Ottawa-based pot producer says it also wants to upgrade its plant in Belleville, where it bottles cannabis-infused drinks in a joint venture with brewing giant Molson Coors.
From lawyers to landlords, Ottawa entrepreneurs continue to rush into increasingly crowded cannabis retail market
With more than 100 cannabis shops either operating or poised to open, business owners are looking further outside Ottawa's core to 'underserved' markets
HEXO knew it had to be proactive in securing a strategic portfolio of intellectual property (IP) assets – including patents, trade secrets, trademarks and copyrights.
CEO Sebastien St-Louis said the Ottawa-based company is seeking “maximum flexibility” to make acquisitions and sign partnerships with players in related industries.
Purchase marks Canopy's latest move as it watches to see whether the U.S. loosens laws around marijuana following the election of President Joe Biden.
Ottawa-based cannabis firm reported a loss of $20.8 million in its latest quarter, compared with a loss of $298.2 million in the same period in 2020.
Shareholders claimed the pot producer misled them and failed to disclose problems with the business.
Cannabis company says it remains on the path to profitability in the coming fiscal year.
The companies believe the deal will help Ottawa-based cannabis producer access the European medical cannabis market through Zenabis' partnerships.
The loss amounted to $2.43 per diluted share for the quarter ended Dec. 31, compared with a loss of $109.6 million or 26 cents per share a year earlier.