December 29, 2024
Creditor protection, bankruptcies, and acquisitions in 2024
As the Canadian cannabis industry continued to weather financial headwinds in 2024, numerous companies found themselves entering creditor protection, closing up shop, or selling off…
MediPharm plans to sell ABcann facility to Kensana Health in cash deal
Kensana Health has agreed to acquire all of the issued and outstanding shares in the capital of ABcann from the company’s operating subsidiary MediPharm Labs…
Galaxie Brands exits CCAA, announces major new partnerships and strategic growth
Galaxie Brands announces its successful conclusion to the CCAA process, new partnerships and strategic plans.
Court rejects Final Bell’s equity claims against BZAM monitor, again extends stay of proceedings
A judge approved a motion to extend the stay of proceedings between Final Bell and BZAM, and has been again postponed, this time to January…
Nova Scotia sells $32.6 million worth of cannabis in Q2 2024
The Nova Scotia Liquor Corporation (NSLC) saw $32.6 million in cannabis sales in the three months ended September 29, 2024 (Q2 2024), a 3.9% increase…
High Tide expands Cabana Club to an international market
High Tide Inc. is expanding its Cabana Club membership program across the entirety of the United States, the European Union, and the United Kingdom.
Tokyo Smoke emerges from creditor protection with around 57 “go-forward” store locations
Retail chain Tokyo Smoke completed its restructuring process and exited from CCAA protection following final approval from the Ontario Superior Court of Justice.
Entourage Health sees increased revenue from bulk sales and new value-focussed brand
Entourage Health Corp. reported a net loss and comprehensive loss of nearly $8.4 million from $13.6 million in revenue and $9.5 million in net revenue…
Ayurcann reports record sales growth, but continued loss in Q1 2025
Ayurcann Holdings Corp. reported a net loss of $356,711 from $14.8 million in gross revenue and $8.3 million in net revenue for Q1 2025.
CanadaBis Capital reports decline in net income
CanadaBis Capital Inc. reported a positive net income of $600,285 for the year ended July 31, 2024, from consolidated gross revenue of $30.4 million.
MTL Cannabis reports record Q2 2024 revenue
MTL Cannabis Corp brought in $1.3 million in net income from $26.4 million in total revenue for the three months ended September 30, 2024 (Q2…
The Good Shroom reports net profits of $40,000 for 2024
The Good Shroom Co. Inc., cannabis and cannabis-infused products for the Canadian market, reported $3.9 million in net revenue in the year ended July 31,…
Year-over-year increase in both net revenue, loss for Greenway in Q2 2025
The Greenway Greenhouse Cannabis Corporation reported $1.8 million in gross and net revenue of $1.8 million in Q2 2025 but an operating loss of $770,347…
Cannara Biotech reports net income of $5 million in Q4 2024
Cannara Biotech Inc. brought in $22.1 million in net revenue from its cannabis operations in the three months ended August 31, 2024 (Q4 2024), and…
The Hash Co completes asset transfer, name change
Following an announcement in May, the company formerly known as The Hash Co. has now sold most of its assets to a number company (1000592191…
Simply Solventless reports another profitable quarter as sales continue to increase
Simply Solventless Concentrates, Ltd. brought in net revenue of nearly $5 million for the three months ended September 30, 2024 (Q3 2024).
Decibel: Q3 2024 marks shift in focus from domestic to international market
Decibel Cannabis Company Inc. brought in $24.1 million in net revenue for the three months ended September 30, 2024
Quebec cannabis business facing excise challenges
Quebec cannabis business QcGoldtech, connected to former Montreal police chief Yvan Delorme, owes more than half a million dollars in unpaid taxes, reports The Montreal…
Herbal Dispatch sees year-over-year growth driven by increased domestic sales, exports
Herbal Dispatch brought in $3.3 million in gross revenue and $2.7 in net revenue for the three months ended September 30, 2024 (Q3 2024), for…
Alberta sold $673.5 million worth of cannabis in 2023-2024
The AGLC brought in $63.9 million in net revenue from $673.5 million worth of cannabis sold in the province for the year ended on March…
Noya Holdings seeking approval of $3.8 million stalking horse deal, extension of stay of proceedings
Following filing for creditor protection earlier this month, Noya Holdings Inc. and Noya Cannabis Inc. are seeking approval of a stalking horse deal for approximately…
Avicanna reports $6.3 million in net revenue and decreasing losses in Q3 2024
Avicanna Inc. reported net revenues of $6.3 million at the end of Q3 2024, with a comprehensive loss of $922,077, down from a loss of…
Delta 9 selects bid from SISP
Delta 9 Bio-Tech has selected a bid for the purchase of some of its assets through the SISP process that began earlier this year.
