Category: Cannabis

Cannabis company Canopy Growth delaying launch of infused beverages

CanadianInvestor
Cannabis company Canopy Growth delaying launch of infused beverages
SMITH FALLS, Ont. — Canopy Growth Corp. is delaying the launch of its cannabis-infused drinks. The company says work to scale up to commercial production is not complete and it is delaying the launch date while it completes the final steps. Canopy submitted its final documentation for its beverage facility to Health Canada last June and received its license in... Read More

Cannabis company Aphria cuts outlook for 2020, reports second-quarter loss

CanadianInvestor
Cannabis company Aphria cuts outlook for 2020, reports second-quarter loss
LEAMINGTON, Ont. — Cannabis company Aphria Inc. slashed its outlook as it reported a loss in its latest quarter. Aphria said it now expects net revenue for its 2020 financial year between $575 million and $625 million and adjusted earnings before interest, taxes, depreciation and amortization between $35 million and $42 million. That compared with guidance in October for net... Read More

Tilray names new chief financial officer and new chief operating officer

CanadianInvestor
Tilray names new chief financial officer and new chief operating officer
NANAIMO, B.C. — Cannabis company Tilray Inc. announced changes to its senior executive ranks including a new chief financial officer. The company named Michael Kruteck as chief financial officer, replacing Mark Castaneda, who will take on a role at focused on strategic business development. Tilray says Kruteck has served in senior financial roles at Molson Coors Beverage Co. and most recently... Read More

New Brunswick receives eight proposals to privatize cannabis sales

CanadianInvestor
New Brunswick receives eight proposals to privatize cannabis sales
FREDERICTON — The New Brunswick government has received eight responses to a request for proposals for the operation, distribution and sales of recreational cannabis in the province. The government issued the call for proposals in November, saying that losses incurred by Cannabis NB — the provincial cannabis corporation — persuaded the government it was time to turn to the private sector.... Read More

Vapes, edibles and tea coming to legal Ontario cannabis shops next week

CanadianInvestor
Vapes, edibles and tea coming to legal Ontario cannabis shops next week
TORONTO — Ontario’s cannabis distributor says dozens of new marijuana products will be available in retail shops starting Monday but supplies will be limited. The Ontario Cannabis Store unveiled 59 new items today including a variety of vapes, edibles and a tea. The products will be available in the province’s legal cannabis retail stores starting next week and on the OCS website on Jan. 16.... Read More

Hexo shares tumble after company announces new share issue at discounted price

CanadianInvestor
Hexo shares tumble after company announces new share issue at discounted price
OTTAWA — Shares in cannabis firm Hexo Corp. tumbled Friday by as much as 21 per cent on the Toronto Stock Exchange after it announced it would issue about 15 million new shares, a move that could dilute the value of its existing stock. The shares fell to a new 26-month low of $2.03 on the first trading day in Toronto following... Read More

Brisk early sales of weed edibles at Nova Scotia Liquor Corp. outlet

CanadianInvestor
Brisk early sales of weed edibles at Nova Scotia Liquor Corp. outlet
HALIFAX — Stocking stuffers with a kick are moving briskly off the shelves at Nova Scotia’s government-operated cannabis shops in the leadup to Christmas. In showing off the early offerings of various “edibles” at a Nova Scotia Liquor Corporation outlet, spokeswoman Bev Ware notes quite a few cupboards are already bare. Ware says lineups of customers filled the store on Monday, and all of the... Read More

Aurora Cannabis shares fall after chief corporate officer Battley steps down

CanadianInvestor
Aurora Cannabis shares fall after chief corporate officer Battley steps down
EDMONTON — Shares in Aurora Cannabis Inc. fell to their lowest level in more than two years Monday after the announcement on the weekend that Cam Battley had suddenly stepped down as chief corporate officer. The stock fell by about 9.8 per cent to as low as $2.66 in trading on the Toronto Stock Exchange, down from its $2.95 close on Friday and... Read More

Canadians spent $908M at cannabis stores since legalization, StatCan says

CanadianInvestor
Canadians spent $908M at cannabis stores since legalization, StatCan says
OTTAWA — Statistics Canada says Canadians spent $908 million on non-medical cannabis in nearly the first year since legalization. The agency says Canadians spent $24 per capita at cannabis stores from Oct. 17, 2018, when cannabis was legalized, to the end of September 2019. Yukon led sales per person at $103, with Prince Edward Island in second place at $97.... Read More