Category: Cannabis

Aurora Cannabis co-founder Terry Booth retires from board of directors

CanadianInvestor
Aurora Cannabis co-founder Terry Booth retires from board of directors
EDMONTON — Aurora Cannabis Inc. says co-founder Terry Booth has retired from the company’s board of directors. Booth stepped down as chief executive in February, but had remained a member of the board of the cannabis company. Michael Singer, Aurora’s executive chairman and interim CEO, says Booth helped set the table for the company to lead in Canada and around... Read More

Aphria, Emblem and Aleafia settle dispute over cancelled supply agreement

CanadianInvestor
Aphria, Emblem and Aleafia settle dispute over cancelled supply agreement
LEAMINGTON, Ont. — Aphria Inc. has reached a deal worth $29.1 million to settle a dispute with Emblem Cannabis Corp. and Aleafia Health Inc. The settlement ends a disagreement the companies had over Aleafia’s decision in 2019 to cancel a supply agreement it had with Aphria. Aphria CEO Irwin Simon says the deal allows the companies to avoid the distraction... Read More

Cannabis company Canopy Growth signs deal to amend Acreage Holdings deal

CanadianInvestor
Cannabis company Canopy Growth signs deal to amend Acreage Holdings deal
Canopy Growth Corp. is shaking up its Acreage Holdings Inc. acquisition deal because of “broader market and economic factors.” Smiths Falls, Ont.-based Canopy signed an agreement in April 2019 to takeover the New York company if cannabis production and sale became federally legal in the United States. The deal would help Canopy deepen its international opportunities and involved the company agreeing to pay 0.5818 of its... Read More

Aurora Cannabis to lay off staff, close five sites, take impairment charges

CanadianInvestor
Aurora Cannabis to lay off staff, close five sites, take impairment charges
EDMONTON — Aurora Cannabis Inc. is continuing to restructure with more layoffs, facility closures and impairment charges. The Edmonton-based cannabis company says it will reduce its selling, general and administrative workforce by 25 per cent immediately. Another 30 per cent of production staff will be laid off from the company over the next two quarters. Aurora has also decided to cease operations at... Read More

Hexo Corp. sells Niagara Falls cannabis facility for $10.25 million

CanadianInvestor
Hexo Corp. sells Niagara Falls cannabis facility for $10.25 million
OTTAWA — Hexo Corp. says it has sold its facility in Niagara Falls, Ont., for $10.25 million to an undisclosed buyer. The cannabis company announced in March plans to list the facility after reviewing its cultivation assets. Hexo determined that it no longer expected to restart operations, which it halted in November 2019, due to an excess of cultivation capacity in... Read More

Aurora Cannabis president Steve Dobler stepping down at the end of the month

CanadianInvestor
Aurora Cannabis president Steve Dobler stepping down at the end of the month
EDMONTON — Aurora Cannabis Inc. says co-founder Steve Dobler will retire as president and as a director of the company at the end of the month. Dobler has held the roles at the cannabis company since December 2014. With the retirement of Dobler, the board will have nine directors. The move follows the departure of founder Terry Booth, who stepped down as... Read More

Toys “R” Us wins case against B.C. cannabis dispensary with similar branding

CanadianInvestor
Toys “R” Us wins case against B.C. cannabis dispensary with similar branding
VANCOUVER — A Vancouver cannabis dispensary is going to need a new name and logo after losing a legal battle with retailer Toys “R” Us (Canada) Ltd. A federal judge ruled Herbs “R” Us Wellness Society has used Toys R Us’s registered trademark in a way that damages the goodwill attached to it. Toys “R” Us argued that Herbs “R” Us’s green logo with... Read More

Median price of dried cannabis dropped 25 per cent in Ontario last year: OCS

CanadianInvestor
Median price of dried cannabis dropped 25 per cent in Ontario last year: OCS
TORONTO — The Ontario Cannabis Store says the median price of dried flower dropped 25 per cent in its first full year of operation since legalization in a bid to compete with the illegal market. The illegal price was $8.23 per gram, compared with $8.56 at OSC.ca and $10.84 at retail stores. Ontario consumers spent $385.1 million for 35.1 million... Read More

CannTrust Holdings greenhouse licenses reinstated, plans restart of operations

CanadianInvestor
CannTrust Holdings greenhouse licenses reinstated, plans restart of operations
VAUGHAN, Ont. — CannTrust Holdings Inc. says Health Canada has reinstated its licences for its greenhouse in Niagara and that it will immediately restart operations. The cannabis company says it cannot say when its products will be available in the market as that depends on a Health Canada decision regarding its manufacturing facility in Vaughan, Ont. The decision regarding the... Read More

Canopy Growth reports $1.3B fourth-quarter loss, hits reset on strategic focus

CanadianInvestor
Canopy Growth reports $1.3B fourth-quarter loss, hits reset on strategic focus
Canopy Growth Corp. is rethinking its first-to-every-market strategy after reporting a $1.3-billion loss in its fourth quarter. The Smith Falls, Ont.-based cannabis company says as part of an ongoing restructuring it has decided not to strive to be the first to every market and will instead focus on select areas like Canada, the U.S. and Germany, where it believes it can be... Read More