Canadian Medical Marijuana & Cannabis Industry News

Deal Watch: Hemp, infused products and devices see notable gains in M&A activity

While overall merger and acquisition investment in the North American cannabis industry has been far outpacing that of 2018, several sectors have posted notable increases so far this year.

Three sectors – hemp, infused products and extracts, and consumption devices – have seen M&A activity values at $1.42 billion this year.

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CannTrust hires adviser to explore possible sale amid cannabis scandal

A week after CannTrust Holdings fired its CEO over a scandal involving unlicensed marijuana cultivation, the Canadian producer hired a financial adviser to review “strategic alternatives,” including a possible sale of the company. CannTrust said an internal committee has retained Greenhill & Co. Canada to review how the firm could proceed, with options that include: […]

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Dixie Brands’ board loses two Auxly marijuana executives

Two top executives at the Canadian-based Auxly Cannabis Group resigned from the board of Dixie Brands, a Denver-based maker of cannabis-infused products. Hugo Alves, the president of Auxly, and Michael Lickver, senior vice president of strategy for the Vancouver, British Columbia-based cannabis company, announced their resignations Monday. No reason for their departures was given in a Dixie […]

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British tobacco giant invests CA$123 million in Canadian cannabis firm Auxly

Imperial Brands said it will invest 123 million Canadian dollars ($93.4 million) in a British Columbia cannabis company, the United Kingdom tobacco giant’s latest foray into the marijuana industry. With the investment, Imperial is taking a 19.9% stake in Auxly Cannabis Group, an international cannabis company based in Vancouver, British Columbia. The two companies also […]

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Canadian bank’s ‘unfair’ cannabis fees add to financial hurdles for lottery hopefuls

One of Canada’s top lenders is charging prospective cannabis business owners thousands of dollars for a routine review of financial documents, imposing an added cost on entrepreneurs who want to enter Ontario’s upcoming lottery for the right to open a marijuana retail store. The Bank of Montreal (BMO) is charging potential clients 3,000 Canadian dollars […]

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CannTrust chaos continues with ousting of CEO, chairman resignation

Ontario, Canada-based licensed producer CannTrust fired its chief executive, Peter Aceto, “with cause” Thursday amid an ongoing scandal involving unlicensed cannabis cultivation that has enveloped the marijuana industry in Canada for weeks. The company also demanded, and received, the resignation of its longtime chairman, Eric Paul. “The investigation into the company’s noncompliance with Health Canada regulations […]

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MJardin expands marijuana operation into Nevada

MJardin Group, a marijuana production company based in Denver and Toronto, broadened its reach with the acquisition of its first cultivation facility in Nevada. MJardin, which trades on the Canadian Securities Exchange as MJAR, announced Tuesday it closed and transferred the license of Las Vegas-based GreenMart of Nevada. More on MJardin’s move can be found in […]

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British Columbia, Quebec lead Canada’s marijuana sales higher in May

Canada’s adult-use cannabis sales jumped 14% in May on the back of new store openings in British Columbia and Ontario as well as longer store hours in Quebec – three markets that account for about three-quarters of the country’s consumers. Across the country, sales improved to 85 million Canadian dollars ($65 million) in May, up […]

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Deal Watch: Big players are behind marijuana M&A deals

Last week wasn’t the busiest for completed M&A deals in the cannabis industry, but some notable transactions were concluded – including one involving a well-established multistate operator (MSO) and another a relatively new but fast-emerging player on the scene.

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Aurora sole winner of Italian medical cannabis tender, but average price is low by most standards

Aurora Deutschland – the German subsidiary of Alberta-based Aurora Cannabis – won all three “lots” to supply Italy with a total of 400 kilograms (880 pounds) of medical marijuana over two years, the Italian government announced. But the award may come at a cost for the Canadian company: The average price it offered – 1.73 euros […]

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