Canada

During the nearly two years of federal legalization in Canada, no single cannabis brand has earned more than 41 percent recognition among consumers.

Unlicensed cannabis producers in British Columbia earned about $1.24 billion last year, while licensed B.C. companies earned just $765 million.

Toronto-based Halo Labs, which serves consumers in both Canada and multiple U.S. state markets, reported a 49 percent decrease in revenue during the first quarter of 2020.

Florida medical cannabis company Bluma Wellness Inc. is now trading on the Canadian Securities Exchange under the BWEL.U symbol.

Health Canada says the cannabis industry has a generally high rate of compliance, having ordered just 15 product recalls — all due to mislabeled CBD and THC content — since legalizing in 2018.

A recent survey suggests that cannabis companies with the highest-paid executives tended to underperform over the last year compared to the industry average.

CannTrust has had the licenses for one of its grow facilities reinstated after its federal licenses were suspended last year over multiple regulatory violations.

Canadian cannabis producer Tilray has announced it will close its 406,000 ft greenhouse in Leamington, Ontario.

Cannabis sales in Canada rose 19 percent during the country’s coronavirus pandemic response efforts in March.

Canadian researchers behind a 10-year survey have suggested that setting the legal age for cannabis access at 19 would help avoid some potential adverse health effects.

Amid international shakeups, major alcohol distributor Constellation Brands has increased its stake in Canopy Growth Corp. by 5.1 percent, bringing its total stake in the company to 38.6 percent.

Canada’s legal cannabis industry has contributed $3.96 billion to the country’s GDP since the adult-use reforms took effect in October 2018.

Canopy Growth will lay off an additional 200 employees from its facilities in North America and the United Kingdom.

The number of class action lawsuits filed against publicly traded cannabis companies more than doubled from 2018 to 2019.

Ontario’s cannabis wholesaler has announced plans for new craft cannabis regulations and to allow on-site cannabis shops for licensed growers.

Canopy Growth Corp. has announced a series of changes for the Canadian company, including shutting down all of its operations in Africa, moving to an asset-light model in Latin America, and exiting the U.S. hemp cultivation scene.

Aurora Cannabis Inc. announced a stock consolidation plan this week after its stock traded at less than $1 for over 30 days.

Canadian cannabis company Organigram Holdings Inc. announced the temporary layoff of about 45 percent of its workforce, approximately 400 employees.

Cannabis businesses in North America are beginning to experience financial fallout from the ongoing coronavirus pandemic.

Canadian cannabis companies will be given fair access to the $40 billion approved for federal coronavirus response loans.

Chris Treville is the Co-Founder of GrowEx, a high-tech cannabis cultivation company focused on improving and innovating indoor growing systems.

Canadian cannabis healthcare technology company Cannalogue has applied to conduct clinical trials investigating potential cannabis-based treatments for COVID-19.

Officials in Quebec and British Columbia have declared that cannabis operators are “essential” and can remain open during the coronavirus outbreak.

Cannabis companies around North America are stepping up to help however they can in the fight against the spreading coronavirus.