Category: Cannabis

Shares of The Green Organic Dutchman plunge after raising financing concerns

CanadianInvestor
Shares of The Green Organic Dutchman plunge after raising financing concerns
TORONTO — The Green Organic Dutchman Holdings Ltd. saw its shares plunge in early trading after the cannabis company said it was reviewing financing alternatives in order to complete construction at its facilities in Ancaster, Ont., and Valleyfield, Que. The company says due to changing market conditions, financing sources have been unavailable on acceptable terms within the timeframes required. Stocks... Read More

Aleafia to cancel supply deal with Aphria, citing failure to meet obligations

CanadianInvestor
Aleafia to cancel supply deal with Aphria, citing failure to meet obligations
TORONTO — Cannabis company Aleafia Health Inc. says it is moving to terminate its wholesale pot supply agreement with Aphria Inc., citing a “failure to meet its supply obligations.” It says the deal signed in September 2018 was between Aphria and Emblem Corp., which Aleafia acquired earlier this year, and it has provided formal notice of termination to the Leamington, Ont.-based pot producer. Aphria was... Read More

Constellation Brands’ Q2 earnings weighed down by Canopy Growth losses

CanadianInvestor
Constellation Brands’ Q2 earnings weighed down by Canopy Growth losses
VICTOR, N.Y. — Alcohol giant Constellation Brands Inc.’s latest quarterly results were weighed down by millions in losses and a writedown in connection with its significant stake in Canadian cannabis producer Canopy Growth Corp., but it still beat market expectations. The U.S.-based producer of Corona beer reported a loss per share of US$2.77 or earnings of US$2.72 on an adjusted basis for... Read More

Canopy cannabis company buys ex-NHL player’s sports nutrition business

CanadianInvestor
Canopy cannabis company buys ex-NHL player’s sports nutrition business
The time has come to have cannabis in sports drinks, says a former NHL player. The sports nutrition business Mike Cammalleri co-founded has been bought by a cannabis company. Canopy Growth Corporation announced Wednesday the purchase of a majority stake in BioSteel Sports Nutrition, which is now developing a line of cannabidiol (CBD) products. Cammalleri played 17 NHL seasons with the Calgary Flames,... Read More

Canopy Growth buys majority stake in sports drink company BioSteel

CanadianInvestor
Canopy Growth buys majority stake in sports drink company BioSteel
SMITHS FALLS, Ont. — Cannabis company Canopy Growth Corp. has bought a majority stake in BioSteel Sports Nutrition Inc., a maker of sports nutrition products. The deal gives Canopy Growth a 72 per cent stake in BioSteel with a path to full ownership. Financial terms of the all-cash agreement were not immediately available. With the acquisition, Canopy Growth gains an entry into the... Read More

Ontario considering alternative to pot wholesale model: sources

CanadianInvestor
Ontario considering alternative to pot wholesale model: sources
TORONTO — Ontario is considering alternative cannabis distribution models and intends to launch a consultation process in the coming weeks, according to sources familiar with the matter. This comes after the Ontario Cannabis Retail Corp., which handles online sales and wholesale distribution of recreational pot and operates as the Ontario Cannabis Store, earlier this month said it lost $42 million... Read More

Canopy Growth leads inaugural list of top 30 performing stocks on the TSX

CanadianInvestor
Canopy Growth leads inaugural list of top 30 performing stocks on the TSX
TORONTO — Canopy Growth Corp. heads the Toronto Stock Exchange’s inaugural list of top 30 performing stocks over the past three years. The list based on dividend-adjusted share price appreciation features newer and established listed companies. Canopy’s shares have appreciated by 1,823 per cent as of June 30, more than double the second-place finisher Shopify Inc. at 883 per cent.... Read More

Martha Stewart says CBD products with Canopy likely ready in mid-2020

CanadianInvestor
Martha Stewart says CBD products with Canopy likely ready in mid-2020
TORONTO — Martha Stewart says a CBD line of products she is developing with Canopy Growth will likely hit the market in the middle of next year. The American food and lifestyle guru told a crowd at the Elevate Conference in Toronto today that she and Canopy are working on some “really good projects right now” such as for the home and food, and if... Read More

Canadian retail sales up 0.4 per cent in July, first increase in three months

CanadianInvestor
Canadian retail sales up 0.4 per cent in July, first increase in three months
OTTAWA — Statistics Canada says retail sales rose 0.4 per cent in July to $51.5 billion, the first increase in three months. Economists had expected an increase of 0.6 per cent, according to financial markets data firm Refinitiv. Statistics Canada says sales were up in six of the 11 subsectors it tracks representing 71 per cent of retail trade. Motor vehicle and... Read More