News

Quick Hits: Cannabis news in brief

Published on January 24, 2025 by Pat Bulmer

Inside the Galaxie Brands facility Photo: Contributed
Galaxie Brands, which operates a facility in Puslinch, Ont., has emerged from creditor protection.

Cannabis news in brief: THC drops; High Tide expansion; Stigma Grow record $; Galaxie re-emerges; Project 420 cuts; HYTN overseas

 

THC drops for New Brunswick

Toronto-based Glow LifeTech Corp. is making inroads into New Brunswick with its MOD THC berry and lime liquid drops.

The company reports it has received its first purchase order from Cannabis NB, the province’s sole wholesaler of legal recreational cannabis products.

The first orders were to ship in January, with products becoming available through Cannabis NB retail stores and private retailers.

 

High Tide moves into Germany

Calgary-based High Tide has bought a German medical cannabis company.

The owner of Canna Cabana stores across Canada is buying 51% of Purecan GMBH for approximately €4.8 million and will have an option to acquire the remaining interest in Purecan.

Purecan is a pharmaceutical wholesaler that holds a licence to import medical cannabis into Germany.

With the latest store openings in Hinton, Alta., and Pembroke, Ont., High Tide now operates 191 Canna Cabana stores — 160 in those two provinces.

 

Quick Hits

😖 Can’t survive: Excise tax, store markups crushing cannabis industry, producer says (CBC)

😥 Desperation: ‘I break the law to buy my child’s life-saving cannabis drug’ (BBC)

💸 Out of cash: Toronto to stop cracking down on illegal cannabis dispensaries (CTV)

⚖️ Lose, lose: Unlicensed BC cannabis store loses another appeal (InfoNews)

🚬 Wacky tobacky: The world’s largest tobacco company continues its silent entry into cannabis (Forbes)

 

Good times at Stigma Grow

CanadaBis Capital, a Calgary-based producer better known as Stigma Grow, reached record revenues for the financial quarter ending Oct. 31.

The company reported gross revenues of $9.6 million, a 7% increase from the previous year. Net income and adjusted earnings were both in the black, the financial statement said.

Its brands include Dab Bods, High Priestess and NGL.

“The company continues to market its resin-infused pre-rolls, shatter-infused pre-rolls, resin-infused flower, along with Moonrocks (whole flower, coated in resin and rolled in kief). The company was able to maintain sales of its newest product line, super-slim cigarette-style pre-rolls, the Electric Dartz,” the statement said.

The company also made its first international sale, shipping cannabis to Portugal.

 

Galaxie emerges from creditor protection

Galaxie Brands, which provides cannabis products to various companies, has shed its debts and emerged from creditor protection.

“In a significant step forward, Galaxie Brands has brought on large co-manufacturing clients to produce and pack pre-rolls for their flagship brands, with current production of several hundred thousand PRs per month expected to increase in the coming months,” the company said in December.

“Throughout the CCAA process, Galaxie not only maintained operations but achieved significant milestones, including deepening partnerships with TobaGrown/TobaRolling in Manitoba,” a news release said.

Galaxie’s new chief operating officer, Richard Aranha, is said to have extensive experience in cannabis operations and supply chain management.

The company operates a facility in Puslinch, Ont.

 

Project 420 cutting costs

A cost-cutting campaign called Project 420 has reduced sales for Canadian-American cannabis and brewing giant Tilray.

The company had mostly positive news to report in its latest financial statement. Most categories were improved, compared to the same quarter a year ago, and in the black.

The company launched Project 420 to boost profitability, a news release accompanying the financial report explained. Discontinuing some brands has reduced sales.

“For the fiscal year ended May 31, 2025, it is anticipated that the cumulative impact of these initiatives will result in a reduction of approximately $20 million in net sales, which we believe will be offset by the growth of our new product innovation,” the release said.

Tilray has gone into craft brewing in a big way, buying up a number of American breweries.

“I am enthusiastic about what lies ahead, including the potential future legalization of cannabis in the U.S.,” said CEO and chairman Irwin D. Simon.
Tilray also announced a deal to supply medical cannabis to Luxembourg.

 

HYTN shipping to U.K.

Vancouver-based HYTN Innovations has been approved to ship 400 kilograms of cannabis products to the U.K.

“This development underscores HYTN’s strategic transformation from a cannabis producer primarily serving the Canadian recreational market to a global manufacturer,” the company said in a news release. The cannabis will be shipped by the end of the first quarter.