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Canadian cannabis company Hexo unveils its third and biggest deal of the year so far


Canadian cannabis company Hexo unveils its third and biggest deal of the year so far
MarketWatch
1 hr ago
CANNABIS WATCH
© robyn beck/Agence France-Presse/Getty Images
Canadian cannabis company Hexo Corp. announced its third and biggest deal of the year so far on Friday with news that it is acquiring privately held Redecan for C$925 million ($764.7 million) in cash and stock.
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Gatineau, Quebec-based Hexo said the deal will propel it to leader in the Canadian adult-use cannabis market and give it number one position in Canada’s four biggest markets, Alberta, British Columbia, Quebec and Ontario.
“The Canadian adult-use industry continues to evolve at a rapid pace, and we are at the forefront of that change,” Hexo Chief Executive and co-Founder Sebastien St-Louis said in a statement. ....

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'I'm not a quitter': Irwin Simon's long and winding road to the top of Canada's pot industry - Article


Every time Irwin Simon buys a new company or brand, his barber gets upset. 
“I’m very superstitious,” said Simon, chief executive officer of Tilray Inc. “During a deal, I never get a haircut.” 
Depending on how the next few years go, the 63-year-old executive might have a hard time staying well-coiffed if deal activity in the fast-paced cannabis sector continues to heat up. Simon â€“ who in previous roles sold everything from diet drinks to free-range organic chicken - now has one goal ahead of him: running the biggest pot company in the world. 
And as he looks forward to capturing a bigger slice of the global cannabis pie, his business acumen, developed over decades in various marketing and management roles, will be put to the test as rivals in the U.S. are already generating oodles of cash in a market where the more established Canadian players remain on the outside looking in.  ....

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Pot Users Splurge on $800 Bongs as Stigmas Fade


Pot Users Splurge on $800 Bongs as Stigmas Fade
May 10 2021, 8:57 PM
May 10 2021, 4:30 PM
May 10 2021, 8:57 PM
(Bloomberg) Cannabis accessories are getting the luxury treatment, from $800 bongs designed by artists to $600 bespoke tabletop lighters and $300 vanity trays.
(Bloomberg) Cannabis accessories are getting the luxury treatment, from $800 bongs designed by artists to $600 bespoke tabletop lighters and $300 vanity trays.
These upscale products are catching on as stigmas around marijuana dissipate and its consumers seek to show off cannabis culture. The items are meant to be proudly displayed and double as home décor and art, rather than paraphernalia that’s stashed away when company arrives. ....

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Large cannabis companies are starting to experience growth headwinds because of fickle consumers


The Globe and Mail
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ALANA PATERSON/The New York Times News Service
Shifting brand loyalty and increasing popularity for better-quality cannabis products are hampering the growth prospects of some of the largest cannabis companies in Canada – despite an overall boost in sales of legal recreational cannabis throughout the pandemic.
Last week, both Aphria Inc. and Organigram Holdings Inc. reported weaker-than-expected quarterly revenues driven by lower domestic demand for their products. ....

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