Canadian Cannabis Market: Page 15

DEA Takes Steps to Approve Cannabis Cultivation Applications, States Issue New Rules for Industry Amid COVID-19 Concerns: Week in Review

The Drug Enforcement Administration has issued a notice of proposed rulemaking to amend its regulations in an effort to approve pending applications for licenses that allow entities to grow cannabis for research purposes.

Canadian Cannabis Firms Brace for COVID-19, Potential Fallout

Canadian cannabis companies implement work-from-home protocols as an already tough capital market tightens up even more.

Alberta Cannabis Council Calls on Canadian Government to Provide Access to Relief Funds

As Canadian cannabis industry reels from limited access to investor funds, job losses and now the COVID-19 pandemic, federal disaster relief funds.

Cannabis Operators Excluded from SBA’s Disaster Assistance During COVID-19 Pandemic

Low-interest loans up to $2 million offered by the Small Business Administration amidst the coronavirus outbreak will not extend to state-legal cannabis businesses.

Canada’s Cannabis Industry Barred from Receiving Business Loans as Part of COVID-19 Relief Efforts

Ottawa has unveiled a plan to aid the economy as coronavirus continues to spread and forces businesses to close, but banks have refused to extend this assistance to the cannabis industry.

Canopy Growth and TerrAscend Canada Enter Debt Financing Arrangement

Canopy Growth is completing a C$80.5 million loan to TerrAscend Canada Inc.

Alberta Raises Excise Tax on Cannabis Vape Products to Nearly 45%

The Alberta Cannabis Council is speaking out against the increased tax, which Executive Director John Carle says will drive consumers back to an already thriving illicit market.

Harvest One Announces Sale of Non-Core Interest in Burb and Lillooet Property for Total Proceeds of $2.3 Million

Harvest One has sold its 19.9% equity stake in Burb back to the founders of Burb and has forgiven a shareholder loan.

Canopy Growth to Lay Off Roughly 500 Employees, Close Two Greenhouses, Halt Plans for Third Greenhouse

The company cited a slow adult-use market rollout and the timing of outdoor permitting as reasons behind the decisions.

Canada Health Department Forms Committee to Study Cannabis

The department is seeking nominations for the committee to research how cannabis and related products can be used without medical oversight.

Aurora Cannabis Announces CEO Retirement and Succession, Board of Directors Expansion, and Business Transformation Plan

Aurora Cannabis Founder and CEO Terry Booth has announced retirement, and Executive Chairman Michael Singer has been appointed as interim CEO, effective immediately.

Golden Leaf Holdings Pursues Legal Action Against BMF Washington and Its Owner

The plaintiffs assert two claims for breach of contract, arising out of the parties’ equipment leasing and intellectual property licensing agreements.

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