Stocks

Aurora Cannabis has reported a net loss of about $980 million in the second fiscal quarter of 2020. Shares in the company were on the rise this week, regardless.

Aurora Cannabis co-founder and CEO Terry Booth announced his retirement yesterday; meanwhile, the company announced it was implementing a new “business transformation plan” amid rumors of impending layoffs.

Adam Bierman — CEO and co-founder of MedMen Enterprises — is stepping down from his official duties starting tomorrow and has agreed to surrender his super-voting shares back to the company.

The CEO of MedMen went on Reddit Friday to answer questions from the general public. After about an hour, he ended the session, leaving numerous questions unanswered.

MedMen has proposed giving its vendors shares in the company instead of cash in an attempt to reduce overhead and conserve funds after its “restructuring” last year.

Aurora Cannabis has listed its Exeter, Ontario-based greenhouse for sale at an asking price of C$17 million, a potential sign of financial stress for the Canadian firm.

Canada’s Tilray was targeted by a $300 million lawsuit from Florida soap company Trimax, who accused the cannabis company of trying to bankrupt one of their subsidiaries in hopes of getting a cheaper acquisition.

Colorado businessman and author Jeffrey Friedland has been issued a $4.1 million fine for allegedly misleading investors about Israeli cannabis company OWC Pharmaceutical Research.

Hightimes Holding Corp. disclosed doubts about the High Times magazine’s ability to continue operations due to “recurring operating losses, net operating cash flow deficits, and an accumulated deficit.”

Recent surveying data suggests that investors are evenly split between whether or not they would ever invest in the cannabis space.

Bruce Linton — who was ousted from the CEO position at Canopy Growth Corp. in July — was announced this week as the new executive chairman at Vireo Health.

High Times CEO Kraig Fox confirmed the restructuring in an email to Ganjapreneur. Going forward, DOPE’s content will be produced at the High Times Los Angeles headquarters.

Canada-based Columbia Care, a global cannabis company, is set to acquire Colorado-based The Green Solution in a mostly stock deal worth $140 million.

Heco Corp., a licensed cannabis producer in Canada, just laid off about 200 workers — including some executive positions — in order to adjust “to a changing market and regulatory environment.”

The United Kingdom has given a license to Canada’s Canopy Growth that allows the company to import bulk medical cannabis products into the UK.

The acquisition deal between MedMen and PharmaCann has been called off; the companies announced the deal’s termination as “mutual.”

A class-action lawsuit against Sundial Growers Inc. in Canada claims the company’s U.S. stock prices were affected by an unreported incident where $1.9 million worth of cannabis was returned to the company due to poor quality.

The first U.S. patent for a specific hemp cultivar has been awarded to Charlotte’s Web Holdings, creator of the renowned CBD-rich strain of the same name.

Aurora Cannabis has announced a new brand — Aurora Hemp — after acquiring industrial hemp company Hempco Food and Fiber Inc.

Following a failed Health Canada inspection, cannabis producer CannTrust has received a non-compliant rating and must now propose a remediation plan to regulators.

Canopy Growth has inked a deal to acquire two research firms, pending regulatory approval.

The auditor for CannTrust Holdings has withdrawn its audits for 2018 and Q1 2019 after Health Canada orders the company to hold 5000 kg of inventory.

Details have emerged about the CBD trials partnership between the Ultimate Fighting Championship and Canada’s Aurora Cannabis; the trials will investigate CBD’s effectiveness in wound care, recovery, pain treatment, and more.

Aurora Cannabis Inc. has secured an exclusive license to provide Italian pharmacies with medical cannabis products.