Marijuana Business News

Warning message

The subscription service is currently unavailable. Please try again later.
Synonyms: 
stocks
business
Fri
27
May

Aurora Cannabis Inc. announces US$125 million bought deal financing

logo

Aurora Cannabis Inc. ("Aurora" or the "Company") (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today has announced today that it has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity and BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 51.1 million units of the Company (the "Units"), at a price of US$2.45 per Unit for gross proceeds of approximately US$125.2 million (the "Offering"). Each Unit will be comprised of one common share of the Company (a "Common Share") and one common share purchase warrant of the Company (a "Warrant").

Fri
27
May

Canadian retail cannabis sales climb to monthly all-time high of $358.8M

money

March sees sales in every province and territory rise

Canadian retail sales of cannabis jumped 10.7 per cent in March to reach an all-time high of just shy of $358.8 million, newly released figures from Statistics Canada show.

In February, almost every province, other than Ontario and Saskatchewan, saw a modest dip in sales, The GrowthOp reported at the time. That was reflected in the national total, which was down from about $346 million for January.

Fri
27
May

Weed wars a boon to Sask. cannabis consumers

cannabis shop

Number of stores increasing, cannabis prices dropping

Jim Southam struggles to find the right word to describe the Saskatoon retail cannabis market heading into the summer of 2022.

Saturated. Cutthroat. Unrealistic.

They're all accurate. It's a great time to be a cannabis consumer in Saskatchewan, but not so great for the people on the other side of the counter.

"Looking around at other stores, I've seen three-and-a-half grams selling for $20 or less, plus tax," he said.

"That's less than the black market was my whole life. That's just not sustainable."

Thu
26
May

Item 9 Labs Corp. signs definitive agreement to acquire Sessions Cannabis, one of Canada's largest cannabis retail franchisors

logo

 

Item 9 Labs Corp. (OTCQX: INLB) (the "Company") — a vertically integrated cannabis dispensary franchisor and operator that produces premium, award-winning products — announced today that it has signed a definitive agreement to acquire Sessions Cannabis ("Sessions"), one of Canada's largest cannabis retail franchisors.

"This is a transformative acquisition that fast-tracks our entry into the Canadian market and brings tremendous value to our shareholders," said Item 9 Labs Corp. CEO Andrew Bowden.

Thu
26
May

Entourage Health announces Canadian debut of The Boston Beer Company’s new cannabis-infused iced tea beverages ‘TeaPot’

beer

Entourage Health Corp. (TSX-V:ENTG) (OTCQX:ETRGF) (FSE:4WE) (“Entourage” or the “Company”), a Canadian producer and distributor of award-winning cannabis products and The Boston Beer Company, Inc. (NYSE: SAM), (“BBC”) maker of iconic, high-quality brands such as Samuel Adams, Truly Hard Seltzer and Twisted Tea, are pleased to announce the Canadian debut of ‘TeaPot’, a new line of cannabis-infused iced tea beverages. Developed and formulated alongside Boston Beer’s cannabis subsidiary BBCCC Inc., and Windsor-based Peak Processing Solutions (“Peak”), TeaPot is BBC’s first infused beverage offering which will be available in select Canadian provinces commencing July 2022.

Thu
26
May

More than 300 cannabis retail workers in Quebec go on strike

store

“Our patience has reached its limits.”

Union members of the Société québécoise du cannabis (SQDC), represented by the Canadian Union of Public Employees (CUPE), began a general strike on May 20.

According to a CUPE press release, the strike is in response to the suspension of the union president, vice-president and 75 employees who wore dresses and Bermuda shorts rather than the black pants and sweater required by the SQDC.

Union members are calling for salaries and benefits similar to those working in other comparable state corporations, including the Quebec Liquor Corp. (SAQ).

Wed
25
May

U.S. company acquires Canadian retailer Sessions Cannabis

store

“This is a transformative acquisition that fast-tracks our entry into the Canadian market.”

Arizona-based Item 9 Labs has acquired Sessions Cannabis, one of Canada’s largest cannabis franchises.

Sessions currently operates 43 stores across Ontario.

Item 9 Labs manufactures its own cannabis products and is also the parent company of Unity Rd., a U.S. cannabis franchise developing more than 30 stores across the U.S.

“This is a transformative acquisition that fast-tracks our entry into the Canadian market and brings tremendous value to our shareholders,” Item 9 Labs CEO Andrew Bowden said in a statement.

Wed
25
May

M&A Activity in cannabis industry picking up steam as cannabis market projected to reach $70 billion by 2028

cannabis

A maturing cannabis industry has the potential for enormous growth — but only if growers, processors and retailers can minimize threats to their profitability and stability. The cannabis industry is poised for another year of huge growth in 2022, and the enterprises that will benefit the most are those best-positioned to manage risk. Additional threats and higher premiums won't inhibit industry growth, but cannabis businesses that prioritize risk management will benefit most. With legalization becoming more common, the cannabis industry has been on a roll. A recent article in HUB International projects that the U.S. cannabis industry hit a record $24 billion in sales in 2021, with expected annual sales of $70 billion by 2028.  The article said:

Wed
25
May

The Valens Company continues to expand Canadian recreational market share in April

logo

The Valens Company Inc. (TSX: VLNS) (Nasdaq: VLNS) (the "Company" "The Valens Company" or "Valens"), a leading manufacturer of branded cannabis products, is pleased to provide an update on its recent recreational market share in Canada.

Wed
25
May

Cannabis has more room to grow in Canada

Some feel there are too many dispensaries in Ontario, Canada's most populous province.  But a new study suggests there is more room to grow.

Canada's cannabis market has seen better days. 

Over the last few weeks, multiple Canadian operators have released earnings reports showing sequential declines in revenue. 

Partly to blame is an oversaturated market that retailers say is driving down sales. 

The problem is so pronounced that even Canadian legislators have begun to take notice and some are even vowing to take action.

In Ontario for instance, Canada's most populous province, the Liberal Party has campaigned on a promise to crack down on the number of cannabis stores opening, according to the Ottawa City News. 

Pages

Subscribe to RSS - Marijuana Business News