Heritage Cannabis Sees Assets Sold Off Under CCAA Process
Another cannabis company has seen its assets sold off in connection to creditor protection proceedings. Heritage Cannabis (CSE: CANN) has completed the sales and investment solicitation process in connection with the proceedings, with assets being sold under a stalking horse bid. Heritage originally entered into CCAA proceedings in early April, following its largest creditor, BJK […]
Plurilock Sees Topline Revenue, Margin Improvements In Q2
Plurilock Security (TSX: PLUR) last night filed its second quarter financial results for the period ended June 30, 2024. The company reported topline revenue of $12.6 million, an improvement over the $12.3 million reported in the year ago period.
IRCC Terminates Temporary Resident Work Permit Program
Canada has terminated a temporary measure that allowed visitors to apply for work permits while in the country. Immigration, Refugees and Citizenship Canada (IRCC) announced the immediate end of this policy on August 28, 2024, ahead of its originally planned expiration date of February 28, 2025. The policy, introduced in August 2020 amid COVID-19 travel […]
U.S. Home Prices Soar to Record Highs, Sparking Housing Bubble Fears
The U.S. housing market is experiencing a remarkable surge, with home prices reaching unprecedented levels. According to the latest data from the S&P CoreLogic Case-Shiller Home Price Index, home prices in June 2024 rose by 5.4% year-over-year, setting a new all-time high. The Case-Shiller Home Price Index, which closely monitors the purchase prices of single-family […]
Trulieve Drops Over $70 Million Supporting Smart & Safe Florida In Push for Amendment 3
Major cannabis companies are throwing substantial financial support behind Amendment 3, the Marijuana Legalization Initiative set to appear on the November 5, 2024 ballot. This initiative aims to legalize recreational marijuana use for adults 21 and older in the Sunshine State. Trulieve Inc. (CNSX: TRUL) leads the charge in funding, with an unprecedented contribution of […]
Shell to Slash 20% of Workforce in Major Restructuring Drive
Shell (NYSE: SHEL) is set to implement significant workforce reductions as part of a broader strategy aimed at streamlining operations and enhancing profitability. The planned cuts, which are expected to affect around 20% of the company’s workforce within its oil and gas exploration and development divisions, mark a pivotal move by CEO Wael Sawan to […]
China Tightens Grain Imports Following Canada’s EV Trade Tariffs
China has announced new restrictions on grain imports, particularly focusing on barley and sorghum, in a move that seems less about domestic market dynamics and more about signaling discontent over Canada’s recent trade actions. This development comes at a time when Beijing is grappling with an economic slowdown and is determined to protect its agricultural […]
Puff, Puff, Pass… Out: How Tokyo Smoke Got Burned by the Cannabis Boom
In what some might call an inevitable conclusion, Tokyo Smoke, once a darling of Canada’s cannabis retail industry, has filed for protection under the Companies’ Creditors Arrangement Act (CCAA). This move paints a picture of a company that overplayed its hand in a market it clearly misunderstood. Once touted as a premium cannabis retailer, the […]
CIBC Profits Soar 25% in Q3 2024 as Credit Losses Drop
The Canadian Imperial Bank of Commerce (TSX: CM) has reported a significant rise in its third-quarter profits for 2024, driven by a sharp decrease in provisions for credit losses and robust growth in its Canadian personal and business banking division. CIBC’s net income for Q3 2024 climbed to $1.80 billion, or $1.82 per diluted share, […]
Revive Therapeutics Considers Exploring Bucillamine For Treatment Of Monkeypox
Revive Therapeutics (CSE: RVV) is continuing its efforts into evaluating the uses of Bucillamine, disclosing yesterday an update to its efforts in evaluating the drug for nerve agent exposure while also indicating it intends to examine its potential for the treatment of viral infections such as monkeypox. Presently, Bucillamine is being studied under a partnership […]