Canadian Medical Marijuana & Cannabis Industry News

Cannabis firm Valens beats expectations with CA$8.8 million quarterly revenue

Valens GroWorks’ revenue shot up nearly threefold to 8.8 million Canadian dollars ($6.7 million) in the last fiscal quarter on strong demand for its white-label services ahead of Canada’s infused cannabis market launch later this year. The revenue was ahead of analyst expectations. Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) came in at […]

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Canadian marijuana firm Organigram reports improved quarterly revenues, net loss

Organigram, a Canadian cannabis producer that trades on a major U.S. exchange, reported net revenues of 24.8 million Canadian dollars ($18.6 million) for the fiscal third quarter ended May 31, up from CA$3.44 million in the same period last year. Net loss for the quarter for the New Brunswick-based company was CA$10.2 million, compared with […]

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Week in Review: CannTrust’s cannabis regulatory woes, Florida MMJ caps, push for Congress’ support of STATES Act & more

CannTrust is zapped by Health Canada for unlicensed cannabis cultivation, Florida’s medical marijuana license caps and vertical integration regulations are ruled unconstitutional, marijuana advocates urge a U.S. Congressional panel to support states-rights marijuana legislation – plus more of the week’s top marijuana business headlines. Bad week for Canadian marijuana grower Ontario company CannTrust was hit […]

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Health Canada completes 75% of promised ‘high-level reviews’ of cannabis applications

Since overhauling the federal cannabis license application process in May, Health Canada completed about three-quarters of the eligible high-level reviews in the licensing queue as of the end of June. But some industry sources say the regulatory agency is not moving fast enough. As of May 8, Health Canada started requiring new cannabis cultivation applicants […]

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Embattled CannTrust halts marijuana sales; Canada’s supply shortfall could worsen

CannTrust Holdings halted all sales of cannabis products while Canada’s federal regulator inspects its Vaughan, Ontario, manufacturing facility. The Ontario company received a “noncompliant” rating earlier this week from Health Canada for operating five unlicensed rooms. That means CannTrust’s 72,000 registered medical cannabis patients will have to look to other producers to fill their orders, likely […]

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Canadian retailer pulls CannTrust’s recreational marijuana goods from shelves

Embattled Canadian cannabis cultivator CannTrust was dealt another blow after its recreational products were yanked from the shelves of Canada’s largest marijuana retailer. Daffyd Roderick, director of communications for the Ontario Cannabis Store (OCS), the province’s online retailer and wholesale distributor, confirmed to BNN Bloomberg that CannTrust’s products weren’t available for sale. “Due to the […]

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German sales of insurance-covered medical cannabis continue upward trend

Sales of insurance-covered medical cannabis continued to increase during the first quarter of 2019 in Germany, the largest market outside North America. In the first three months of the year, sales of reimbursed cannabis products totaled 24.5 million euros ($27.5 million), an increase of 7% from the fourth quarter of 2018, according to government data. […]

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Canadian marijuana firm Sundial, California’s KushCo seek Nasdaq listings

Sundial Growers, a Canadian cannabis company, and California-based KushCo Holdings have applied to be listed on the Nasdaq. Sundial, based in Calgary, Alberta, would operate under the ticker symbol SNDL. The number of shares to be offered and the price range for the offering have not been determined. The company currently operates two facilities in its […]

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