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Tag Archives Cannabis

File photo of medical cannabis in production. (FatCamera/iStock/Getty Images)
Crops, Reuters

Pot producer CannTrust to destroy $77M in plants, inventory

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Reading Time: < 1 minute Reuters — Canadian cannabis producer CannTrust Holdings said Monday it would destroy about $12 million worth of plants and about $65 million worth of inventory as part of a plan to regain full regulatory compliance. Health Canada canceled CannTrust’s license to produce and sell cannabis in September, months after it found the company was illegally […] Read more
(UrosPoteko/iStock/Getty Images)
Crops, Markets, Reuters

Short-sellers circle cannabis stocks as profits dwindle

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Reading Time: 2 minutes New York | Reuters — Wall Street’s love of cannabis appears to be going up in smoke as vaping-related ailments and missed revenue projections are prompting short sellers to raise their bets against the industry, fund managers and analysts said on Wednesday. Short interest in cannabis stocks, which reflects bets that prices will fall, has […] Read more
(CanopyGrowth.com)
Crops, Reuters

Vape product concerns weigh on cannabis companies

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Reading Time: 3 minutes Toronto | Reuters — A U.S. recommendation that consumers avoid vaping products containing the active ingredient in marijuana ahead of their legalization in Canada next month could be a blow to Canadian cannabis companies’ hopes that the higher-margin products will help propel them to profitability. The U.S. Centers for Disease Control and Prevention (CDC) said […] Read more
File photo of medical cannabis in production. (FatCamera/iStock/Getty Images)
Crops, Reuters

Pot producer CannTrust’s federal license suspended

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Reading Time: < 1 minute Reuters — Troubled Canadian pot grower CannTrust Holdings said Tuesday its license to produce and sell cannabis has been suspended by Health Canada. CannTrust had delayed its second-quarter results last month awaiting a decision from Canada’s health regulator on a large amount of inventory put on hold after discovery of illegal cultivation by the company. […] Read more
(CNW Group/Tilray)
Crops, Reuters

Cannabis firm Tilray sees growth slowing

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Reading Time: 2 minutes Reuters — Pot producer Tilray Inc. reported a wider-than-expected quarterly loss on Tuesday, as it ramped up investments to boost production and warned of muted growth in the Canadian recreational marijuana market for the second half of the year. Shares of the Nanaimo, B.C.-based company fell eight per cent after hours. Canada in October became […] Read more
(FireAndFlower.com)
Crops

Couche-Tard takes stake in cannabis retailer

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Reading Time: 2 minutes One of Canada’s biggest convenience store operators is moving ahead on its stated goal of getting into the retail cannabis business. Edmonton-based cannabis retailer Fire + Flower announced Wednesday it has issued a $25.99 million debenture, convertible to a 9.9 per cent ownership stake, to Quebec’s Alimentation Couche-Tard. The Laval-based firm said its planned investment […] Read more
The emerging sector, farm groups say, is posing a new challenge for traditional greenhouse growers. Photo: iStock/Getty Images
Reuters

Canadian greenhouse labor shortages worsened by growing cannabis producers

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Reading Time: 2 minutes Ottawa | Reuters – Canada’s labor-strapped greenhouse vegetable and flower growers are ramping up efforts to keep and recruit more workers in the face of pressure from the country’s budding cannabis industry, farm groups say. “Many of the cannabis producers are very cash rich. They’ve got the resources to pay a very good wage,” said […] Read more
Employees at the Fire and Flower store in Ottawa prepare an order for a customer as the first legal cannabis stores open in Ontario on April 1, 2019. (File photo: Reuters/Chris Wattie)
Crops, Markets, Reuters

Ontario’s slow rollout of weed outlets could help black market

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Reading Time: 2 minutes Toronto | Reuters — Ontario has blamed a shortage of legal cannabis from the federal government for its slow rollout of retail outlets, a claim dismissed by the federal government and regulatory bodies from other provinces, raising prospects the black market for weed may thrive longer in Canada’s most populous province. Canada became the first […] Read more
Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)
Crops, Reuters

Weed leader Canopy Growth ousts co-CEO

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Reading Time: 2 minutes Corrected, Aug. 27, 2019 — Reuters — Canopy Growth Corp. fired founder and co-CEO Bruce Linton, a surprise move that comes just a week after the Canadian cannabis producer’s largest shareholder expressed disappointment over its loss-making streak. The world’s largest pot company announced earlier in the day that Linton was stepping down, leaving Mark Zekulin […] Read more
Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)
Crops, Reuters

Canopy Growth Q4 revenue beats as cannabis sales soar

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Reading Time: < 1 minute Reuters — Pot producer Canopy Growth reported better-than-expected quarterly revenue on Thursday, as efforts to strengthen its retail operations paid off and increased production capacity resulted in higher sales following Canada’s legalization of recreational cannabis. Marijuana companies in Canada have been pouring cash into their businesses to open stores and expand operations as the list […] Read more

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