Reuters — Marlboro cigarette maker Altria Group announced a $2.4 billion investment in Cronos Group on Friday, which could give it up to 55 per cent ownership of the Canadian cannabis producer. The deal represents by far the biggest investment by a major tobacco conglomerate in a cannabis company. It comes after Canada legalized the […] Read more
Tag Archives cannabis — page 9
Altria to marry Canadian pot with big tobacco
Pot firm Canopy’s loss widens as spending surges
Reuters — Canadian cannabis producer Canopy Growth posted a bigger-than-expected quarterly net loss on Wednesday as it ramped up spending in the run up to the legalization of recreational use of pot in mid-October, sending its shares down nine per cent. Marijuana companies in Canada have been pouring cash into their businesses to both fend […] 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
Cannabis’ cousin hemp entering new age too
CNS Canada — As cannabis basks in the glow of the first day of its legalized recreational sale, its close cousin hemp is coming through its own year of change. Ted Haney, executive director of the Canadian Hemp Trade Alliance, said hemp growers are going through a year in which they are learning how to […] Read more
New markets for hemp emerge with cannabis legalization
New hemp derivatives will be able to be sold, which could make it more attractive in Ontario
Industrial hemp growers may encounter a growing market as the Canadian government moves towards cannabis legalization. Part of the new federal cannabis legislation involves updating industrial hemp regulations to allow growers to harvest the flowering heads, branches and leaves of the crop for immediate sale to licensed cannabis processors — thereby making use of its […] Read more
Altria reported seeking stake in cannabis firm Aphria
Reuters — Marlboro maker Altria Group is in talks for a stake in Canadian cannabis producer Aphria Inc., the Globe and Mail reported on Wednesday, citing multiple sources. The details of Richmond, Virginia-based Altria’s investment are still being finalized, though it has expressed interest in buying a minority stake in Aphria with the intention of […] Read more
Regulator finds cannabis company disclosures inadequate
Toronto | Reuters — A Canadian regulatory group said on Wednesday that it had found that the level and quality of disclosure by cannabis companies was insufficient. The Canadian Securities Administrators (CSA), which conducted a review of disclosure practices of 70 Canadian and U.S. cannabis producers, said some companies were inconsistent in complying with Canadian […] Read more
Walmart Canada exploring possible sale of cannabis-based products
Reuters — Walmart’s Canadian unit said Tuesday it is exploring the possibility of selling cannabis-based products, but has no immediate plans to get into the business. Walmart is the first major retailer to show an interest in being a part of Canada’s burgeoning marijuana industry, as other big U.S. companies, mainly in the alcohol and […] Read more
Vegetable seedling grower, cannabis grower to merge
A B.C. company that raises seedlings for greenhouse vegetable growers is set to devote its existing square footage to weed, following a takeover by a B.C. cannabis grower and processor. Langley-based, publicly-traded Bevo Agro on Thursday announced a reverse takeover deal with Surrey-based, privately-held cannabis firm Sun Pharm Investments, which will see Sun Pharm shareholders […] Read more
Cyber-Savvy Farmer
