GFM Network News

More News →

Tag Archives Cannabis

A Meta Cannabis retail store on Yonge Street in Toronto. (CNW Group/Meta Growth)
Crops

Canadian cannabis retailers poised to merge

High Tide, Meta Growth to create biggest weed retailer

By ,
Two major Canadian cannabis sellers are poised to create the largest pot retailer in the country by revenue. Calgary retailer High Tide Inc., which operates the Canna Cabana chain of stores in three provinces, announced a merger deal Friday to take up Toronto-based Meta Growth Corp., which runs the Meta Cannabis and NewLeaf Cannabis chains. […] Read more
Plants at Delta 9 Cannabis’ indoor production facility in Winnipeg. (Dave Bedard photo)
Crops, Markets, Reuters

Cannabis industry readies for M+A after COVID-19 boosts weed demand

Companies betting on U.S. market growth after election

By ,
Reuters — After nearly a year of next-to-no dealmaking, cannabis companies are gearing up for mergers and acquisitions (M+A) as realistic stock valuations and the prospect of U.S. legalization attract buyers to a sector that has been decimated by oversupply and other issues, executives and investors say. Profitable cannabis companies want to buy their way […] 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.)
Crops, Markets

Aurora Cannabis to shut five Canadian grows

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

By ,
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
Plants at Delta 9 Cannabis’ indoor production facility in Winnipeg. (Dave Bedard photo)
General, Markets

Legalization lifts Canada’s net farm income in 2019

Livestock receipts up, unsmokeable crop receipts lower

By ,
A significant year-over-year increase Canada booked last year in realized net farm income rests mainly on 2019’s status as the country’s first full year in the recreational cannabis market. Statistics Canada on Tuesday released full-year data on farm income, pegging Canada’s realized net farm income for 2019 at $4.9 billion — a 10.4 per cent […] Read more
Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)
Crops

Canopy Growth to close Saskatchewan pot plant

Ontario company stepping out of other international plays

By ,
A major indoor cannabis grow site at Yorkton, Sask. is the latest casualty as pot producer/retailer Canopy Growth adjusts its worldwide footprint. Smiths Falls, Ont.-based Canopy Growth, whose cannabis brands include Tweed, Tokyo Smoke, Van der Pop and Spectrum Therapeutics, announced Thursday it will shut down its Tweed Grasslands production facility at Yorkton to “further […] Read more
Cannabis plants at a licensed indoor production facility in Winnipeg. (Dave Bedard photo)
Crops, Reuters

Ontario drops weed from essentials list

Officials call for further intervention

By ,
Reuters — Ontario’s government on Friday removed cannabis from a list of essential businesses allowed to operate during the lockdown, as part of its efforts to further restrict contact amid a deepening coronavirus crisis. The move comes after health officials projected 80,000 COVID-19 coronavirus cases and about 1,600 deaths by month end under current policies, […] Read more
(CanopyGrowth.com)
Crops, Reuters

Canopy Growth may face challenges offloading assets, CEO says

By , ,
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
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)
Crops, Markets, Reuters

More pain in store for Canadian marijuana companies

Aurora Cannabis, Tilray cut jobs

By
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

Special Podcast

AgCanadaTV

AGCanadaTV Special: Managing clubroot risk in canola

Sponsored By:
More Videos →

Daily Newsletter

You'll receive current daily news every morning free, as well as market updates and special features.