GFM Network News


Aurora Cannabis in November 2019 opened a flagship retail store at the West Edmonton Mall, describing the 11,000-square foot shop as “both a retail cannabis store and an immersive experiential space.” (CNW Group/Aurora Cannabis Inc.)

Aurora Cannabis revenue short of expectations on lower pot demand

Reuters — Aurora Cannabis on Monday missed Wall Street expectations for fourth-quarter revenue as pandemic-related restrictions weighed down consumer demand, leading Canadian provinces to cut orders. U.S.-listed shares of the company, which also posted a bigger-than-expected quarterly loss, were down two per cent in extended trading. After more than three years into Canada’s legalization of […] Read more

Aurora Cannabis in November 2019 opened a flagship retail store at the West Edmonton Mall, describing the 11,000-square foot shop as “both a retail cannabis store and an immersive experiential space.” (CNW Group/Aurora Cannabis Inc.)

Aurora Cannabis to shut one Edmonton plant

Reuters — Aurora Cannabis said Tuesday it will shut down a facility at Edmonton, adding to the woes of the cash-strapped Canadian pot producer which has been reeling under the impact of the pandemic since last year. The company said medical distribution from the Aurora Polaris facility that is being shut down will move to […] Read more


Aurora Cannabis in November 2019 opened a flagship retail store at the West Edmonton Mall, describing the 11,000-square foot shop as “both a retail cannabis store and an immersive experiential space.” (CNW Group/Aurora Cannabis Inc.)

Aurora Cannabis to shut five Canadian grows

Closures mean layoffs for 30 per cent of firm's production staff

Edmonton marijuana producer Aurora Cannabis is poised to close five of its grow sites across Canada and lay off almost a third of its production workforce. The company on Tuesday announced next steps in the “business transformation plan” it launched in February to “better align the business financially with the current realities of the cannabis […] Read more

A worker pushes a cart of marijuana plants at the Canopy Growth facility at Smiths Falls, Ont. on Jan. 4, 2018. (File photo: Reuters/Chris Wattie)

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



The legalization of cannabis is expected to create thousands of new jobs — from production workers to office staff. Shown here is an Ontario marijuana facility.  (Photo: Reuters/Blair Gable)

Aurora Cannabis plans U.S. stock listing in October

Reuters — Canada’s Aurora Cannabis said Thursday it plans a U.S. listing of its shares in October, as it looks to cash in on strong investor appetite for marijuana producers. Interest has boomed in Canada’s marijuana companies ahead of legalization of recreational cannabis in the country next month. Several U.S. states have also legalized marijuana […] Read more





(Newstrike.ca)

CanniMed asks regulators to step in on hostile bid

Reuters — Medical marijuana company CanniMed Therapeutics has asked federal regulators to intervene as it seeks to prevent a hostile takeover by bigger rival Aurora Cannabis Inc. Saskatoon-based CanniMed said Monday it asked the Financial and Consumer Affairs Authority of Saskatchewan and the Ontario Securities Commission to declare that Aurora’s move to take its buyout […] Read more