GFM Network News

Ontario delays start date of retail cannabis sales

Reading Time: 2 minutes Toronto | Reuters — Ontario’s newly elected Tory government said Monday it will delay the start date of recreational marijuana sales in the province and will allow private retailers to sell cannabis rather than government-run stores. Ontario will allow private retailers to sell recreational marijuana starting on April 1, officials from the province’s Progressive Conservative […] Read more

Tim Hortons to enter China

Reading Time: 3 minutes Reuters — Canadian coffee-and-donut chain Tim Hortons will open 1,500 outlets in China over the next decade, capitalizing on a growing cafe culture in the world’s second-largest economy, the chain’s parent Restaurant Brands International said on Wednesday. Restaurant Brands shares rose almost three per cent after the company announced the Tim Hortons move into China […] Read more

Canada prepares for legal pot with new license class, labels

Reading Time: < 1 minute Toronto | Reuters –– Canada’s health regulator on Monday set out thresholds for a new class of cannabis cultivation and processing licenses, and outlined strict requirements for the packaging and labeling of recreational marijuana ahead of its legalization this year. The proposals were published in a document released by Health Canada, taking into account feedback […] Read more

Weed firms again urged to disclose U.S. risks

Reading Time: 2 minutes Toronto | Reuters — Canadian regulators on Thursday reiterated their call for listed cannabis producers with U.S. businesses to clearly disclose risks of operating there, and warned of potential punishment if U.S. federal anti-marijuana laws are more strictly enforced. The Canadian Securities Administrators (CSA) staff notice said stricter U.S. enforcement could result in “material consequences […] Read more

Cannabis firm Aurora in talks to buy both CanniMed, Newstrike

Reading Time: 2 minutes Toronto | Reuters — Canadian marijuana producer Aurora Cannabis is in talks with rivals CanniMed Therapeutics and Newstrike Resources to buy both businesses in a friendly deal that would create the nation’s top weed company, people familiar with the matter told Reuters on Friday. The deal signals an easing of tensions following an offer in […] Read more

Loblaw cuts 500 jobs, plans to reinvest in e-commerce

Reading Time: < 1 minute Toronto | Reuters — Grocery chain Loblaw Co. Ltd. is cutting about 500 jobs across the company, and plans to reinvest the savings into digital and e-commerce services, the company said on Monday. The job cuts, which began on Monday and make up 0.25 per cent of the Toronto-based company’s workforce, will apply to executive […] Read more

Metro to buy Jean Coutu to stave off looming risks

Reading Time: 2 minutes Toronto | Reuters — Metro Inc., Canada’s third-biggest food retailer, on Monday agreed to buy pharmacy chain Jean Coutu Group for $4.5 billion in cash and stock, paying what analysts said was a “steep” premium to protect against risks facing the retail sector. The deal comes at time when global retail giants like, Wal-Mart […] Read more