Reuters — Canada’s biggest cannabis producer, Canopy Growth Corp., could face challenges offloading assets as it seeks to winnow its facilities down to focus on its most lucrative markets and products, its CEO told Reuters. The company, which reported a smaller-than-expected third-quarter loss on Friday, is conducting a “thorough strategic review” of its production facilities […] Read more
Canopy Growth may face challenges offloading assets, CEO says
More pain in store for Canadian marijuana companies
Aurora Cannabis, Tilray cut jobs
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
Tilray, in cost reduction mode, cuts 10 per cent of workforce
Toronto | Reuters — Tilray Inc. has cut 10 per cent of its 1,443-strong workforce as part of a global restructuring effort to reduce costs, the cannabis producer said Tuesday. “By reducing headcount and cost, Tilray will be better positioned to achieve profitability and be one of the clear winners in the cannabis industry,” the […] Read more
Cannabis patients boost Aurora edible sales
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
As ‘Cannabis 2.0’ kicks off, industry strangled by limited retail outlets
Reuters — A year after Canada legalized use of recreational marijuana, cannabis stocks have lost half their market value, and investors betting that the launch of higher-margin pot-infused drinks and other products will quickly lift shares may be in for a bumpy ride. So-called cannabis 2.0 — legalization of marijuana derivatives including edibles, beverages, extracts […] Read more
Vape product concerns weigh on cannabis companies
Toronto | Reuters — A U.S. recommendation that consumers avoid vaping products containing the active ingredient in marijuana ahead of their legalization in Canada next month could be a blow to Canadian cannabis companies’ hopes that the higher-margin products will help propel them to profitability. The U.S. Centers for Disease Control and Prevention (CDC) said […] Read more
Labatt to partner with Tilray to tap cannabis drink market
Toronto | Reuters — Anheuser-Busch InBev, the world’s largest brewer, and Canadian pot producer Tilray Inc. are partnering in a US$100 million joint venture to research cannabis-infused non-alcoholic drinks for the Canadian market, the companies said Wednesday. The alliance, the latest in a string of deals by global alcohol and tobacco giants in Canada’s cannabis […] Read more
U.S. pot firm Curaleaf to triple planned equity offering
Toronto | Reuters – U.S. cannabis retailer Curaleaf Holdings Inc is raising about $400 million, almost three times its original target, in Toronto, in a deal that would value the company at close to $4 billion, people familiar with the situation told Reuters. The move by the Wakefield, Massachusetts-based company, which also owns cannabis cultivation […] Read more
Sober start as recreational marijuana becomes legal in Canada
Toronto/Vancouver | Reuters — Canada became the first industrialized nation to legalize recreational cannabis on Wednesday, but a lawful buzz will be hard to come by in its biggest cities like Toronto and Vancouver, where stores are not yet open. The day was historic for the country as Canadian adults can now legally smoke recreational […] Read more
Big Weed hits up Europe hoping for expansion cash
Toronto/London | Reuters — A favorite of DIY stock pickers, Canadian cannabis firms are trying to bolster their institutional investor base by ramping up efforts to woo European funds as countries across the region approve marijuana for medical use. For some time companies including Canopy Growth, Aurora Cannabis and Tilray Inc. have been signing export […] Read more
Cyber-Savvy Farmer
