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CannTrust to resume cannabis sales in Alberta, British Columbia and Ontario

Cannabis producer CannTrust said it’s returning to the Canadian recreational marijuana market this month as the embattled company looks to open a new chapter more than a year after being censured for serious regulatory violations. The Vaughan, Ontario-based company plans to start by launching adult-use brands in December in three provinces, the company said in […]

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PharmaCielo gets new CEO after revenue collapses; Khiron reports loss

PharmaCielo and Khiron Life Sciences – Toronto-based companies with their main operations in Colombia – reported losses this week for the quarter ending in September. PharmaCielo reported revenue of only 25,913 Canadian dollars ($20,000) for the quarter, down 97% from the previous quarter and 80% compared to the same period one year ago. The company […]

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Zenabis selling cannabis facility for half original asking price

Vancouver, British Columbia-based Zenabis Global reached a conditional agreement for the sale of its facility in Delta, B.C., for what appears to be half the original listing price. The conditional deal comes as large Canadian marijuana producers look to unload indoor and greenhouse cultivation properties to reel in industrywide excess supply. The gross purchase price […]

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Aurora Cannabis shuts CA$250 million greenhouse ‘indefinitely’

Aurora Cannabis says it’s pausing operations at its Sun greenhouse in Medicine Hat, Alberta, “indefinitely.” The closure represents the latest casualty after the industry significantly overshot the production capacity needed to meet demand in Canada’s expanding adult-use marijuana market. Those greenhouse deals ultimately led to direct real estate losses for Canadian producers worth millions of dollars and write-downs […]

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Canadian cannabis firm Organigram reports CA$136M loss for year

New Brunswick-based cannabis producer Organigram reported a net loss of 136 million Canadian dollars ($105 million) for its fiscal year 2020, a substantial increase from the company’s previous annual loss of CA$9.5 million. Organigram lost CA$39 million in the quarter ended Aug. 31, an improvement compared with the CA$90 million loss it reported in the […]

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