SQDC records record profits as consumer demand shifts to lower-margin products
The Société québécoise du cannabis (SQDC) recorded a new record for net revenue in its second quarterly report for the 2024-2025 fiscal year.
Medipharm Labs reports increased revenue, decreased losses in Q3 2024
Medipharm Labs brought in $9.8 million in net revenue in the three months ended September 30, 2024 (Q3 2024) and $3.1 in gross profit, but…
Record net revenue for Rubicon Organics despite softened demand and price compression in key markets
Rubicon Organics brought in $13.5 million in net revenue in Q3 2024, the three months ended September 30, 2024, its highest ten revenue in eight…
Cronos reports increased cannabis sales in Canada, abroad
The Cronos Group reported USD$34.3M in net revenue, $3.6M in gross profit, and $7.3M in net income in its third quarter 2024 report for the…
Noya Holdings Inc. and Noya Cannabis Inc. apply for creditor protection
Noya Holdings Inc. and Noya Cannabis Inc. have applied for creditor protection in an initial order posted on November 6, 2024. Noya’s monitor in the…
Auxly reports record-breaking Q3 results
Auxly Cannabis Group Inc. reported $33.3 million in net revenue in its third quarter of 2024, a new company record and an increase of 18%…
Canadian cannabis sales down, international sales up for Canopy in Q2 2025
Canopy Growth Corporation reported nearly $74 million in revenue in its second fiscal quarter of 2025, but a net loss of $128.3 million.
Cannabis exports increase for Village Farms in Q3 2024
Village Farms International sold USD$36.5 million worth of cannabis in Canada in the third quarter of 2024, $9.6 million in gross profit, and $1.2 million…
International sales increase for Aurora Cannabis, but company reports $13 million loss in Q2 2025
Aurora Cannabis brought in $81.1 million in net revenue in the three months ending September 30, 2024, but reported a net loss of nearly $13…
SNDL posts $3.8 million in adjusted operating income from its cannabis businesses in Q3 2024
SNDL posted $236.9 million in revenue in the third quarter of 2024, with an $18.5 million loss.
BC wholesales nearly 40,000 kg of cannabis in Q2 2024, while direct delivery sees big declines
BC’s LDB sold nearly forty thousand kilograms of legal cannabis in Q2 2024 (July, August, and September), for a wholesale total of $147.2 million, a…
New Brunswick sold nearly $27 million worth of weed in the second quarter of 2024
Cannabis retailers in New Brunswick sold nearly $27 million worth of cannabis in the three months ended September 29, 2024.
Court weighs in on cannabis company’s stock valuation
An Alberta court had to weigh in on a dispute regarding share price between a Canadian cannabis company and the company’s former Chief Operating Officer.
Ayurcann sees record annual growth as its reach expands across Canada
Ayurcann brought in $25.1 million in net revenue for the fiscal year ended June 30, 2024, up from $12.5 million the year prior, an increase…
New Brunswickers prefer convenient cannabis products
According to a new annual report from Cannabis NB, New Brunswickers prefer more “convenient” cannabis products as the market continues to shift to products like…
Manitoba brings in almost $40 million in revenue from cannabis sales in 2023-2024
Manitoba sold $153.6 million worth of cannabis in the fiscal year ended March 31, 2024, bringing in $39.5 million in net revenue for the province.
Cannabis sales up 24% in Newfoundland and Labrador from last year
There was $87.6 million worth of cannabis sold in Newfoundland and Labrador in the 2023-2024 fiscal year, a nearly 24% increase from the previous year.
PEI sold nearly $25 million worth of cannabis in 2023-2024
PEI Cannabis sold $24,966,165 worth of cannabis in the year ended March 31, 2024, a total of 5,074 kilograms of weed.
Preliminary approval of US$8 million settlement in Aurora Cannabis investor lawsuit
Aurora Cannabis could end up paying more than $8 million (US) to put to rest allegations that it inflated its stock price in order to…
Q3 2024 net revenue sets record for Avant Brands, but reports $2.5 million loss
Avant Brands generated $9.6 million in gross revenue and $8.5 million in net revenue in Q3 2024, but reported a net loss of $2.5 million…
Tilray’s adult-use cannabis and international revenue down year-over-year
Tilray brought in $200 million in net revenue and gross profit of $59.7 million in the first quarter of 2025, but still saw a net…
Court approves RVO for Atlas Global Brands against CRA’s objections
Following the granting of creditor protection earlier this year, a court approved a reverse vesting order (RVO) on October 7 for Atlas Global Brands, a…
Freedom Cannabis seeks more time to resolve lease dispute
Freedom Cannabis says it needs more time to finalize the terms of its Sales Investment and Solicitation Process (SISP) and Stalking Horse Agreement to resolve…
Four20 Premium Markets’s NOI proceedings continued
Four20 Premium Markets had its Notice of Intent (NOI) proceedings continued under the CCAA on September 19.
