Aurora Cannabis to acquire Mexican company following partnership deal

Aurora Cannabis to acquire Mexican company following partnership deal
EDMONTON — Aurora Cannabis Inc. has signed a deal to acquire Mexican company Farmacias Magistrales. The deal to buy the pharmaceutical manufacturer and distributor follows an agreement last week that saw Aurora partner with the company. It says Farmacias recently became Mexico’s first federally licensed importer of raw materials containing THC. Aurora says Farmacias plans to use imported THC and... Read More

Shoppers Drug Mart granted licence to sell medical marijuana online

Shoppers Drug Mart granted licence to sell medical marijuana online
TORONTO — Shoppers Drug Mart has been granted a licence to sell medical marijuana online. Health Canada’s list of authorized cannabis sellers and producers has been updated to reflect that the pharmacy can sell dried and fresh cannabis, as well as plants, seeds and oil. A website has been set up by the company, which says that patients “with a... Read More

Aurora Cannabis to supply medical pot to Mexico through partnership

Aurora Cannabis to supply medical pot to Mexico through partnership
EDMONTON — Aurora Cannabis says it will supply medical cannabis to Mexico through a partnership with pharmaceutical manufacturer and distributor Farmacias Magistrales. Farmacias recently got the green light to import cannabis, which Aurora says is the first and only import license granted by federal Mexican authorities to date. Aurora’s chief executive Terry Booth says the exclusive partnership expands the cannabis grower’s early mover advantage in... Read More

Altria invests $2.4 billion for 45% stake in Canadian cannabis producer Cronos

Altria invests $2.4 billion for 45% stake in Canadian cannabis producer Cronos
TORONTO — Tobacco giant Altria Group will invest $2.4 billion in Canadian cannabis producer Cronos group for a 45-per-cent ownership stake as the global market for legal pot continues to grow. Virginia-based Altria, parent of the company that makes Marlboro cigarettes, can also invest up to a further $1.4 billion within four years that would increase its ownership stake in Toronto-based Cronos to... Read More

Aphria shares rise 51% as board names committee to review short-sellers’ claims

Aphria shares rise 51% as board names committee to review short-sellers’ claims
LEAMINGTON, Ont. — Shares of cannabis producer Aphria Inc. recouped some of their losses as its board of directors appointed a special committee to review the company’s acquisitions in Colombia, Argentina and Jamaica, which have been criticized by short-sellers. The Leamington, Ont.-based company’s board said it still has “confidence” in the deal, but in the face of “inaccurate and misleading accusations” contained in a short-sellers report published this week... Read More

Aphria names special committee to investigate allegations by short-sellers

Aphria names special committee to investigate allegations by short-sellers
LEAMINGTON, Ont. — Marijuana producer Aphria Inc. says its board of directors has appointed a special committee of independent directors to review the company’s acquisition of LATAM Holdings Inc., which has been criticized by short-sellers. The company says it remains confident in the deal, but in the face of what it called “inaccurate and misleading accusations” by the short-sellers it... Read More

Marlboro maker Altria the latest big company to explore pot

Marlboro maker Altria the latest big company to explore pot
The maker of Marlboro cigarettes is joining some of the biggest names in beer in exploring the budding cannabis marketplace. Altria Group Inc., which owns Philip Morris USA, is the latest big company to show interest in marijuana. Late Monday, Canadian medical marijuana company Cronos Group Inc. confirmed talks with Altria about a possible investment. Altria, based in Richmond, Virginia,... Read More

Aphria defends Latin American operations following short sellers report

Aphria defends Latin American operations following short sellers report
LEAMINGTON, Ont. — Aphria Inc. says it stands behind its Latin American operations as its shares continued to fall in the wake of a short-sellers’ report that raised questions about the company’s acquisitions in the region. Aphria chief executive Vic Neufeld said Tuesday the acquisition of licenses and other assets and related businesses in Colombia, Argentina and Jamaica and a right... Read More

Aphria shares plunge more than 25 per cent after short seller report

Aphria shares plunge more than 25 per cent after short seller report
TORONTO — Shares of Aphria Inc. lost more than a quarter of their value in early trading following a report by a short seller. Aphria shares were down 2.84 or about 27 per cent at $7.67 in heaving trading on the Toronto Stock Exchange. The report by Quintessential Capital Management alleged Aphria has acquired foreign companies at inflated prices in... Read More

Snack food maker Neal Brothers strikes edible deal with Newstrike Brands

Snack food maker Neal Brothers strikes edible deal with Newstrike Brands
TORONTO — Cannabis company Newstrike Brands Ltd. has struck a deal to create co-branded edibles with specialty foods company Neal Brothers Inc., best known for its chips and salsa. Newstrike will own 60 per cent and Neal Brothers will own 40 per cent of a joint venture that will manufacture, distribute, market and sell cannabis-infused products. It will also acquire a... Read More