Cannabis – Canadian Investor

Cannabis venture capital firm Canopy Rivers reports $1.8-million Q4 loss

July 16, 2019 CanadianInvestor

TORONTO — Canopy Rivers Inc. reported a loss of $1.8 million in its latest quarter compared with a profit of nearly $14.6 million in the same quarter last year. The venture capital arm of marijuana company Canopy Growth Corp. says the loss amounted to two cents per diluted share for the quarter ended March 31 compared with a profit of 11... Read More

Health Canada revokes licences of pot producer Agrima Botanicals

July 15, 2019 CanadianInvestor

VANCOUVER — Cannabis producer Agrima Botanicals Corp. has had its licences revoked by Health Canada, months after the company disclosed the regulator’s finding that “unauthorized activities” with pot took place at the firm. Agrima is now listed on Health Canada’s website of licensed producers with the status “revoked,” after having its licences suspended last fall. Agrima’s parent company Ascent Industries Corp said in... Read More

Cannabis producer Organigram Holdings Inc. reports $10.2M third-quarter loss

July 15, 2019 CanadianInvestor

MONCTON, N.B. — Organigram Holdings Inc. reported a loss of $10.2 million in its latest quarter compared with a profit of $2.8 million. The cannabis producer says the loss amounted to nearly seven cents per share for the quarter ended May 31 compared with a profit of three cents per share in the same quarter a year ago. Net revenue... Read More

CannTrust stock falls after voluntary halt of all cannabis sales, shipments

July 12, 2019 CanadianInvestor

VAUGHAN, Ont. — Shares of CannTrust Holdings Inc. fell as much as 11 per cent after the cannabis company announced it was voluntarily halting all sales and shipments amid Health Canada’s investigation. CannTrust’s stock was trading at $3.90 on the Toronto Stock Exchange at mid-morning, down 11.1 per cent from its previous close of $4.04. That’s sharply down from its $6.46... Read More

CannTrust’s Danish partner quarantines more pot connected to unlicensed rooms

July 11, 2019 CanadianInvestor

TORONTO — CannTrust Holdings Inc.’s Danish partner says it has quarantined more medical pot products linked to illegal cultivation at the Canadian cannabis company’s greenhouse, and warned of possible shortages in Denmark as a result. Stenocare says it has received documentation that shows that five batches of the Danish company’s inventory originated in growing rooms that did not have government... Read More

Legal pot price as much as 80 per cent more than illicit: StatCan

July 10, 2019 CanadianInvestor

OTTAWA — Statistics Canada says the average cost of a gram of cannabis from the illicit market continues to drop as legal prices rise — with authorized retailers charging as much as 80 per cent more. The government agency says the average price of an illegal gram of pot was $5.93 in the second quarter, down from $6.23 in the previous... Read More

OCS pulls affected CannTrust cannabis products amid Health Canada probe

July 10, 2019 CanadianInvestor

TORONTO — The Ontario Cannabis Store says it has removed certain CannTrust Holdings Inc. products from its shelves online and at physical outlets until Health Canada completes its investigation involving the licensed producer. The OCS says it has voluntarily pulled all affected products after the regulator put a hold on thousands of kilograms of CannTrust’s cannabis after Health Canada found it... Read More

CannTrust’s Danish partner quarantines pot products linked to illegal growing

July 9, 2019 CanadianInvestor

ALLEROD, Denmark — CannTrust Holdings Inc.’s Danish partner says it has quarantined a batch of products received from the licensed producer in connection with Health Canada’s recent discovery of illegal growing operations at its Ontario greenhouse. Stenocare says it has been in contact with the Danish Medicines Agency and the single batch has been put in quarantine for potential destruction, pending... Read More

CannTrust faces Health Canada problems, warns of product shortages

July 8, 2019 CanadianInvestor

VAUGHAN, Ont. — Cannabis producer CannTrust Holdings Inc. warns there will be temporary shortages of some products while it works to get Health Canada approval for cannabis produced in unlicensed rooms at its greenhouse facility in Pelham, Ont. Health Canada has ruled the greenhouse was non-compliant regarding the growing of cannabis in five unlicensed rooms and inaccurate information provided to... Read More

Ontario to issue 50 new cannabis store licences, eight to go to First Nations

July 3, 2019 CanadianInvestor

TORONTO — Ontario is set to get 50 more cannabis retail stores starting in October. The finance minister and attorney general say the Alcohol and Gaming Commission of Ontario will hold a lottery for 42 retail store authorizations. Another eight stores will be located on First Nations reserves through a separate process. Previously, 25 retailers were chosen through a lottery... Read More