Tokyo Smoke begins Stalking Horse sale process
Tokyo Smoke has now entered into a share subscription agreement with its parent company, pursuant to which the parent company, TS Investments Corp., will acquire…
High Tide reports second consecutive quarter of net income
High Tide reported $825,000 in net income from $35.5 million in gross profit and $131.7 million in revenue in the three months ended July 31,…
MTL’s Q1 2025 report shows continued increases in revenues and profits
MTL Cannabis saw increasing revenues and profits in its most recent quarterly report, with $2.2 million in net and comprehensive income in the three months…
Heritage Cannabis announces completion of sale to Hab Cann
Heritage Cannabis Holdings Corp. announced on August 29 the completion of the company’s sale to a stalking horse bidder called HAB Cann Holdings Ltd.
Nextleaf reports increased revenues, losses in Q3 2024 report
Nextleaf Solutions brought in over $4 million in revenue in its most recent quarterly report for the three months ending June 30, 2024, with $884,344…
Greenway reports increasing revenue, declining losses
Greenway Greenhouse Cannabis Corporation reported net revenue of nearly $2.4 million in the first quarter of 2025 ended June 30, 2024, and a $541,478 loss…
Entourage focuses on expansion despite market challenges: Q2 2024
Entourage Health Corp. reported net revenue of $9.3 million, before excise duties and discounts, but a loss of $10.3 million in its Q2 filing for…
Cannabis sales continue to increase in Nova Scotia
Nova Scotia brought in $31.2 million in cannabis sales in the three months ended June 30, 2024, a 7.3% increase compared to the previous year…
Auxly reports profitable quarter as it consolidated operations, products
Auxly reported $43.4 million in net revenues from cannabis sales in the three months ended June 30, 2024, and net income of $2 million in…
Lower demand, overall economy blamed for second quarter of Rubicon losses
Rubicon Organics Inc. reported $12.1 million in net revenue in the three months ended June 30, 2024, but a loss of $454,164 in its Q2…
Simply Solventless reports another profitable quarter
Simply Solventless Concentrates reported net revenue of $1.2 million from net revenue of $2.9 million in the three months ended June 30 in the company’s…
Decibel Cannabis Company posts positive net income, decline in international sales
In the three months ended June 30, 2024, Decibel Cannabis reported $22.1 million in net revenue and $122,000 in net income.
Increased gross profits, decreased losses in MediPharm’s Q2 2024 report
MediPharm Labs posted a gross profit of $3.4 million in the three months ended June 30, 2024, but a net loss of $2.6 million.
SNDL acquires the rest of Nova Cannabis
SNDL Inc. announced on August 13 that it will acquire all of Nova Cannabis’s issued and outstanding common shares for approximately $40 million.
Organigram reports first net income in several quarters
New Brunswick’s Organigram reported net revenue of $41.1 million for the third quarter of 2024 and net income of $2.8 million, compared to a loss…
Freedom Cannabis receives creditor protection to pursue restructuring and sales process
Freedom Cannabis Inc. announced that it and its subsidiaries sought and received an order for creditor protection from the Alberta Superior Court of Justice pursuant…
Canopy reports increased gross profits and loss in Q1 2025
Canopy Growth Corporation reported $23 million in gross profit in Q1 2025, a 67% increase from Q1 2024, but also posted a $127 million loss.
Increased Canadian cannabis sales for Village Farms in Q2 2024
Village Farms International, Inc. brought in USD$40.7 million in cannabis sales in Canada in the second quarter of 2024, $10.7 million in gross profit, and…
Net revenue, net loss up for Cronos in Q2 2024
Cronos brought in its highest quarterly net revenue yet at USD$27.8 million in the second quarter of 2024 but still reported a net loss of…
Aurora Cannabis shows increase in net revenue, finally reports net income
Aurora Cannabis reported an increase in net revenue and net income in the three months ending July 30, 2024, driven by increased exports, domestic medical…
Christina Lake Cannabis reports increasing losses in Q1, Q2 2024
Christina Lake Cannabis reported a loss and comprehensive loss of nearly $1.6 million from $3.3 million in sales in the three month period ended May…
SNDL releases Q2 2024 results
SNDL Inc. brought in $228.1 million in net revenue in the second quarter of 2024, a gross profit of $58.1 million, and a $4.6 million…
Record revenue in Q2 2024 for Nova Cannabis
Nova Cannabis Inc. has released its interim consolidated financial statements and management’s discussion and analysis for the three and six months ended June 30, 2024.
