GFM Network News


Canadian pot producer Aphria to buy U.S. craft brewer

SweetWater's '420' beer would come to Canada

Reading Time: 2 minutes Reuters — Canadian cannabis company Aphria Inc. said on Wednesday it plans to buy craft brewer SweetWater Brewing for US$300 million as it looks to expand into the U.S. while becoming the first major pot producer to enter the alcoholic beverages market. The deal gives Leamington, Ont.-based Aphria a U.S. distribution point at a time […] Read more

Canopy Growth to move U.S. listing to Nasdaq

Canadian cannabis company minding expenses

Reading Time: 2 minutes Reuters — Canadian pot producer Canopy Growth said on Tuesday it would move its U.S. stock listing to the Nasdaq, following rival Aphria in favouring the exchange’s “cost-effectiveness.” Canopy’s U.S. shares, currently listed on the New York Stock Exchange, rose over four per cent in extended trading. Years of high expenses and a lack of […] Read more


Cannabis industry readies for M+A after COVID-19 boosts weed demand

Companies betting on U.S. market growth after election

Reading Time: 2 minutes Reuters — After nearly a year of next-to-no dealmaking, cannabis companies are gearing up for mergers and acquisitions (M+A) as realistic stock valuations and the prospect of U.S. legalization attract buyers to a sector that has been decimated by oversupply and other issues, executives and investors say. Profitable cannabis companies want to buy their way […] Read more

Bargain hunters fire up rally in cannabis stocks

Reading Time: 2 minutes New York | Reuters — Some cannabis stocks are seeing their prices surge as investors hunt for winners in the ashes of an industry shakeout that hammered share prices last year. Shares of Tilray Inc. and Canopy Growth Corp. have climbed more than 20 per cent since the start of the year, while Cronos Group […] Read more


Cannabis patients boost Aurora edible sales

Reading Time: 2 minutes Toronto | Reuters — Aurora Cannabis this week became the first major Canadian company to sell edibles and vapes for medical use, a small base that nevertheless helps shore up margins and paves the way for sales in the much larger European medical market. Medical marijuana has been legal in Canada since 2001, and recreational […] Read more

U.S. firm launches second hostile bid for pot producer Aphria

Reading Time: 2 minutes Reuters — U.S. cannabis retailer Green Growth Brands said on Tuesday it would make a second all-stock takeover bid for Aphria, valuing the Canadian pot producer at about $2.35 billion. Several companies are looking to partner with or buy pot firms to explore opportunities in the Canadian cannabis sector after the country legalized recreational use […] Read more


Ontario marijuana producer Aphria’s CEO to step down

Reading Time: 2 minutes Reuters — Canadian pot producer Aphria’s co-founder and CEO Vic Neufeld is stepping down, at a time the company is facing questions about its deals in Latin America and a recent slump in its shares. The Leamington, Ont. company also said its marijuana sales nearly doubled in the second quarter driving overall revenue to $21.7 […] Read more

Aphria says proposed hostile bid undervalues company

Reading Time: < 1 minute Reuters — Canadian cannabis producer Aphria said on Friday Green Growth Brands’ proposed $2.8 billion all-stock hostile bid “significantly” undervalued the company. Ohio-based cannabis retailer Green Growth, which merged with Xanthic Biopharma in November, said on Thursday it would offer 1.5714 shares for each Aphria share. The company said its valuation was based on a […] Read more


U.S. hostile play launched for Ontario pot producer Aphria

Reading Time: < 1 minute Reuters — U.S. cannabis company Green Growth Brands said on Thursday it would make a takeover bid for Aphria Inc., valuing the Canadian pot producer at $2.8 billion. The all-stock offer comes at a time when several companies are looking to partner with or buy pot firms to explore opportunities in the Canadian cannabis sector […] Read more

Altria reported seeking stake in cannabis firm Aphria

Reading Time: < 1 minute Reuters — Marlboro maker Altria Group is in talks for a stake in Canadian cannabis producer Aphria Inc., the Globe and Mail reported on Wednesday, citing multiple sources. The details of Richmond, Virginia-based Altria’s investment are still being finalized, though it has expressed interest in buying a minority stake in Aphria with the intention of […] Read more