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Tag Archives Cannabis

(Hexo Corp video screengrab via YouTube)
Crops, Reuters

Hexo steps up cannabis M+A spree with Redecan deal

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Reading Time: < 1 minute Reuters — Hexo Corp said on Friday it would buy Redecan, a privately-owned Niagara-region cannabis producer, for $925 million in cash and stock, as the pot producer bolsters its portfolio to tap surging demand and position itself as a top recreational weed supplier. Cannabis demand surged last year as many people turned to pot during […] Read more
Flush farmers have a reputation for reinvesting in their operations, which has a positive impact on the economy. (Luca Piccini Basile/iStock/Getty Images)
General, Machinery, Markets

StatsCan shows 2020 farm income up significantly

Farm cash receipts were up more than expenses

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Reading Time: 4 minutes Canadian farm income, no matter how it’s measured, was up a lot in 2020, data released Wednesday by Statistics Canada show. Canadian net farm income of $18.1 billion is up $4.8 billion from 2019 — a 36.5 per cent increase. Another measure — realized net farm income (RNFI) — saw farmers take in $9.9 billion, […] Read more
(CNW Group/Sugarleaf photo)
Crops, Reuters

Canopy Growth to buy rival Supreme Cannabis

Deal comes as pot demand lights up

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Reading Time: 2 minutes Reuters — Canopy Growth Corp. said Thursday it will buy rival Supreme Cannabis for $323.3 million, as the world’s biggest cannabis producer bolsters its portfolio to tap surging demand. Shares of Canopy, up 15 per cent this year, fell around 4.6 per cent to $36 after it announced the cash-and-stock deal for Supreme, which owns […] Read more
(Solidcolours/iStock/Getty Images)
Crops, Reuters

BAT looks beyond tobacco to Canadian marijuana

Lucky Strike cigarette maker buys into Moncton's Organigram

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Reading Time: 2 minutes Reuters — British American Tobacco (BAT) said Thursday it will buy a nearly 20 per cent stake in New Brunswick-based cannabis producer Organigram for about 126 million pounds (C$221.3 million) as it seeks to expand beyond its main tobacco business. Organigram, headquartered at Moncton, grows cannabis and makes cannabis-derived products in the Canadian market, where […] Read more
(Fudio/iStock/Getty Images)
Crops, Reuters

Canada weighs tighter rules for grow-your-own pot producers

Spending on illicit pot still ahead of legal purchases

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Reading Time: 2 minutes Reuters — Canada on Monday launched a public consultation seeking to tighten rules for individuals who are allowed to grow their own medical cannabis, in an effort to clamp down on pot seeping into black markets. In a draft guidance issued for the consultation, Health Canada highlighted recent police raids and arrests at production sites […] Read more
(Thinkstock photo)
General, Markets

Farm cash receipts up in 2020

Crop receipts and direct payments up, livestock slightly lower

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Reading Time: < 1 minute MarketsFarm — New data from Statistics Canada on Tuesday showed Canadian farm cash receipts went up in 2020, despite the COVID-19 pandemic, on the strength of rising crop prices and exports. The total value of farm cash receipts in the country totalled $71.7 billion in 2020, an 8.1 per cent increase from the previous year. […] Read more
(Juanmonino/iStock/Getty Images)
Crops, Markets, Reuters

Cash-strapped pot producers raise billions in market rally

Cannabis firms seen as down in the weeds until recent surge

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Reading Time: 2 minutes Reuters — A political shift in the United States has unlocked an estimated US$1.38 billion jackpot for struggling pot producers who have cashed in on a surge in their shares since President Joe Biden’s election in November. Cannabis producers have issued stock worth this amount in the first five weeks of 2021, investment firm Viridian […] Read more
Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)
Crops, Reuters

Pot producer Canopy Growth sees profit in 2022

Costs cut, revenue increasing

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Reading Time: 1 minute Reuters — Canopy Growth Corp., the world’s largest pot producer, said on Tuesday it expects to turn a profit in the second half of 2022 after aggressive cost-cutting and higher demand for cannabis products helped narrow third-quarter losses. Canadian pot producers have been under pressure from investors seeking returns as profits remain elusive due to […] Read more
(Fudio/iStock/Getty Images)
Crops, Reuters

People growing too much pot at home, Health Canada warns

Pressure on to prevent abuse of home-grow program

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Reading Time: 2 minutes Reuters — Health Canada on Thursday raised concerns about the large quantity of medical marijuana people were growing at home, after its data showed a significant jump in daily average production permitted by health care practitioners. While the practitioners can allow registered patients to grow a limited amount at home for personal use, the regulator’s […] Read more
U.S. rapper B-Real (Cypress Hill, Prophets of Rage) has collaborated with Atlanta-based SweetWater Brewing on a variety of its ‘420’ brand of cannabis-scented beer. (Video screengrab from Sweetwaterbrew.com via YouTube)
Crops, Reuters

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

SweetWater's '420' beer would come to Canada

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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

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