Marijuana Business News

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business
Tue
30
Jun

B.C. Interior First Nation eyes own cannabis operation for economic, medicinal benefit

A B.C. First Nation located in a semi-remote area on the Fraser River southwest of Williams Lake is exploring potential operations within the cannabis industry.

Stswecem’c Xgat’tem First Nation (Canoe Creek/Dog Creek) Kukpi7 (Chief) Patrick Harry said the nation (SXFN) has signed a letter of intent with a B.C. First Nations company to explore cannabis production that would provide economic and medicinal benefits for his community.

“We still have some work to do but our nation is interested and I would say as a leader in my community I think I have a responsibility to explore the opportunity within the cannabis sector as we see the numbers across Canada are favourable,” he said.

Tue
30
Jun

Have We Seen The Last Of Canadian Cannabis Facility Shutdowns After Aurora Cannabis’ Major Restructuring?

One of the more compelling statistics that highlights how much the Canadian cannabis industry has been impacted the recent closures of production facilities. For an industry that was once valued on funded capacity, this represents a significant a change in strategy and believe that our readers needed to aware of this trend.

For those who do not know what funded capacity means, it refers to the amount of cannabis that can be produced with the amount of cash on the balance sheet. This metric assumed that there would no issues during the licensing or construction process and we found humor in the companies and the bankers that were touting this metric.

Mon
29
Jun

The Top Marijuana Stock to Buy for the Second Half of 2020

Believe it or not, we're nearly halfway through 2020. It's been a rough year so far for many marijuana stocks, although a few have fared much better than others.

I expect that the overall cannabis industry will gain some momentum over the next six months. If I'm right, that should be good news for the stocks of leading cannabis companies. But what's the top marijuana stock to buy for the second half of 2020? My view is that there's a really strong argument for Innovative Industrial Properties (NYSE:IIPR).

Mon
29
Jun

Aurora Cannabis’ $1.94 Billion Mistake Just Got Worse

Aurora’s cost-cutting effort resolves one problem but exposes another.

Aurora tries to backpedal to profitability

At this time last year, Aurora Cannabis was still widely viewed as the kingpin of marijuana. Although it didn’t have Canopy Growth‘s cash pile, it had 15 production facilities that, if fully operational, could produce more than 650,000 kilos of cannabis a year.

Mon
29
Jun

Alberta cannabis industry in retreat as operations pruned, jobs cut

Tim Hagen had come to quietly appreciate the cannabis growing operation tucked away in the woods a few kilometres north of his village.

But this week, one of the underpinnings of the local economy, Aurora Cannabis’ Mountain facility, got the word from corporate headquarters in Edmonton that it would be uprooted, a victim of hard times in the country’s fledgling pot industry.

Fri
26
Jun

Are These Marijuana Stocks Worth The Investment?

Can These Pot Stocks Show Value In The Coming Months?

Fri
26
Jun

Aphria, Emblem, Aleafia settle dispute over cancelled supply agreement

Aphria Inc. has reached a deal worth $29.1 million to settle a dispute with Emblem Cannabis Corp. and Aleafia Health Inc.

The settlement ends a disagreement the companies had over Aleafia's decision in 2019 to cancel a supply agreement it had with Aphria.

Aphria CEO Irwin Simon says the deal allows the companies to avoid the distraction and the potential expense of prolonged litigation.

Under the agreement, Emblem, which was acquired by Aleafia in 2019, will receive $15 million in cash, $10 million in Aphria shares and a waiver of claimed receivables.

The companies also agreed to a mutual release of all existing and potential claims and the dismissal of arbitration proceedings that had begun.

Fri
26
Jun

Edmonton region set to become home to largest cannabis gummy facility in Canada

Alberta’s capital region is set to be home to the largest cannabis gummy production facility in the country.

Dynaleo is set to open a 26,000-square-foot manufacturing plant near the Edmonton International Airport after it secured a processing facility permit from Health Canada. Executive chairman Michael Krestell said the next step now is to get a licence to sell so the company can move its edible products to be sold from the Alberta Gaming, Liquor and Cannabis (AGLC) online store and other businesses.

Fri
26
Jun

Cannabis company Canopy Growth signs deal to amend Acreage Holdings deal

Canopy Growth Corp. is shaking up its Acreage Holdings Inc. acquisition deal because of "broader market and economic factors."

Smiths Falls, Ont.-based Canopy signed an agreement in April 2019 to takeover the New York company if cannabis production and sale became federally legal in the United States.

The deal would help Canopy deepen its international opportunities and involved the company agreeing to pay 0.5818 of its share for each Acreage share.

As part of the changes, which include an up-front payment for Acreage shareholders and certain convertible security holders totalling US$37.5 million or about 30 cents US per share, Acreage shareholders will receive 0.7 of a fixed share and 0.3 of a floating share for each Acreage share they hold.

Thu
25
Jun

6 Steps To Steering Your Cannabis Business To Recovery

In today's rapidly changing economy, there is a lot of discussion about best practices to successfully emerge from the initial impact of the recent COVID-19 crisis.

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