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Cronos Cannabis Co. Will Provide $51M To GrowCo Toward Facility Expansion Fund

By Jelena Martinovic
June 20, 1:04 PM
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) announced on Thursday an expansion of Cronos Growing Company, a cannabis cultivation business that the Toronto-based company owns 50% of.The investment will be funded by a roughly $51 million (CA$70 million) secured non-revolving credit facility provided by Cronos. It will assist GrowCo's expansion of its purpose-built cannabis facility in Leamington, Ontario, that will produce high-quality cannabis flower, the company said in a press release., Under the four-year supply deal between Cronos and GrowCo and prior to the first sale of products from the newly constructed area, Cronos will have the option to buy roughly 80% of GrowCo's production. Once first sales from the newly constructed area occur, Cronos will have the option to purchase 70% of all GrowCo's supplies on an annual basis.

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Cannabinoids-Focused MediPharm Boasts This Advanced Medical Cannabis Delivery Method

By Jelena Martinovic
June 20, 12:15 PM
Cannabinoids-based pharmaceutical company MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) announced on Thursday that it has entered into a licensing agreement with Remidose Aerosols Inc. to acquire the exclusive rights for advanced cannabis products. Under the deal, current Remidose customers will be serviced through MediPharm starting August 2024, including Canadian direct-to-patient medical platforms and international medical distributors. MediPharm intends to utilize its existing GMP infrastructure, customer channels and wellness sales expertise to expand the customer base of these advanced products in Canada and internationally.

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3 minute read

Aurora Reports 20% YoY Uptick In Global Medical Marijuana, Expects Benefits From International Cannabis Regulatory Reforms

By Jelena Martinovic
June 20, 8:59 AM
Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) announced on Thursday its financial and operational results for the fourth quarter and fiscal year 2024.The company reported a 5% year-over-year increase in revenue to CA$67.4 million ($49.1 million) in the fourth quarter. Global medical cannabis net revenue grew by 20% over the same period to CA$45.6 million. The increase in net revenue1 of $7.7 million was primarily due to higher sales to Australia and Europe in the current period following the success of newly launched innovative cultivars in these markets. 

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Village Farms Cannabis Stock Down 23%: Are Lower Costs And Increasing Sales A Signal For Investors?

By Nicolas Jose Rodriguez
June 18, 10:10 PM
Despite a 23% decrease in stock price over the past month, Village Farms International (NASDAQ: VFF) showcases a robust financial outlook with compelling growth in sales and improvements in gross margins and SG&A efficiencies.

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What Is The Trump Factor? Justice Dept’s Impact On Cannabis Rescheduling, Stocks And Investments

By Nicolas Jose Rodriguez
June 18, 5:03 PM
Equity research firm Zuanic & Associates convened a panel in mid-June featuring industry experts to dissect the ongoing cannabis rescheduling efforts in the US. They provided a comprehensive outlook on the rescheduling process, expected to conclude with the publication of the Final Rule in the Federal Register by November 2024.

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