A Michigan circuit court has appointed a receiver for the assets of PharmaCo, a property of Canada-based cannabis multistate operator Red White & Bloom Brands. PharmaCo, which was acquired in February 2022 by Red White & Bloom subsidiary RWB Michigan, has operated licensed medical and adult-use marijuana stores and conducted limited cultivation in Michigan. Circuit […]
One of the oldest medical cannabis companies in the world is returning to Canada after exiting that market five years ago. Based in Veendam, Netherlands, Bedrocan International was founded in 1984 as an agricultural production company. Bedrocan got into cannabis seed development in 1992; a decade later, it received its first medical marijuana cultivation license […]
SNDL’s board gave the Canadian cannabis and alcohol company the green light to repurchase up to 100 million Canadian dollars ($70.9 million) of its outstanding common shares. The share-repurchase program authorizes the Calgary, Alberta-headquartered company to repurchase a maximum of 13.2 shares, or about 5% of the issued and outstanding shares, according to a Thursday […]
Aphria RX, a subsidiary of Tilray Brands, launched the first commercial medical cannabis flower grown at its facility in Neumünster, Germany. The launch marks the first medical marijuana products that Aphria RX has grown under the MMJ cultivation license the company received in July under Germany’s Medicinal Cannabis Act (MedCanG), according to a Thursday news […]
High Tide, a Calgary, Alberta-based cannabis retail chain, drew the final 5 million Canadian dollars ($3.6 million) of a CA$15 million debt facility. The Canadian retailer drew the first CA$10 million tranche on July 31 and announced it Aug. 2. According to a Wednesday news release, High Tide will use the additional $5 million to: […]
After failed efforts to find a deal to restructure its debts, cannabis multistate operator Slang Worldwide is entering receivership to dispose of its Colorado assets and filing for bankruptcy in Canada. Toronto-based Slang said in a news release it might also sell the assets of its Vermont subsidiaries. According to the release, Slang decided to […]
The government of Ontario, Canada, pledged $31 million to an agency responsible for fighting the illicit cannabis market in the province. The $31 million investment for the Provincial Joint Forces Cannabis Enforcement Teams (PJFCET) would be made over three years, the news outlet StratCann reported, citing Ontario’s 2024 budget papers. The government said the money […]
Canadian cannabis operator Canopy Growth Corp. made an early payment to reduce a loan term by $100 million (roughly 138.5 million Canadian dollars). The prepayment enables Canopy Growth to reduce its debt at a discounted price of $97.5 million and results in annualized interest savings of about $14 million, according to a news release. The […]
Cannabis sales in Ontario, Canada, surged during the first half of the year, with licensed retailers selling 21% more marijuana by volume than they did during the same period last year. According to a report from the Ontario Cannabis Store (OCS), the government-owned marijuana wholesaler shipped 50.2 million units of regulated products to retailers in […]
San Diego-based marijuana operator StateHouse Holdings has entered bankruptcy in Canada after its main lender asked that the company be placed in a receivership. The move comes after Pelorus Fund REIT, a private mortgage real estate investment trust and StateHouse’s largest lender, asked a California court in September to place StateHouse in receivership after the […]
