Marijuana Business News

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stocks
business
Thu
29
Jul

Tilray Shares Surge as Cannabis Poised to Benefit After Lockdown

stock chart showing steep increase

(Bloomberg) -- Tilray Inc. shares surged the most in more than five months as investors rewarded the cannabis company for profiting even amid challenges due to Canada’s Covid-19 restrictions.

Net income was $33.6 million for the fiscal fourth quarter ended May 31, compared to a loss of $84.3 million in the year-earlier period, while Ebitda almost quadrupled to $12.3 million, the Leamington, Ontario-based company said in a statement today. It was the company’s first quarterly report since it merged with Aphria Inc.

Mon
26
Jul

Kanabo to be Europe's biggest public cannabis business after takeover

cannabis plants growing

 

London-listed marijuana business Kanabo (KNB.L) has struck a deal that it says will make it Europe's biggest publicly traded cannabis company.

Kanabo said on Monday it had agreed terms to buy the European operations of Canada's Materia, a cannabis processor and supplier. Exact terms weren't disclosed but Kanabo said the deal would be paid for through shares and subject to performance-related goals.

"The only part that we’re not involved in now in the supply chain is cultivation," Kanabo's chief executive Avihu Tamir told Yahoo Finance UK. "Our belief is that cultivation will be a commodity like other agricultural products. We believe the value is in the last mile."

Mon
26
Jul

Delta cannabis operations to utilize millions of square feet

commercial cannabis harvest

The cannabis grow operations are located within the Agricultural Land Reserve

 

A large-scale greenhouse, that’s made the switch to cannabis, is finally entering the market with its first harvest.

AgraFlora Organics International Inc. has a partnership with the huge Houweling Nurseries complex on 64th Street, an operation called Propagation Services Canada.

Greenhouse owner Ruben Houweling and CEO Elise Coppens this week on Twitter proudly pictured themselves in the drying room at the Delta facility, saying the operation’s first harvest is complete.

The venture will see the eventual conversion of the entire 2.2-million-square-foot greenhouse facility, which is located in the Agricultural Land Reserve.

Mon
26
Jul

Former CannTrust leaders to make first court appearance following fraud charges

gold gavel

Three former executives of CannTrust Holdings Inc. are expected to appear in an Ontario court today as they face charges related to an unlicensed growing scandal.

The cannabis company's former chief executive Peter Aceto, former vice-chairman Mark Litwin, and former chairman Eric Paul each face charges of fraud, making false or misleading statements and authorizing, permitting or acquiescing in the commission of an offence.

Litwin and Paul are also facing insider trading charges and Litwin and Aceto are charged with making a false prospectus and false preliminary prospectus.

Tue
20
Jul

Althea Canadian Subsidiary Inks Cannabis Deal

signing papers

Australian medical cannabis company Althea Group Holdings Limited (ASX: AGH) says its Canadian subsidiary has signed a manufacturing agreement with another cannabis company in that country.

The agreement is between Peak Processing Solutions and Delshen Therapeutics Corp’s wholly owned subsidiary 48North Cannabis Corp and involves Peak manufacturing four products for 48North’s Latitude brand. The products are: a CBD body lotion, a 1:1 THC/CBD body lotion, CBD bath salts, and a 1:1 THC/CBD bath salts.

Minimum order quantities under the agreement have a combined value of approximately CAD$1.25 million.

“This agreement with 48North is once again recognition that Peak is becoming a major player in the Canadian legal cannabis market,” said Althea CEO Joshua Feagan.

Tue
20
Jul

Sixth Wave Commissions Pre-Production Affinity(TM) System

marijuana leaf

Halifax, Nova Scotia--(Newsfile Corp. - July 20, 2021) - Sixth Wave Innovations Inc. (CSE: SIXW) (OTCQB: SIXWF) (FSE: AHUH) ("Sixth Wave", "SIXW" or the "Company") is pleased to announce that it has completed the initial Design for Manufacturing ("DFM") of its Affinity™ System (the "System") and has given Advanced Extraction Systems Inc. (AESI), located in Charlottetown, Prince Edward Island, approval of the design and bill of materials and commissioned delivery of its first System. It is estimated that the System will be ready for wet testing at AESI in late September and ready for shipment to the Company's proving laboratory in Maryland shortly thereafter.

Tue
20
Jul

Cannabis Investors Should Know the Difference Between Marijuana and Hemp

holding a marijuana leaf

Canada, France and China are the leading manufacturers of industrial cannabis in the U.S. today. Yet our nation has seen a dramatic increase in hemp farming across the entire continent.

Research and Markets estimates that the global industrial hemp market will reach $17.4 billion by 2027, up from $5.6 billion in 2020.

 

A Short History of Hemp

As a people, we have been using hemp for more than 10,000 years. There were traces of it found in Asia as early as 8000 B.C.

The forefathers of this country used hemp. The Constitution and the Declaration of Independence were written on hemp. The first 4 presidents grew their own hemp. Benjamin Franklin was a hemp farmer in Kentucky.

Tue
20
Jul

Tilray Executives Continue To Unload Shares Despite A Falling Share Price

stock charts

Following the closing of the merger between Aphria and Tilray, Inc. (TSX: TLRY) (Nasdaq: TLRY), former Tilray CEO Brendan Kennedy took a backseat to Irwin Simon who was appointed as CEO of the combined company. Originally viewed on Technical420

After the transaction closed, Tilray appointed Kennedy as a Director and a Board Member of the combined company and we are favorable on his decision to remain involved with the advancement of the Canadian Licensed Producer (LP).

Tue
20
Jul

Canopy Growth vs. Aurora Cannabis: Which Is the Better Buy?

stock charts

Cannabis stocks were a growth machine for investors following the 2015 Canadian federal election. The hype for recreational legalization ramped up, and Liberal leaders Justin Trudeau managed to deliver on the promise. However, the reality of the rollout started to sour investors on the sector. As it stands today, the Canadian cannabis market is in desperate need of a boost to bring it back in the eyes of investors. Today, I want to look at Canopy Growth (TSX:WEED)(NYSE:CGC) and Aurora Cannabis (TSX:ACB)(NYSE:ACB), two top producers whose shares have plunged in 2021. Which is the better buy today? Let’s jump in.

Mon
19
Jul

PBG BioPharma Inc. Receives Health Canada Cannabis Processing Licence

marijuana plant

LEDUC, AB, July 19, 2021 /CNW/ - PBG BioPharma Inc. ("PBG" or the "Company"), is pleased to announce that Health Canada has issued the company a Standard Processing Licence under the Cannabis Act, allowing the company to begin commercial scale cannabis/hemp manufacturing operations immediately.

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