The Great Canadian Cannabis Gut Punch continued this week…
HEXO announced their acquisition of UP Cannabis came with an unwelcomed liability: unlicensed grow rooms in Niagara Falls.
Canopy’s earnings were (ahem…) not great…
Aurora is halting construction on some major, planned facilities amid some shaky earnings.
And perhaps this too: Alberta is removing an agricultural tax credit for cannabis growers.
Organigram’s earnings also took a hit – with partial blame put on Ontario’s retail cannabis roll-out.
The change in Ontario’s retail cannabis plan cost (at least) $10 million in stores that didn’t actually open. (As if taking note, Cannabis NB is looking to get out of the government-run cannabis game…)
Do you have one of those vape-apps on your iPhone? Well, it’s going away thanks to Apple removing those apps from their store.
And then there was this crap news: The Leaf News is being shut down by the Winnipeg Free Press.
Some less crappy news…
The Cannabis Council of Canada has some thoughts about how to help/improve/turn around the industry that they shared in a letter with the Prime Minister. (One has to wonder where this letter was pre-election.)
Also, the letter prompted some none-too-kind response about the advocacy for a legacy market crackdown.
Auxly is going to grow outdoors with their Robinsons brand.
Tantalus is coming to the Ontario Cannabis Store and Ontario retailers. Watch for more on this front from BofC later this week.
South of the border…
There is some good news from the US. It looks like some national legalization legislation may get a good look and a House vote this week.
And some bad news too, Vice President Biden is proving himself to be your grumpy neighbour – and stuck in his “cannabis as gateway drug” mentality.
And check out all all things Business of Cannabis…
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