Canadian Medical Marijuana & Cannabis Industry News

CannTrust stock drops 30% after second facility breaches marijuana regulations

Besieged Canadian cannabis grower CannTrust was notified that a facility was recently deemed noncompliant with a host of federal cannabis regulations – the second significant breach at its facilities in just over a month. The company said it accepted Health Canada’s findings, which were delivered after markets closed Friday. Heath Canada’s July 10-16 inspection of […]

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‘Massive, unsustainable’ value gap between Canadian, US cannabis firms, analyst notes

Marijuana companies focused on the United States face “massive and unsustainable” valuation discounts relative to their Canadian counterparts, according to a new report. As of this week, companies with an operational focus on the United States are trading at about 13 times consensus estimates for their 2020 earnings before interest, taxes, depreciation and amortization (EBITDA.) […]

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Marijuana company Sol Global to rebrand with new name

Toronto-based Sol Global Investments, which is increasingly focusing on the U.S. cannabis market, is changing its name to Bluma Wellness as part of a rebranding strategy. Bluma is an ancient Hebrew word meaning to flower, bloom or blossom, according to the company. This not the first name change for the company. In 2018, the firm […]

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Auditor withdraws cannabis firm CannTrust’s financial report amid controversy

The independent auditor for Canadian marijuana company CannTrust has taken the uncommon step of withdrawing its report on the Ontario company’s financial statements for the quarter ending March and full-year 2018. It’s the latest blow amid an ongoing scandal involving unlicensed marijuana cultivation by CannTrust that has cast a dark cloud across Canada’s cannabis industry. […]

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Cronos boosts quarterly marijuana revenue, reports operational loss

Toronto-based Canadian cannabis company Cronos Group on Thursday reported second-quarter revenue of 10.24 million Canadian dollars ($7.7 million), triple the CA$3.4 million the firm declared in the same period last year. Net revenue for the first half of the year totaled CA$16.7 million – more than double the CA$6.34 million Cronos reported in the same […]

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Capital for access: The developing two-way marijuana road between California and Canada

It’s no secret that the number of business relationships between American and Canadian cannabis interests has skyrocketed since federal legalization went into effect north of the U.S. border. From a high-level perspective, it’s a simple trade: money for market access. That’s particularly true in California, which has no in-state residency requirement for cannabis companies and […]

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Canadian cannabis firm Cronos spending $300 million to enter US hemp market

Cronos Group, a vertically integrated cannabis company based in Ontario, Canada, that has international production and distribution, said Friday it will buy four operating subsidiaries from Redwood Holding Group for $300 million. Redwood, which is headquartered in Los Angeles, produces, markets and distributes hemp-derived CBD products, including skin care, bath items and gummies, throughout the […]

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Canada’s TerrAscend looks to snap up US marijuana firm Ilera for up to $225 million

TerrAscend, an Ontario, Canada-based vertically integrated cannabis company, agreed to acquire Ilera Healthcare, a Pennsylvania-based marijuana cultivator, processor and dispensary operator for up to $225 million (CA$297 million). The total cost of the transaction will depend on Ilera reaching certain revenue and profitability targets. For now, TerrAscend is set to pay $25 million in cash and […]

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Marijuana firm CannTrust faces probe by Ontario regulators, police

Cannabis cultivator CannTrust Holdings disclosed the company is under investigation by securities regulators and the police, the latest blow to hit the embattled Ontario firm. The company said in a news release that the Ontario Securities Commission (OSC) has opened an investigation “into matters and parties related to CannTrust.” The agency assigned the case to […]

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Aphria latest major Canadian cannabis company to turn a profit

Aphria on Thursday became one of the rare Canadian cannabis companies to report a net profit by posting record net revenues of 128.6 million Canadian dollars ($97.3 million) in its fiscal fourth quarter, a whopping 969% increase from a year earlier. Revenues also jumped 75% from the third quarter. As a result of the company’s […]

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Cannex, 4Front complete cannabis merger; trading starts next week

An almost $500 million merger of a Canadian and a U.S. marijuana company closed, months later than originally planned. Vancouver, British Columbia-based Cannex Capital Holdings, a cannabis company with a cultivation and manufacturing presence in Washington state, and Phoenix-based multistate retail operator 4Front Holdings, begin trading next week as 4Front Ventures Corp. Starting Tuesday, 4Front […]

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