GFM Network News


(CNW Group/Sugarleaf photo)

Canopy Growth to buy rival Supreme Cannabis

Deal comes as pot demand lights up

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

Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)

Pot producer Canopy Growth sees profit in 2022

Costs cut, revenue increasing

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


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)

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

Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)

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


(Creative-Family/iStock/Getty Images)

Cannabis-infused drinks fizzle on production, distribution challenges

'Actually executing the idea is much more difficult'

Reading Time: 3 minutes Reuters — Investors pinning hopes on cannabis-infused drinks to propel growth of the legal marijuana industry may have to wait a bit longer, as companies struggle to produce and distribute the highly-sought beverages in a profitable way. Nearly 11 months after regulators allowed their sales, very few brands have been able to reach shelves. Canada […] Read more

Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)

Canopy Growth to close Saskatchewan pot plant

Ontario company stepping out of other international plays

Reading Time: 2 minutes A major indoor cannabis grow site at Yorkton, Sask. is the latest casualty as pot producer/retailer Canopy Growth adjusts its worldwide footprint. Smiths Falls, Ont.-based Canopy Growth, whose cannabis brands include Tweed, Tokyo Smoke, Van der Pop and Spectrum Therapeutics, announced Thursday it will shut down its Tweed Grasslands production facility at Yorkton to “further […] Read more


A worker pushes a cart of marijuana plants at the Canopy Growth facility at Smiths Falls, Ont. on Jan. 4, 2018. (File photo: Reuters/Chris Wattie)

Canopy Growth to shut two B.C. greenhouses, cut 500 jobs

Niagara greenhouse plans also shelved

Reading Time: < 1 minute Reuters — Pot producer Canopy Growth Corp. said on Wednesday it plans to close two of its greenhouses in Aldergrove and Delta, B.C., cutting about 500 positions. The company also said it no longer plans to open a third greenhouse in Niagara-on-the-Lake, Ont. Canopy had said last month it aims to focus on reducing costs, […] Read more

(CanopyGrowth.com)

Canopy Growth may face challenges offloading assets, CEO says

Reading Time: 2 minutes Reuters — Canada’s biggest cannabis producer, Canopy Growth Corp., could face challenges offloading assets as it seeks to winnow its facilities down to focus on its most lucrative markets and products, its CEO told Reuters. The company, which reported a smaller-than-expected third-quarter loss on Friday, is conducting a “thorough strategic review” of its production facilities […] Read more


A worker pushes a cart of marijuana plants at the Canopy Growth facility at Smiths Falls, Ont. on Jan. 4, 2018. (File photo: Reuters/Chris Wattie)

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

Manitoba’s Liquor, Gaming and Cannabis Authority (LGCA) has been running billboards such as this one in Winnipeg to educate the public ahead of edibles’ entry to the recreational market. (Dave Bedard photo)

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