Canadian Medical Marijuana & Cannabis Industry News

Cresco Labs to sell marijuana facilities to REIT for $46.3M under leaseback deal

Chicago-based Cresco Labs will sell two cultivation and processing facilities in Illinois to Innovative Industrial Properties, a real estate investment trust company (REIT), for $46.3 million as the multistate operator prepares for a “significant increase in demand” when recreational marijuana sales become legal in the state Jan. 1. The facilities, which will continue to be […]

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A new way to commercialize cannabis in Canada: Q&A with Mark Spear of Wildfire Collective

Wildfire Collective is spearheading Canada’s first exclusively outdoor, multisite craft cannabis operation focusing on high terpene, full spectrum extracts. “This really is something that’s going to help differentiate us when margin compression comes in the near future,” said Mark Spear, founder and CEO of the Ottawa-area company. Unlike many  publicly traded cannabis companies in Canada, Wildfire […]

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Auxly Cannabis closes CA$123 million investment from tobacco giant Imperial Brands

Auxly Cannabis finalized an investment from Imperial Brands worth 123 million Canadian dollars ($92 million), one of the largest investments yet from a tobacco company in the marijuana industry. The British multinational tobacco company picks up a 19.9% stake in British Columbia-based Auxly as part of the deal. In return, Auxly gets licenses for Imperial’s […]

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Canada ‘falling woefully short’ of displacing illicit cannabis market, researcher says

Canada’s regulated cannabis sales accounted for only 14% of total demand by volume in June, according to a new analysis by market researcher TheCannalysts. That’s counter to some estimates that the regulated market “wiped out half the black market” in the first year of legalization, as claimed by the former principal secretary to Prime Minister […]

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Auxly Cannabis Group partner Sunens closes CA$84M credit facilities with Bank of Montreal

Sunens Farms, a federal cannabis applicant in Leamington, Ontario, closed a nonconvertible debt deal underwritten by the Bank of Montreal (BMO). The 84 million Canadian dollar ($63 million) deal consists of a three-year debt facility for CA$71.5 million and a CA$12.5 million leasing facility. Proceeds will finance equipment and the first phase of the company’s CA$150 million […]

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Proposed overhaul of Australia’s medical cannabis framework ‘far too slow,’ industry officials say

Executives welcomed recommendations to improve the framework governing Australia’s medical cannabis scheme as a potential breakthrough, but some said the expected implementation of the proposals is “far too slow” for a sector in need of regulatory improvement today. The recommendations – made in a government-commissioned report authored by John McMillan, law professor at Australian National University in […]

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200 cannabis stores approved by Calgary, more than BC, Ontario & Quebec combined

The number of city-approved cannabis stores in Calgary surpassed 200 this week, while the province has licensed 63 of those to open their doors to customers. The city’s store approvals exceed Ontario, British Columbia and Quebec combined, the three most-populous provinces in the country. Experts say Calgary should be seen as an example for other […]

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Securities regulator accuses former Canadian Cannabis Corp directors of fraud

Former directors and officers of a Toronto-based cannabis company have been accused by Ontario’s securities regulator of defrauding investors. Canadian Cannabis Corp said Tuesday it received a Statement of Allegations from the Ontario Securities Commission (OCS). According to a report by BNN Bloomberg, the OCS accused the company’s former chief executive and two vice presidents […]

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Reports: Former cannabis heavyweight Tikun Olam to sell Israeli assets for $42 million

Tikun Olam, once one of the world’s leading medical cannabis companies, is selling its domestic assets for $42 million – or about half of its asking price of $100 million – according to Israeli media reports. Cannbit Pharmaceuticals has reportedly agreed to buy Tikun Olam’s operations in Israel. Rivals Bazelet Group and InterCure were also […]

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