B.C.-based pot producer Tilray reports revenue surge, net loss

B.C.-based pot producer Tilray reports revenue surge, net loss
NANAIMO, B.C. — B.C.-based cannabis producer Tilray reported an 85 per cent jump in quarterly revenue year-over-year to US$10 million, but a wider net loss during its third quarter. The Nanaimo-based company posted a quarterly net loss of US$18.7 million during the three months ended Sept. 30, compared to US$1.8 million in the third quarter of 2017. Analysts had expected revenues of US$10.1 million and... Read More

Aurora Cannabis ramping up production but recreational pot shortages to linger

Aurora Cannabis ramping up production but recreational pot shortages to linger
TORONTO — Aurora Cannabis saw “strong demand” for recreational pot during the initial few weeks of legalization in Canada and it expects consumer appetite to continue to outstrip supply for “some time.” The Edmonton-based pot producer was able to meet “just about all” of its supply obligations leading up to and after pot for adult use was legalized on Oct. 17, but it will take time to ramp... Read More

Medical pot company plugs web security flaw but privacy concerns persist

Medical pot company plugs web security flaw but privacy concerns persist
TORONTO — A prominent Canadian medical marijuana company took weeks to fix a website security weakness that could have allowed hackers to access a patient’s sensitive information. In an interview this week, the chief technology officer of Namaste Technologies said the changes were made late last month ahead of plans to roll out a complete reworking of the flawed application, which... Read More

Canadian tech companies look to cash in on cannabis with innovations and apps

Canadian tech companies look to cash in on cannabis with innovations and apps
TORONTO — One of John Lem’s first hints that the technology behind his DNA testing company Spartan Bioscience could be a hit with cannabis users came years ago when an executive asked him if genetics could have caused a bad reaction to pot. The question intrigued Lem so much that he eventually applied Spartan’s technology to a new Toronto-based venture called Lobo Genetics. Through Lobo, he created a... Read More

Postmedia invests in media platform for ‘modern cannabis enthusiasts’

Postmedia invests in media platform for ‘modern cannabis enthusiasts’
TORONTO — Postmedia Network Inc. invested in a company that runs a lifestyle website for “modern cannabis enthusiasts” in an effort to help the media company be at the forefront of cannabis content and solutions in Canada, the media conglomerate said Tuesday. The company, which owns the National Post among other newspapers and digital publications, says it made a strategic investment... Read More

Second Cup begins strategic review of company, despite improved Q3 results

Second Cup begins strategic review of company, despite improved Q3 results
MISSISSAUGA, Ont. — The Second Cup Ltd. says it has started a strategic review of the coffee chain company despite reporting improved financial results and continuing on its plan to sell recreational cannabis. The company says its board recognizes the need for the chain to continue to evolve and it now has the capacity to support a broader range of strategic alternatives... Read More

Quebec pot stores to limit operating hours due to supply shortages

Quebec pot stores to limit operating hours due to supply shortages
MONTREAL — Quebec Cannabis Corp. says it will close its 12 stores between Monday and Wednesday until product shortages have stabilized. The provincial cannabis retailer says its new operating schedule will start Monday and continue indefinitely until supply issues are resolved. It adds that limiting its hours to Thursday and Sunday will not eliminate the possibility of shortages in stores as challenges remain for licensed... Read More

Low and slow: A tale of online recreational pot orders across Canada

Low and slow: A tale of online recreational pot orders across Canada
Canadians were eager to buy legal cannabis for recreational use online on Oct. 17, as government-run and privately operated pot portals were lit up with thousands of orders within the first 24 hours of legalization day. However, the problems plaguing many of those initial orders such as delivery delays highlights the growing pains facing the newly legal market. The Canadian Press tried to order... Read More

Delays in Ontario cannabis delivery could push consumers back to black market: critics

Delays in Ontario cannabis delivery could push consumers back to black market: critics
TORONTO — The Ontario government is coming under fire for delays in the delivery of legal cannabis in the province, with critics suggesting consumers could revert back to the black market. Just over a week after recreational marijuana became legal, the provincially run Ontario Cannabis Store website is warning consumers that delivery times for their orders may be longer than expected due to “extremely high... Read More