getty Images)
Crops, Reuters

Canada weighs tighter rules for grow-your-own pot producers

Spending on illicit pot still ahead of legal purchases

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Reuters — Canada on Monday launched a public consultation seeking to tighten rules for individuals who are allowed to grow their own medical cannabis, in an effort to clamp down on pot seeping into black markets. In a draft guidance issued for the consultation, Health Canada highlighted recent police raids and arrests at production sites […] Read more
(Juanmonino/iStock/Getty Images)
Crops, Markets, Reuters

Cash-strapped pot producers raise billions in market rally

Cannabis firms seen as down in the weeds until recent surge

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Reuters — A political shift in the United States has unlocked an estimated US$1.38 billion jackpot for struggling pot producers who have cashed in on a surge in their shares since President Joe Biden’s election in November. Cannabis producers have issued stock worth this amount in the first five weeks of 2021, investment firm Viridian […] Read more
Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)
Crops, Reuters

Canopy Growth to move U.S. listing to Nasdaq

Canadian cannabis company minding expenses

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Reuters — Canadian pot producer Canopy Growth said on Tuesday it would move its U.S. stock listing to the Nasdaq, following rival Aphria in favouring the exchange’s “cost-effectiveness.” Canopy’s U.S. shares, currently listed on the New York Stock Exchange, rose over four per cent in extended trading. Years of high expenses and a lack of […] Read more
(Creative-Family/iStock/Getty Images)
Crops, Markets, Reuters

Cannabis-infused drinks fizzle on production, distribution challenges

'Actually executing the idea is much more difficult'

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Reuters — Investors pinning hopes on cannabis-infused drinks to propel growth of the legal marijuana industry may have to wait a bit longer, as companies struggle to produce and distribute the highly-sought beverages in a profitable way. Nearly 11 months after regulators allowed their sales, very few brands have been able to reach shelves. Canada […] Read more
Plants at Delta 9 Cannabis’ indoor production facility in Winnipeg. (Dave Bedard photo)
Crops, Markets, Reuters

Cannabis industry readies for M+A after COVID-19 boosts weed demand

Companies betting on U.S. market growth after election

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Reuters — After nearly a year of next-to-no dealmaking, cannabis companies are gearing up for mergers and acquisitions (M+A) as realistic stock valuations and the prospect of U.S. legalization attract buyers to a sector that has been decimated by oversupply and other issues, executives and investors say. Profitable cannabis companies want to buy their way […] Read more
(CanopyGrowth.com)
Crops, Reuters

Canopy Growth may face challenges offloading assets, CEO says

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Reuters — Canada’s biggest cannabis producer, Canopy Growth Corp., could face challenges offloading assets as it seeks to winnow its facilities down to focus on its most lucrative markets and products, its CEO told Reuters. The company, which reported a smaller-than-expected third-quarter loss on Friday, is conducting a “thorough strategic review” of its production facilities […] Read more
(Juanmonino/iStock/Getty Images)
Crops, Markets, Reuters

As ‘Cannabis 2.0’ kicks off, industry strangled by limited retail outlets

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Reuters — A year after Canada legalized use of recreational marijuana, cannabis stocks have lost half their market value, and investors betting that the launch of higher-margin pot-infused drinks and other products will quickly lift shares may be in for a bumpy ride. So-called cannabis 2.0 — legalization of marijuana derivatives including edibles, beverages, extracts […] Read more

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