There is more bad news from Quebec-based HEXO, who has announced that it is shuttering three production facilities — two in Ontario, one in Nova Scotia — two of which were only acquired in the last year or so.
So we’re choosing to be optimistic about the latest on US legalization: a Republican-led cannabis legalization bill is “imminent,” according to Marijuana Moment.
Wait… another one?
Yes, we can add the forthcoming States Reform Act, led by Rep. Nancy Mace, to the list of existing legislative proposals like the SAFE Banking Act and MORE.
“The measure is being framed by advocates as a compromise between simple descheduling as proposed by other GOP lawmakers and wide-ranging comprehensive legislation that Democratic leaders are championing,” writes MM.
GOP support is a win
The States Reform Act is expected to be filed later this month after feedback comes in from stakeholders. And honestly? While it’s unclear at this stage what the potential of the legislation is and what it contains, it’s a good sign that the GOP wants to play ball on the cannabis file.
“Getting Republican buy-in could prove critical to getting something over the finish line, and the Mace measure seems aimed at appealing to the states’ rights and business interests of conservative colleagues on her side of the aisle while also incorporating some restorative justice and tax elements largely favored by progressives,” writes MM.
What’s next for HEXO
As for HEXO, 155 employees are impacted by the closures. According to the company’s press release, they’ll try to move as many workers as possible to their Quebec facility.
“This was a very difficult decision, but it is a key component of our integration plan, and one that we believe best positions HEXO for continued growth.”