Updated, April 13 — Canada’s No. 2 specialty coffeehouse chain has a partnership deal in place to convert some of its outlets in Western Canada to recreational cannabis shops and lounges. Second Cup on Thursday announced a “strategic alliance” with National Access Cannabis Corp. (NAC) to roll out a network of NAC-branded recreational cannabis dispensaries, […] Read more
Tag Archives cannabis — page 11
Second Cup to set up cannabis lounges in West
Canada prepares for legal pot with new license class, labels
Toronto | Reuters –– Canada’s health regulator on Monday set out thresholds for a new class of cannabis cultivation and processing licenses, and outlined strict requirements for the packaging and labeling of recreational marijuana ahead of its legalization this year. The proposals were published in a document released by Health Canada, taking into account feedback […] Read more
Pot firm Aurora’s CanniMed deal gets regulatory nod
Reuters — Canada’s No. 2 marijuana producer Aurora Cannabis on Wednesday received final regulatory approval for the purchase of smaller rival CanniMed Therapeutics, which would make it the world’s most valuable weed producer. The approval of the $1.1 billion deal from the Competition Bureau follows months of tensions between the companies and comes at a […] Read more
Recreational marijuana sales in Canada face fresh delays
Ottawa | Reuters — The sale of legalized recreational marijuana in Canada, which has already been pushed back once beyond the planned July start date, is set to be delayed even further, government officials said Thursday. The ruling Liberals are sparring with the upper Senate chamber, where a draft law is currently under review. Critics […] Read more
Weed firms again urged to disclose U.S. risks
Toronto | Reuters — Canadian regulators on Thursday reiterated their call for listed cannabis producers with U.S. businesses to clearly disclose risks of operating there, and warned of potential punishment if U.S. federal anti-marijuana laws are more strictly enforced. The Canadian Securities Administrators (CSA) staff notice said stricter U.S. enforcement could result in “material consequences […] Read more
Ontario pot firm Aphria selling U.S. stake
Reuters — Ontario marijuana company Aphria said on Friday it agreed to sell its minority stake in U.S.-based Copperstate Farms to Liberty Health Sciences for $20 million. Boards of Aphria and Liberty have unanimously approved the deal, which is expected to close in the second quarter. Aphria has been looking to hive off its business […] Read more
Cannabis firm Aphria mulls sale of U.S. unit
Reuters — Canadian cannabis company Aphria said Thursday it was exploring “strategic alternatives,” including a sale, for its U.S. business, amid tightening enforcement of federal cannabis laws in the country. Earlier this year, the U.S. Department of Justice revoked an Obama administration policy that discouraged federal prosecutors from pursuing marijuana-related crimes in states that had […] Read more
Ontario medical marijuana producers plan major merger
A southwestern Ontario greenhouse firm billed as one of Canada’s lowest-cost medical marijuana producers plans to expand its reach by buying a rival firm sourcing cannabis worldwide for processing. Aphria Inc., based at Leamington, Ont., announced Monday it has locked in a cash-and-stock deal to buy Toronto-based Nuuvera Inc. for $826 million. The deal, expcted […] Read more
Canadians spent $5.7 billion on cannabis in 2017
Ottawa | Reuters — Canadians spent an estimated $5.7 billion on cannabis in 2017, Statistics Canada said on Thursday, with the country on track to legalize recreational use of the drug nationwide later this year. About 4.9 million Canadians between the ages of 15 to 64 purchased both medical and non-medical cannabis last year, the […] Read more
Aurora, CanniMed to form Canadian weed giant
Two major players in the Canadian medical marijuana market are set to create one of the world’s biggest pot production firms in a friendly $1.1 billion cash-and-stock deal. Edmonton-based Aurora Cannabis announced an agreement Wednesday in which it will ante up on its previous hostile bid for CanniMed Therapeutics and buy all the shares of […] Read more
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