Category Archives: International Marijuana Business News

Marijuana firm Cresco Labs posts $3.9 million net income in third quarter

Chicago-based Cresco Labs posted $3.9 million in net income in its fiscal third quarter, reversing its year-ago loss of $200,000. The multistate cannabis operator saw revenues spike 335% in the quarter to $12.2 million compared to the same period in 2017. Year-to-date revenue was up nearly 250% to $25.1 million. Since the beginning of the year, […]

Cannabis shortages plague Canadian retailers; here’s how they’re responding

As the Canadian cannabis industry struggles to provide enough supply to meet exuberant demand since recreational use became legal, private retailers are faced with their own challenge: how to stay in business. Many store owners in Alberta, Manitoba and Newfoundland have closed their doors as they await marijuana shipments, while others are considering different courses […]

‘It’s a game changer’: Ontario company prepares Canada’s first outdoor cannabis crop

Ontario-based 48North is laying the groundwork for what would be Canada’s first large-scale outdoor marijuana crop under the Cannabis Act this spring, pending required permits from Health Canada. “With Health Canada’s permission and approval, we’ll be doing a very large outdoor grow for 2019,” co-CEO Jeannette VanderMarel told Marijuana Business Daily. “I’m hoping it’s in […]

‘Christmas is coming early’: Canada’s draft rules for marijuana edibles expected in coming weeks

Hotly anticipated draft regulations to allow legal sales of cannabis edibles and concentrates in Canada are expected to be released before Christmas, according to sources, paving the way for a new wave of businesses and entrepreneurs aiming to capitalize on the country’s recreational marijuana industry. Edibles sales will begin next year, opening a potentially huge […]

Cannabis applications in Malta await guidelines from government

While the cannabis industry is getting broad support from the government of Malta, the business application process still awaits guidelines from a key government agency. Several companies have obtained letters of intent (LOI) from Malta Enterprise – the first step in applying for permits – but no company has yet been fully licensed to cultivate […]

Smooth ride expected for Mexico’s cannabis legislation, experts say

Mexico’s move to legalize medical and recreational marijuana could create a market “at least three times larger” than Colombia’s, according to industry executives and analysts, who do not expect the proposed law to see significant resistance from lawmakers. Olga Sanchez Cordero, who will serve as interior minister in the incoming president’s cabinet, last week filed […]

Turmoil at Canadian cannabis producer after license revoked

The senior leadership of a British Columbia marijuana company abruptly resigned after Health Canada said it planned to revoke the production and dealer licenses of its subsidiary over “unauthorized activities with cannabis.” Ascent Industries announced the departure of CEO Philip Campbell, Chief Operating Officer Reid Parrand and President James Poelzer last week in a news […]

Marijuana firm MedMen scales back financing, appoints interim CFO

MedMen Enterprises is slashing its latest funding round as the firm’s stock tumbles and the California cannabis company hunts for a new chief financial officer. The multistate cannabis firm revealed Friday that CFO James Parker resigned. The company appointed Jim Miller, vice president of accounting, as interim CFO while the firm searches for a replacement […]

Exec: Aurora Cannabis to expand in US ‘moment it becomes allowable’

Canada’s leading medical cannabis company by revenue is ready to expand into the United States “the moment it becomes allowable,” one of its executives said at MJBizCon in Las Vegas. Marc Lakmaaker, vice president of Alberta-based Aurora Cannabis, discussed the multinational cannabis producer’s plan to enter the world’s largest economy when relevant laws allow it […]

Leading US marijuana firms list shares on Canadian stock exchange

Three top American cannabis firms made their trading debuts on the Canadian Securities Exchange (CSE) this week, continuing the frenzy of U.S.-based marijuana companies turning to Canada’s public markets to raise capital. Here’s a quick rundown of what investors need to know: Multistate cannabis operator Acreage Holdings listed its shares under the ticker symbol ACRG.U after […]