North America

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:

Tue
24
May

Legalized cannabis in Canada and US hasn’t killed illegal market

cannabis facility

 

Even when cannabis is legalized, some users still prefer to stick with their usual illegal sources, which can be cheaper and easier to access

Some cannabis users continue to buy the drug from illegal sources for years after it is possible to purchase it from regulated, legal shops, because the illegal sources can be cheaper or easier to access, a survey in Canada and the US has found.

The findings suggest that policy-makers who want to wipe out the cannabis black market need to make sure that new legal sources are competitively priced and widely available.

Fri
20
May

Canopy Growth kicks off summer long weekends with exciting new product line-up

terpenes

Canadian cannabis market leader introduces new offerings across its house of brands – 7ACRES, Ace Valley, Deep Space and Doja

Fri
20
May

New cannabis brand seeks content creators

cannabis

Successful applicants will receive free cannabis products.

Thu
19
May

Cannabis company TerrAscend recruits legal chief

cannabis plant

Lynn Gefen is joining from home repair company HomeServe

North American cannabis company TerrAscend Corp, which is listed on the Canadian Securities Exchange, has appointed Lynn Gefen as chief legal officer and corporate secretary, effective May 23.

Gefen is joining TerrAscend from home repair company HomeServe, where she has been deputy general counsel, chief risk and compliance officer and assistant secretary for the past eight years, according to her LinkedIn profile. Before joining HomeServe, she worked at alcoholic beverage company Diageo North America on regulatory, privacy and compliance matters.

Fri
13
May

Cannabis company Sherbinskis partners with Final Bell to expand into Canada

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Partnership marks the first time Sherbinskis products will be available outside of California and Michigan

Cannabis supply chain specialist Final Bell has partnered with California-based cannabis company Sherbinskis to expand into Canada.

Final Bell will be responsible for the end-to-end manufacturing, compliance, and go-to-market of Sherbinskis cannabis products in the Canadian market.

The partnership marks the first time Sherbinskis products will be available outside of California and Michigan.

Thu
12
May

This cannabis stock is analyst's top pick among Canadian LP group, here's why

stocks

Village Farms International, Inc. Tuesday that its consolidated sales increased 34% year-over-year to $70.2 million in the first quarter of fiscal 2022.

Canadian cannabis net sales increased 25% year-over-growth with a gross margin of 34% and adjusted EBITDA of $2.1 million. U.S. cannabis net sales were $7 million, with a gross margin of 67% and adjusted EBITDA of $0.6 million. (Benzinga)

The quarterly results demonstrate the "strength and earnings power of both our Canadian and U.S. Cannabis businesses," said Michael DeGiglio, the company's CEO.

Wed
11
May

FOIA suit uncovers true CBP policy regarding immigration admissibility of individuals connected to legal foreign cannabis industry

Canadian flag

 

It took years, but DWT's cannabis group prevailed in obtaining U.S. Customs and Border Protection's (CBP) policy on the admissibility of non-citizens with ties to legal foreign cannabis businesses.

Following the 2018 legalization of recreational cannabis in Canada, DWT began tracking media reports that CBP was imposing lifetime bans on foreign nationals from entering the United States based on their involvement in Canada's legal cannabis industry. Doubling down on the agency's claimed right to do so, Todd Owen, a senior CBP official, told the press in September 2018: "If you work for the industry, that is grounds for inadmissibility."

Wed
11
May

Flora Growth launches Vessel in Canada; signs deal with Ontario cannabis store and launches Vesselbrand.ca

hash

Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator, manufacturer, and distributor of global cannabis products and brands, announced today its Vessel brand, a leader in premium cannabis accessories, secured meaningful penetration in Canada via an approved listing on the Ontario Cannabis Store. Additionally, Vessel announced it has launched its Canadian direct-to-consumer online store, vesselbrand.ca to service customers directly across the country.

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