GFM Network News



Pot producer CannTrust to destroy $77M in plants, inventory

Reuters — Canadian cannabis producer CannTrust Holdings said Monday it would destroy about $12 million worth of plants and about $65 million worth of inventory as part of a plan to regain full regulatory compliance. Health Canada canceled CannTrust’s license to produce and sell cannabis in September, months after it found the company was illegally […] Read more


Big Weed hits up Europe hoping for expansion cash

Toronto/London | Reuters — A favorite of DIY stock pickers, Canadian cannabis firms are trying to bolster their institutional investor base by ramping up efforts to woo European funds as countries across the region approve marijuana for medical use. For some time companies including Canopy Growth, Aurora Cannabis and Tilray Inc. have been signing export […] 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



Hothouse produce grower to devote site to marijuana

Canada’s only publicly traded greenhouse produce-growing company plans to put up one of its British Columbia greenhouses for a new venture in cannabis production. Vancouver-based Village Farms announced Tuesday it has partnered with Victoria-based medical cannabis producer/processor Emerald Health Therapeutics in a 50/50 joint venture to grow cannabis for medical use and, pending changes to […] Read more



Flower growers turn to weed ahead of legalization

Winnipeg | Reuters — Some Canadian flower growers are turning to weed, with the country’s plan to legalize marijuana for recreational use expected to spur a spike in legal sales of the drug. While medical marijuana is already legal in Canada, the Liberal government said in April it will introduce a law in 2017 to […] Read more