North American cannabis firms, facing prohibitive laws, an overcrowded market and a deeply entrenched illicit sector at home are ramping up investments in Germany after the country partly legalized marijuana use.
Tag Archives Cannabis
US, Canadian pot firms eye Germany for growth as market stagnates at home
Delta 9 files for creditor protection
The Winnipeg-based cannabis grower and retailer has faced financial headwinds
Winnipeg cannabis company Delta 9 files for creditor protection.
Hemp sector disappointed new report ignores deregulation
Leaders in Canada’s hemp industry were hoping an expert committee would recommend significant changes to hemp regulations so it could be treated the same as wheat, canola and other crops. That didn’t happen. Instead, the committee of experts reviewing the Cannabis Act barely mentioned hemp in its 91 page report published March 21.
Canopy Growth sheds California facility amid liquidity worries
Cannabis producer aims to rein in costs
Reuters — Canadian pot producer Canopy Growth said on Thursday it has completed the sale of its facility at Modesto, California as part of its divestitures to raise funding amid liquidity concerns. The sale, the fifth such deal since April 1, is part of Canopy’s ongoing efforts to improve liquidity by reining in costs through
Interest-free cash advances get extra lift in federal budget
Fertilizer diversification, solids non-fat processing also up for funding
Federal Finance Minister Chrystia Freeland’s latest budget envelope for Canadian farmers up against rising costs of production includes a temporary boost to the interest-free portion of cash advances. Freeland’s 2023 federal budget, released Tuesday, includes $13 million in 2023-24 for Agriculture and Agri-Food Canada to temporarily increase the interest-free limit for loans under its Advance
Pot producer Delta 9 announces cutback amid industry-wide struggle
The Cannabis Council of Canada is asking the federal government to ease the tax burden on producers
Manitoba cannabis giant Delta 9’s cost-cutting measures are symptomatic of financial struggles across the industry. The Winnipeg-based company recently announced it would lay off approximately 40 staff and reduce its cultivation capacity by about 40 per cent. The board and executive have also taken a pay cut, Delta 9 said in a Jan. 9 news release. “The cost savings
U.S. FDA reported weighing CBD regulation in food, supplements
Reuters — The U.S. Food and Drug Administration (FDA) is planning to make recommendations on how to regulate the use of popular cannabis compound CBD in food and supplements, the Wall Street Journal reported on Tuesday, citing agency officials. After weighing the evidence on the compound’s safety, the FDA will decide within months how to
Delta 9 has intent to distribute
Company charts course to be involved in all aspects of industry, starting with distribution license
Winnipeg-based Delta 9 has become the first licensed cannabis distributor in Manitoba. This authorizes the firm to act as a middleman in the pot trade, authorized to acquire, store, sell and deliver cannabis in accordance with the Liquor, Gaming and Cannabis Control Act (Manitoba). [RELATED] Pot producer Canopy Growth to shed retail stores The firm
Biden overhauling U.S. marijuana policy
Prior federal offenses to be pardoned; moves could ease U.S. business for cannabis firms
Washington | Reuters — U.S. President Joe Biden took steps to overhaul U.S. policy on marijuana on Thursday by pardoning thousands of people with federal offenses for simple marijuana possession — and initiating a review of how the drug is classified. Biden said thousands of people with prior federal convictions could be denied employment, housing
Pot producer Canopy Growth to shed retail stores
Company working on 'path to profitability'
In full cost-cutting mode, Canadian cannabis producer Canopy Growth Corp. is set to shed a significant chunk of its vertical integration model by selling off the retail pot shops it owns across the country. Smiths Falls, Ont.-based Canopy announced Sept. 27 it has an agreement in place with OEG Retail Cannabis — already the owner/operators
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