Canadian Medical Marijuana & Cannabis Industry News

Ontario business group wants ‘clear timeline’ for cannabis store expansion

A group comprised of cannabis industry leaders and experts is calling on Ontario’s government to provide a more complete timetable for when retail stores will be permitted through an open allocation of licenses. So far, the province has used a botched lottery system to award opportunities to open recreational marijuana stores. The Ontario Cannabis Policy […]

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Marijuana company Vireo Health wagers on former Canopy co-CEO Linton to expand nationally

To help expand its national footprint, multistate marijuana company Vireo Health International has hired Bruce Linton, one of the biggest names in the cannabis industry and former leader of Canada’s Canopy Growth until his surprise firing in the summer. It’s a high-profile hire for the U.S. cannabis industry, one that many executives and investors across […]

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Tight funding environment weighs on marijuana companies still seeking profit

Which came first? Poor paths to profitability for North American cannabis companies or?limited funding?for them to build their businesses? The reality: It’s a bit of both. Funding opportunities for marijuana firms do exist, but investors are increasingly unlikely to lend if cannabis companies cannot meet their revenue and profitability targets. Therefore, cannabis businesses trying to […]

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Ontario offers no new details on cannabis retail expansion, will allow ‘click-and-collect’ sales

Ontario’s government is still not releasing key details on when it will significantly expand the number of adult-use cannabis stores, while a new analysis suggests the slow rollout of storefronts has already cost the province’s fledgling industry about 325 million Canadian dollars ($246 million) in foregone revenue. In the Economic Outlook introduced Wednesday in the […]

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Cannabis extraction firm MediPharm seeks Nasdaq listing

Barrie, Ontario-based cannabis extraction company?MediPharm Labs?has applied to list its shares on the Nasdaq amid a heightened period of volatility for marijuana stocks in North America. If approved for trading, MediPharm would join a growing list of Canadian cannabis companies turning to the top U.S. stock exchanges to tap the globe’s largest pool of institutional […]

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Shareholders sue Canadian cannabis grower Sundial

Canadian marijuana company Sundial is facing two class action lawsuits filed in the United States by shareholders over hundreds of pounds of alleged “un-sellable” cannabis. The latest suit charged that the company failed to disclose that one client, Vancouver, British Columbia-based Zenabis Global, returned more than 1,200 pounds of marijuana worth $1.9 million (2.5 million […]

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Italy cancels one of Aurora’s three cannabis supply lots

One of the three lots Canada’s Aurora Cannabis won in July to supply the Italian market has been canceled, Italy’s?minister of health explained in a parliamentary inquiry this week,?citing noncompliance with European Union Good Manufacturing Practice (GMP) standards. In July, Alberta-based Aurora was the sole winner of the contract after all other bidders were disqualified. […]

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‘No longer a shortage,’ Canadian cannabis industry group declares

The shortage of cannabis that plagued businesses in the early months of legalization is over, according to an industry group representing Canada’s biggest marijuana producers. “There is ample supply of cannabis for the adult recreational market,” Cannabis Council of Canada wrote in an open letter to Ontario Premier Doug Ford, who cited the shortfall when […]

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Canada’s cannabis market ‘comes down to execution’: Q&A with marijuana entrepreneur Chuck Rifici

As Canada’s marijuana market enters the next phase of its evolution, serial cannabis entrepreneur Chuck Rifici expects to see a stratification of businesses that have the products consumers demand – and those that lack such merchandise. “We really started the beginning of the brand race, where the consumers are going to start seeing different types […]

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Cannabis Council urges Ontario to ramp up number of adult-use stores, citing ‘ample’ marijuana supplies

Canada’s largest cannabis companies are urging Ontario Premier Doug Ford to significantly increase the number of recreational marijuana stores, noting that the province’s retail footprint is “severely challenging” their ability to invest in the new industry. In an open letter to Ford, the Cannabis Council of Canada said there is an ample supply of marijuana […]

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New Beleave CEO VanderMarel eyes profitability, reverse stock split

Cannabis industry veteran Jeanette VanderMarel has taken the reins of licensed producer Beleave and is looking to turn a profit at the Ontario company in the first half of 2020. One of her first acts on the job was approving a resolution for the company’s Dec. 2 annual general meeting to consider consolidating the number […]

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