Category: Cannabis

Aurora reports $3.3 billion loss for full year, $1.86 billion for Q4

CanadianInvestor
Aurora reports $3.3 billion loss for full year, $1.86 billion for Q4
Miguel Martin has his work cut out for him just weeks into his new job as Aurora Cannabis Inc.’s chief executive. The Edmonton-based cannabis company reported Tuesday that it incurred $3.3 billion in losses in its 2020 fiscal year, including $1.86 billion in its latest quarter due to large impairment charges. Martin, who was named CEO on Sept. 8, conceded... Read More

B.C. unveils new cannabis sales programs to help small, Indigenous growers

CanadianInvestor
B.C. unveils new cannabis sales programs to help small, Indigenous growers
VICTORIA — The B.C. government says it will launch three cannabis programs over the next two years to help small and Indigenous growers compete with larger rivals. A farm-gate program would allow growers to sell their products at stores located at their production sites. Another program would allow small cannabis producers, licensed by Health Canada, to deliver cannabis directly to... Read More

Anavii Market Offers Brand New Line of Martha Stewart CBD Products

Editor
Anavii Market Offers Brand New Line of Martha Stewart CBD Products
KENTUCKY – Anavii Market, a premier online retailer of verified CBD oil, today announced the unveiling of a much-anticipated brand of Martha Stewart CBD. The new collection consists of six unique hemp products, including CBD tinctures, gummies and softgels, all developed and curated by Martha Stewart herself in partnership with Canopy Growth Corporation. This is the first-ever CBD product launch... Read More

Aurora names new CEO, expects up to $1.8B in goodwill impairment charges

CanadianInvestor
Aurora names new CEO, expects up to $1.8B in goodwill impairment charges
EDMONTON — Aurora Cannabis Inc. promoted Miguel Martin to chief executive and warned that it expects to record up to $1.8 billion in goodwill impairment charges in the fourth quarter of its 2020 financial year. Martin was chief executive of U.S. CBD company Reliva when Aurora acquired it earlier this year and became chief commercial officer at Aurora in July.... Read More

Canopy Growth lays off more workers, won’t say how many impacted by cuts

CanadianInvestor
Canopy Growth lays off more workers, won’t say how many impacted by cuts
SMITHS FALLS, Ont. — Canopy Growth Corp. is laying off another round of workers as the cannabis company continues to restructure. The Smiths Falls, Ont.-based company would not say how many employees were impacted by the cuts, but confirmed they were based at its Niagara-on-the-Lake and Smiths Falls locations and said it would share more details in the fall when it releases... Read More

Canopy Growth to open 10 stores in Alberta under Tweed and Tokyo Smoke banners

CanadianInvestor
Canopy Growth to open 10 stores in Alberta under Tweed and Tokyo Smoke banners
SMITH FALLS, Ont. — Canopy Growth Corp. says it will open its first retail cannabis stores in Alberta. The Ontario-based company says it’s set to open 10 stores under the Tweed and Tokyo Smoke banners and has additional locations in the pipeline. The stores, which are to open over the next week, include seven locations in Calgary, one each in Spruce... Read More

Cannabis retailers High Tide and Meta merge in deal giving them 63-store network

CanadianInvestor
Cannabis retailers High Tide and Meta merge in deal giving them 63-store network
TORONTO — Cannabis retailers High Tide Inc. and Meta Growth Corp. will merge in a new deal that they say will make them the largest legal pot shop network in Canada. The companies say the merger will give them a combined 63 stores across Ontario, Alberta, Manitoba and Saskatchewan and make it the single largest Canadian cannabis retailer by revenue with about $133 million... Read More

B.C. allows private pot retailers to sell products online for in-store pick-up

CanadianInvestor
B.C. allows private pot retailers to sell products online for in-store pick-up
VICTORIA — The British Columbia government says new rules for private cannabis retailers will allow pot to be reserved and paid for online, but customers still have to pick up their orders in person. The province says the regulations now allow private cannabis stores to accept payments made on a website, app or by telephone. Previous licence conditions allowed customers to reserve cannabis products online, but required... Read More

Aphria posts $98.8 million net loss in Q4, missing analyst estimates

CanadianInvestor
Aphria posts $98.8 million net loss in Q4, missing analyst estimates
LEAMINGTON, Ont. — Aphria Inc. reports it had a $98.8 million net loss for its fourth quarter, despite higher revenue from cannabis products. The Ontario-based company says its loss included a $64-million non-cash asset impairment expense largely related to the COVID-19 at some of its international businesses. The loss also included non-operating losses related to investments that declined with the... Read More