GFM Network News


Ontario drops weed from essentials list

Officials call for further intervention

Reading Time: < 1 minute Reuters — Ontario’s government on Friday removed cannabis from a list of essential businesses allowed to operate during the lockdown, as part of its efforts to further restrict contact amid a deepening coronavirus crisis. The move comes after health officials projected 80,000 COVID-19 coronavirus cases and about 1,600 deaths by month end under current policies, […] Read more

As customers hoard pot brownies, weed firms see lockdown boost

Reading Time: 2 minutes Reuters — Cannabis sales are touching new highs as customers across the U.S. and Canada stockpile weed to prepare for long spells of isolation because of the coronavirus pandemic. Between March 16 and 22, sales of recreational cannabis across California, Colorado, Oregon and Alaska — some of the key U.S. markets — were up 50 […] Read more


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

More pain in store for Canadian marijuana companies

Aurora Cannabis, Tilray cut jobs

Reading Time: 2 minutes Toronto | Reuters — Investors are bracing for more job cuts and writedowns at Canadian cannabis producers before the industry stabilizes and becomes profitable, after two of the biggest weed companies, Aurora Cannabis and Tilray announced cost reductions this week. Canada legalized recreational cannabis in October 2018 but profits have proven elusive for most marijuana […] Read more


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

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


As ‘Cannabis 2.0’ kicks off, industry strangled by limited retail outlets

Reading Time: 3 minutes Reuters — A year after Canada legalized use of recreational marijuana, cannabis stocks have lost half their market value, and investors betting that the launch of higher-margin pot-infused drinks and other products will quickly lift shares may be in for a bumpy ride. So-called cannabis 2.0 — legalization of marijuana derivatives including edibles, beverages, extracts […] Read more



Vape product concerns weigh on cannabis companies

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

Pot producer CannTrust’s federal license suspended

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