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Tag Archives cannabis

Crops, Reuters

Constellation tightens grip on Canopy with CEO appointment

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Reuters — Constellation Brands finance head David Klein will take over in January as CEO of pot producer Canopy Growth Corp., hardening up the Corona beer maker’s control of a company into which it has sunk US$4 billion. Klein was appointed Canopy chairman in October after Constellation booked a $430 million net loss related to […] Read more
Crops, Reuters

Pot producer Canopy Growth to stop expanding in Canada

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Reuters — Canopy Growth Corp. on Thursday reported a wider-than-expected quarterly loss on soaring expenses and said it would not make any large investments to expand in Canada amid surplus supply and tepid demand for weed and weed products. The decision to hold expansion plans follows a wave of enthusiastic spending by marijuana companies to […] Read more
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
Crops, Reuters

Pot producer CannTrust to destroy $77M in plants, inventory

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Reuters — Canadian cannabis producer CannTrust Holdings said Monday it would destroy about $12 million worth of plants and about $65 million worth of inventory as part of a plan to regain full regulatory compliance. Health Canada canceled CannTrust’s license to produce and sell cannabis in September, months after it found the company was illegally […] Read more
Crops, Reuters

Vape product concerns weigh on cannabis companies

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Toronto | Reuters — A U.S. recommendation that consumers avoid vaping products containing the active ingredient in marijuana ahead of their legalization in Canada next month could be a blow to Canadian cannabis companies’ hopes that the higher-margin products will help propel them to profitability. The U.S. Centers for Disease Control and Prevention (CDC) said […] Read more
Crops, Reuters

Pot producer CannTrust’s federal license suspended

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Reuters — Troubled Canadian pot grower CannTrust Holdings said Tuesday its license to produce and sell cannabis has been suspended by Health Canada. CannTrust had delayed its second-quarter results last month awaiting a decision from Canada’s health regulator on a large amount of inventory put on hold after discovery of illegal cultivation by the company. […] Read more
Crops, Reuters

Cannabis firm Tilray sees growth slowing

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Reuters — Pot producer Tilray Inc. reported a wider-than-expected quarterly loss on Tuesday, as it ramped up investments to boost production and warned of muted growth in the Canadian recreational marijuana market for the second half of the year. Shares of the Nanaimo, B.C.-based company fell eight per cent after hours. Canada in October became […] Read more
Crops

Couche-Tard takes stake in cannabis retailer

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One of Canada’s biggest convenience store operators is moving ahead on its stated goal of getting into the retail cannabis business. Edmonton-based cannabis retailer Fire + Flower announced Wednesday it has issued a $25.99 million debenture, convertible to a 9.9 per cent ownership stake, to Quebec’s Alimentation Couche-Tard. The Laval-based firm said its planned investment […] Read more

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AGCanadaTV: In Case You Missed It – Your National Ag News Recap for the week ending December 13, 2019.

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