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Tag Archives marijuana

Crops, Markets

Aurora Cannabis to shut five Canadian grows

Closures mean layoffs for 30 per cent of firm's production staff

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Edmonton marijuana producer Aurora Cannabis is poised to close five of its grow sites across Canada and lay off almost a third of its production workforce. The company on Tuesday announced next steps in the “business transformation plan” it launched in February to “better align the business financially with the current realities of the cannabis […] Read more
Crops

Canopy Growth to close Saskatchewan pot plant

Ontario company stepping out of other international plays

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A major indoor cannabis grow site at Yorkton, Sask. is the latest casualty as pot producer/retailer Canopy Growth adjusts its worldwide footprint. Smiths Falls, Ont.-based Canopy Growth, whose cannabis brands include Tweed, Tokyo Smoke, Van der Pop and Spectrum Therapeutics, announced Thursday it will shut down its Tweed Grasslands production facility at Yorkton to “further […] Read more
Crops, Reuters

Ontario drops weed from essentials list

Officials call for further intervention

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Reuters — Ontario’s government on Friday removed cannabis from a list of essential businesses allowed to operate during the lockdown, as part of its efforts to further restrict contact amid a deepening coronavirus crisis. The move comes after health officials projected 80,000 COVID-19 coronavirus cases and about 1,600 deaths by month end under current policies, […] Read more
Crops, Markets, Reuters

More pain in store for Canadian marijuana companies

Aurora Cannabis, Tilray cut jobs

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Toronto | Reuters — Investors are bracing for more job cuts and writedowns at Canadian cannabis producers before the industry stabilizes and becomes profitable, after two of the biggest weed companies, Aurora Cannabis and Tilray announced cost reductions this week. Canada legalized recreational cannabis in October 2018 but profits have proven elusive for most marijuana […] Read more
Crops, Reuters

Cannabis patients boost Aurora edible sales

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Toronto | Reuters — Aurora Cannabis this week became the first major Canadian company to sell edibles and vapes for medical use, a small base that nevertheless helps shore up margins and paves the way for sales in the much larger European medical market. Medical marijuana has been legal in Canada since 2001, and recreational […] 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

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