Decrease in net revenue, increase in losses for Greenway Cannabis in annual report
Greenway Cannabis reported a $4.7 million loss from $5.2 million in net revenue for the year ending March 31, 2024.
MTL Cannabis reports $2.5 million in net income in 2023-2024
MTL Cannabis Corp. brought in $2.5 million in net income from $83 million in net revenue for its fiscal year ending March 31, 2024.
Tilray reports year-over-year increase in revenue, decrease in losses in Q4 2024
In its quarterly report covering the three months ending May 31, 2024, Tilray reports a net revenue of USD$229.9 million and gross profit of almost…
Cannara Biotech reports strong Q3 2024 results
Cannara Biotech Inc. announced its fiscal third quarter 2024 financial and operating results for the three and nine-month periods ended May 31, 2024, with $19.5…
Avant posts increase in net revenue, driven by exports and rec sales
Avant Brands (formerly GTEC Holdings) reported net revenue of $16.4 million for the first half of 2024, producing 6,417 kg of cannabis and selling 5,493…
CanadaBis continues trend of profitability with focus on pre-rolls and extracts
CanadaBis Capital Inc, the parent company of cannabis brands like Stigma Grow, reported its third quarter fiscal 2024 results, with $2.2 million in gross profits…
Nova Scotia sold $121 million worth of cannabis in 2023
The Nova Scotia Liquor Corporation (NSLC) released their most recent year-end financial report on June 25 covering April 1, 2023-March 31, 2024.
Atlas Global Brands granted CCAA protection
Atlas Global Brands, the company behind cannabis brands like D*gg Lbs, GreenSeal and Electric Lettuce, along with its subsidiaries, have been granted an initial order…
Aurora quarterly report shows increase in net revenue, decrease in losses
Aurora Cannabis reported $67.4 million in net revenue for the three months ending March 31, 2024, but a $20.8 million net loss.
Christina Lake Cannabis files year-end report for 2023
After some delays, BC’s Christina Lake Cannabis (CLC) recently released its financial statements for the year ending November 30, 2023.
High Tide reports increase in retail footprint, revenue
High Tide Inc. reports a 5% year-over-year increase in revenue and a 175% year-over-year increase in revenue in its most recent quarterly report.
Retail chain Four20 files NOI under Bankruptcy and Insolvency Act
The parent companies of cannabis retail chain Four20 Premium Markets filed a notice of intent to make a proposal under the Bankruptcy and Insolvency Act…
AgriCann continues to struggle
AgriCann Solutions Corp. remains under a “Cease Trade Order” (“CTO”) issued by the BC Securities Commission.
Canopy’s net revenue increased 7%, but concerns about operations remain
Canopy Growth Corporation reports $72.8 million in net revenue in Q4 2024 and a net loss from continuing operations in fiscal 2024 of $483.7 million…
Decibel reports net loss, declining revenue in new quarterly report
Decibel Cannabis Company Inc. reported declining revenue and increased losses in its first three months of 2024 due to increased competition and lower exports.
Nextleaf Solutions reports $1 million loss in first three months of 2024
Cannabis processor Nextleaf Solutions reported revenue of $4.6 million but a loss of just over $1 million in the first three months of 2024.
Simply Solventless reports seventh consecutive quarter of positive EBITDA
Simply Solventless Concentrates generated $502,536 in net revenue in Q1 of 2024 from its cannabis brands.
Indiva reports strong edibles sales, net loss of $1.8 million in Q1 2024
Indiva reported a net loss of $1.8 million from $9.3 million in net revenue in the first three months of 2024, as the Ontario producer…
Rubicon Organics reports Q1 loss after strong 2023
Rubicon Organics Inc. brought in nearly $9 million in net revenue in the first three months of 2024 while reporting a $1.7 million loss on…
Delta 9 reports net income loss of nearly $5 million in first three months of 2024
Delta 9 Cannabis Inc. brought in $16.5 million in net revenue in the three months ending March 31, 2024, from its retail and wholesale cannabis…
MediPharm Labs reports continued growth in Canadian, international markets
MediPharm Labs Corp. reported a 67% increase in revenue in the first three months of 2024 compared to the same period in 2022 but still…
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