GFM Network News


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

Constellation tightens grip on Canopy with CEO appointment

Reading Time: 2 minutes Reuters — Constellation Brands finance head David Klein will take over in January as CEO of pot producer Canopy Growth Corp., hardening up the Corona beer maker’s control of a company into which it has sunk US$4 billion. Klein was appointed Canopy chairman in October after Constellation booked a $430 million net loss related to […] Read more


Pot producer Canopy Growth to stop expanding in Canada

Reading Time: 2 minutes Reuters — Canopy Growth Corp. on Thursday reported a wider-than-expected quarterly loss on soaring expenses and said it would not make any large investments to expand in Canada amid surplus supply and tepid demand for weed and weed products. The decision to hold expansion plans follows a wave of enthusiastic spending by marijuana companies to […] Read more

Cannabis firm Tilray sees growth slowing

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


Canopy Growth Q4 revenue beats as cannabis sales soar

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

Cannabis tax revenue below projections in early months

Reading Time: < 1 minute Ottawa | Reuters — Canada’s federal and provincial governments earned $186 million in tax revenues from direct sales of cannabis in the first 5-1/2 months of legalization, Statistics Canada data showed on Wednesday, after two major provinces cut their revenue forecasts. Statistics Canada found Ottawa collected a combined $55 million in revenue via federal excise […] Read more


Pot firm Canopy’s loss widens as spending surges

Reading Time: 2 minutes Reuters — Canadian cannabis producer Canopy Growth posted a bigger-than-expected quarterly net loss on Wednesday as it ramped up spending in the run up to the legalization of recreational use of pot in mid-October, sending its shares down nine per cent. Marijuana companies in Canada have been pouring cash into their businesses to both fend […] Read more

Sober start as recreational marijuana becomes legal in Canada

Reading Time: 4 minutes Toronto/Vancouver | Reuters — Canada became the first industrialized nation to legalize recreational cannabis on Wednesday, but a lawful buzz will be hard to come by in its biggest cities like Toronto and Vancouver, where stores are not yet open. The day was historic for the country as Canadian adults can now legally smoke recreational […] Read more


Regulator finds cannabis company disclosures inadequate

Reading Time: < 1 minute Toronto | Reuters — A Canadian regulatory group said on Wednesday that it had found that the level and quality of disclosure by cannabis companies was insufficient. The Canadian Securities Administrators (CSA), which conducted a review of disclosure practices of 70 Canadian and U.S. cannabis producers, said some companies were inconsistent in complying with Canadian […] Read more

Aurora Cannabis plans U.S. stock listing in October

Reading Time: < 1 minute Reuters — Canada’s Aurora Cannabis said Thursday it plans a U.S. listing of its shares in October, as it looks to cash in on strong investor appetite for marijuana producers. Interest has boomed in Canada’s marijuana companies ahead of legalization of recreational cannabis in the country next month. Several U.S. states have also legalized marijuana […] Read more