Category Archives: Tilray

In wake of Namaste fiasco, Canadian cannabis firms urged to boost corporate governance

An expert in the cannabis industry is urging Canadian marijuana companies to improve corporate governance in the wake of a controversy involving Namaste Technologies and other “unicorn” firms. Toronto-based Namaste on Monday said it removed Sean Dollinger as chief executive officer and director and is commencing legal action against him after a special investigation. The company […]

Though a ‘positive step,’ WHO recommendations on cannabis fall short for some

The World Health Organization (WHO) made great strides in its recommendations on how cannabis should be scheduled, but the global industry believes there’s more work to be done. Martin Jelsma, drugs and democracy program director, at the Netherlands-based Transnational Institute, emphasized to Marijuana Business Daily that there are “very positive elements in the WHO recommendations,” including: Recognition […]

Legal cannabis could skim $55 billion per year from alcohol, tobacco firms

Global alcohol and tobacco companies could face losses of $55 billion a year if a fully legal cannabis industry develops in North America, a new report predicts, a key driver for why those sectors are taking early steps into the blooming marijuana market. “For these two industries in particular, a move into the cannabis business is […]

Canadian medical cannabis firm Tilray eyes global reach in deal with Novartis subsidiary

British Columbia-based Tilray reached an agreement with a subsidiary of Swiss pharmaceutical giant Novartis AG in which the Canadian firm’s medical marijuana will eventually be produced and distributed in countries where MMJ is legal. Tilray’s deal with Quebec-based Sandoz AG is an extension of a letter of intent the companies signed in March to produce co-branded, nonsmokable and noncombustible […]

Budweiser maker AB InBev teams with Tilray to research marijuana-infused drinks

. Two commercial giants from the worlds of beer and marijuana are teaming up to spend $100 million to research cannabis-infused beverages, the latest deal to pair a Canadian cannabis company with a major maker of alcoholic beverages. Belgium-based AB InBev (NYSE: BUD), which includes Budweiser in its huge portfolio of beer brands, is partnering […]

Aphria seeks EU GMP certification prior to closing deal for German distributor

Aphria, one of Canada’s largest medical cannabis companies, aims to obtain an essential European quality standard certification before closing its deal to buy a large distributor of pharmaceutical products in Germany. Aphria announced last week its intention to buy Densborn, Germany-based CC Pharma for 24.5 million euros ($28 million) in cash on closing and another […]

Cannabis company Tilray cuts ties with Namaste Technologies following pledge party

A reportedly racy shareholder pledge party hosted by Namaste Technologies last week has cost the Toronto firm its business ties with fast-growing cannabis producer Tilray. Officials with Tilray confirmed in an email to Marijuana Business Daily that it had “ended its relationship” with Namaste following a highly publicized “pledge party” the firm held for stockholders […]

Earnings highlights: Hedge fund billionaire Leon Cooperman bets on cannabis; two firms deliver solid Q2 results

Share prices at cannabis firms Green Thumb Industries and Tilray are on the rise after solid second-quarter performances – and mainstream investors are taking note, with at least one hedge fund billionaire throwing his support behind the industry. The two businesses reported their first earnings as newly public companies after the markets closed Tuesday. Here’s […]

How high is too high? Valuations continue to climb for Canadian cannabis businesses

As more cannabis companies go public and private businesses raise capital at an unprecedented clip, valuations have become a hot topic among industry observers, insiders and investors. That’s especially true in Canada, where a growing number of cannabis firms have fetched multibillion-dollar valuations in the public markets as they’ve hustled to become a top player […]