FOOTPRINT
Hexo closing Belleville facility
Approximately 230 employees will be impacted by Quebec-based Hexo’s latest announcement that it is closing its Belleville, Ontario cannabis facility this summer, per Toronto Star.
In January, it sold a 25% interest in the facility for $10.1 million and continued to lease it. Its joint venture with Molson Coors Canada, Truss Beverage Co., will continue to operate in the building.
“This was a very difficult decision, but it is key component of executing on our strategic plan, and one that we believe best positions Hexo for profitable growth,” said president and CEO Scott Cooper in a statement.
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HIGH ALTITUDE
Chris Hadfield says space tourists are going to want cannabis
Now that space tourism is a reality, so is the concept of building a space station—and growing cannabis there, reports Futurism.
Hadfield joined the board of advisors for BioHarvest last year, which has been figuring out how to grow trichomes in a similar way to lab-grown meat.
“People have been chewing on mushrooms and various types of roots and berries for forever and so there’s always a role in society or human behavior for that,” retired Canadian astronaut Chris Hadfield said, “Once the population gets large enough, once you get to a stable enough situation, people are gonna want, you know, a drink. People are gonna want some pot.”
IN THE DESERT
High amounts of pesticides found in Arizona legal cannabis
Arizona cannabis shoppers can ask to see the lab test results for products before buying—but they may not be accurate, warns AZCentral.
An investigation by the Arizona Republic revealed two strains of cannabis purchased at a store in Phoenix had “extremely high pesticide contamination.”
It’s not the first time Arizona’s lab testing standards have been called into question. Lab OnPoint was accused of artificially inflating potencies for cannabis and paid out a settlement of almost $470,000.
NOVEL LISTINGS
Cannabis stocks slide in response to FSA’s CBD public list
The UK Food Standards Agency’s demand for “further evidence” of applications for CBD products sent some stock prices downward this past week, per BusinessCann.
Cellular Goods and MGC Pharmaceuticals both dropped by approximately 10%.
See the full update here.
