Reading Time: 2 minutes Ottawa | Reuters — Canada on Thursday launched a review of the country’s legalization of recreational cannabis use four years ago to evaluate its impact on youth, Indigenous minorities and others, and analyze its effect on the economy and the illegal marijuana market. Canada became the first developed nation to legalize use of recreational marijuana […] Read more
Canada to review impact of cannabis legalization four years on
Review will also look at regulatory challenges in pot sector
Canopy eyes U.S. expansion via weed gummies maker
Ontario firm to pay US$297.5 million for Wana Brands
Reading Time: 2 minutes Reuters — Canada’s Canopy Growth Corp. said on Thursday it would buy weed gummies maker Wana Brands for US$297.5 million, as the world’s biggest pot producer looks to expand in the U.S. cannabis market. Demand for pot edibles such as gummies has risen during the pandemic, as people stuck at home turn to cannabis-related products […] Read more
Pot producer Jushi acquires U.S. retailer in cheaper deal
Lack of movement on legalization drops valuations
Reading Time: < 1 minute Reuters — Cannabis producer Jushi Holdings acquired Massachusetts-based retailer Nature’s Remedy at a cheaper price than initially offered, as valuation of weed companies across North America has dramatically dropped lately. The decline in valuations over the last few months has been largely due to a lack of progress on anticipated federal marijuana reforms in the […] Read more
Pot producer TerrAscend to buy U.S. rival Gage Growth
Company to pay US$545 million
Reading Time: < 1 minute Reuters — Cannabis producer and processor TerrAscend will buy Michigan-based rival Gage Growth Corp., backed by prominent cannabis investor Jason Wild, for around US$545 million, the pot producer said on Wednesday. Dealmaking in the U.S. cannabis industry has heated up this year as companies bank on Democrats’ promises to reform marijuana laws and potentially legalize […] Read more
U.S. Senate Democrats roll out draft bill to legalize weed
Reading Time: 2 minutes Reuters — Three top U.S. Democratic senators on Wednesday unveiled a discussion draft of a bill that aims to legalize cannabis, a move that would allow adult Americans to buy and possess up to 10 ounces of marijuana without facing criminal penalties. The Cannabis Administration and Opportunity Act floated by Senate majority leader Chuck Schumer, […] Read more
Canadian cannabis retailers poised to merge
High Tide, Meta Growth to create biggest weed retailer
Reading Time: 2 minutes Two major Canadian cannabis sellers are poised to create the largest pot retailer in the country by revenue. Calgary retailer High Tide Inc., which operates the Canna Cabana chain of stores in three provinces, announced a merger deal Friday to take up Toronto-based Meta Growth Corp., which runs the Meta Cannabis and NewLeaf Cannabis chains. […] 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
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
A message from April Stewart, Country Guide's Associate Editor
