The Canadian Press
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Canopy Growth signs deal worth $435 million to buy Supreme Cannabis
TORONTO – Canopy Growth Corp. continued its recent acquisition spree and preparation for the U.S.’s potential legalization of pot with a $435-million deal to buy the Supreme Cannabis Co. Inc. on Thursday. Smiths Falls, Ont.-based Canopy said the acquisition will…
Cannabis company Aphria reports Q3 loss, says COVID-19 lockdowns have caused pressure
Lockdowns enacted by Canadian provinces to quell the spread of COVID-19 hampered Aphria Inc.’s third quarter. The Leamington, Ont.-based cannabis company said Monday that the strict measures applied because of spiking virus cases contributed to a loss in its latest…
Legal challenge seeks to overturn Quebec ban on cannabis T-shirts, other products
MONTREAL – Quebec’s ban on the sale of cannabis-themed products is too broad and inhibits legitimate freedom of expression, the lawyer for a head shop challenging the law argued Thursday. Michael Chevalier told a Quebec Superior Court judge that the…
Vote by Tilray shareholders on Aphria merger deal delayed until April 30
NANAIMO, B.C. – A vote by Tilray Inc. shareholders on the cannabis company’s deal to merge with Aphria Inc. has been delayed, allowing shareholders more time. The vote had been scheduled for today, but shareholders will now vote on April…
Farm-gate cannabis sales allow customers to buy pot straight from the farm
TORONTO – When customers roll up to Thrive Cannabis’ 184-acre farm in Simcoe. Ont, they’ll find three shipping containers fashioned into a pot shop and a colourful crew making history. That crew is led by Thrive’s vice president of business…
High Tide buying 80 per cent stake in U.S. CBD company FABCBD for US$20.64M
CALGARY – Cannabis company High Tide Inc. has signed a deal to buy an 80 per cent stake in U.S. company Fab Nutrition LLC, which is focused on hemp-derived CBD products. The Calgary-based company says it will pay US$20.64 million…
Tilray-Aphria deal closes, company to control biggest share of Cdn pot market
NANAIMO, B.C. – Tilray Inc. and Aphria Inc. say their merger deal has now closed after receiving approval from shareholders of both companies. Tilray shareholders voted Friday in favour of issuing stock to Aphria’s shareholders, but the Nanaimo, B.C.-based company…
Organigram CEO Greg Engel steps down, Peter Amirault appointed on interim basis
MONCTON, N.B. – Organigram Holdings Inc. says Greg Engel is stepping down from his chief executive post. The Moncton, N.B.-based cannabis company did not offer details on Engel’s departure, but says he will continue to act as a special adviser…
Sundial Growers to buy Inner Spirit for $131M, deal expected to close later this year
CALGARY – Sundial Growers Inc. says it will purchase cannabis company Inner Spirit Holdings Ltd. in a $131-million deal. The transaction will hand 86 Spiritleaf pot stores Inner Spirit owns and franchises to Sundial, which is a licensed producer of…
Aurora Cannabis reports $164.7 million loss in Q3, launches cost efficiencies plan
Aurora Cannabis Inc. is on the hunt for savings again after reporting a $164.7-million net loss in its latest quarter. The Edmonton-based company unveiled Thursday a plan to accelerate between $60 million and $80 million in annualized cost efficiencies over…
Hexo to buy 48North in deal valued at $50 million
Hexo Corp. will try to boost its market share with a $50-million deal to buy 48North Cannabis Corp. Ottawa-based Hexo said Monday that purchasing Toronto-based 48North will bring the company closer to its goal of achieving a top two position…
Samuel Adams-maker to launch cannabis beverages subsidiary in Canada
BOSTON – The maker of Samuel Adams beer and Truly Hard seltzer is moving into Canada’s cannabis beverages market. The Boston Beer Co. says it will create a subsidiary to serve as a Canadian research and innovation hub for non-alcoholic?cannabis…
Hexo eyeing private label strategy as it charts U.S. expansion
Hexo Corp. is mulling a private label strategy as part of its U.S. expansion. The chief executive of the Ottawa-based cannabis company said Thursday that he’s considering approaching multi-state operators in the U.S. to partner on Hexo-powered private label brands.…
Aurora Cannabis moves to Nasdaq from NYSE in cost cutting effort
EDMONTON – Aurora Cannabis Inc. says it has moved its stock exchange listing to the Nasdaq Global Select Market from the New York Stock Exchange today. The Edmonton-based cannabis company says transferring the listing to the Nasdaq is part of…
Hexo to buy Redecan for $925 million as hunt for more cannabis market share continues
Hexo Corp. has announced a deal to buy cannabis producer Redecan for $925 million as the pot company continues its hunt for market share. Ottawa-based Hexo said Friday that it has agreed to pay $400 million in cash and $525…