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Tag Archives marijuana

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
Crops

Canadian cannabis retailers poised to merge

High Tide, Meta Growth to create biggest weed retailer

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Two major Canadian cannabis sellers are poised to create the largest pot retailer in the country by revenue. Calgary retailer High Tide Inc., which operates the Canna Cabana chain of stores in three provinces, announced a merger deal Friday to take up Toronto-based Meta Growth Corp., which runs the Meta Cannabis and NewLeaf Cannabis chains. […] Read more
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
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

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