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Canadian producer Aurora Cannabis loses another CA$1 billion

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Struggling cannabis producer Aurora Cannabis reported a net loss of 1 billion Canadian dollars ($770 million) for the three months ended March 31 on plunging sales of adult-use products, bringing its loss this year to CA$1.1 billion.

The latest CA$1 billion loss brings the Edmonton, Alberta-based company’s cumulative net losses since 2015 to roughly CA$5.3 billion.

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Net Revenue in the third quarter fell to CA$50.1 million, down from CA$54 million in the same period a year earlier.

Aurora’s adjusted EBITDA loss widened to CA$12.3 million in the third quarter, compared with CA$9 million in second quarter 2022.

But it was an improvement from the CA$20.9 million adjusted EBITDA loss in the prior-year period.

Aurora’s recreational cannabis net revenue plunged 43% for the January-March period year-over-year to CA$10.4 million and a stunning 73% off a third-quarter high in 2020.

Dried cannabis sales fell to CA$8.6 million, down sharply from

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Marijuana Business Daily

US appeals court: Hemp-derived Delta-8 THC products are ‘lawful’

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Delta-8 THC derived from hemp is “lawful” and eligible for trademark protection, a federal appeals court ruled in a vaping dispute.

The 9th Circuit Court of Appeals said in its ruling Thursday that because Congress legalized not just hemp but its “derivatives” and “extracts” in the 2018 Farm Bill, delta-8 THC is legal if it is derived from a hemp extract – in this case, CBD.

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The ruling gives delta-8 vape maker AK Futures another opportunity to block fellow California company Boyd Street Distro from allegedly selling counterfeit versions of AK Futures’ “Cake” vapes containing delta-8 THC.

The three-judge appeals panel sided with AK Futures and said that delta-8 THC is not a controlled substance under federal law if it comes from hemp.

“Regardless of the wisdom of legalizing delta-8 THC products, this court will not substitute its own policy judgment for that of Congress,” Judge D. Michael

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New York approves 58 more hemp cultivators to grow adult-use marijuana

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The essential resource for cannabis business leaders across all sectors provides the latest data and in-depth analysis you need to develop informed business strategies and avoid costly missteps.

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    Second Delaware bill to legalize adult-use marijuana loses in House vote

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    Learn the fundamentals for getting started in cannabis retail in this comprehensive guide curated by the editors at MJBizDaily with help from industry experts.

    Inside the MJBizDaily Retail Buyers Guide: Learn best practices for designing a cannabis dispensary. Select display infrastructure that supports industry compliance. Choose the right point-of-sale system for your operation. How to incorporate e-commerce and home delivery. And more!

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