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Hexo slashes workforce by 200 amid lower marijuana revenue expectations

Troubled Canadian cannabis company Hexo, which this week postponed the release of financial results amid lower revenue expectations, said it is cutting about 200 jobs across multiple locations and divisions. The cuts represent approximately 20% of the Quebec-based company’s workforce and include the elimination of some executive positions and the departures of Arno Groll, chief […]

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Alberta cannabis producer readies Canada’s largest rooftop solar array

An Alberta-based cannabis producer is weeks away from flipping the switch on what it says will be Canada’s largest array of rooftop solar panels. Freedom Cannabis expects to activate the 1,830-kilowatt array at its facility 20 kilometers (12 miles) west of Edmonton in November. The initiative is, in part, an answer to the growing amount […]

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Marijuana producer Hexo delays earnings release, announces CA$70 million private placement

Quebec cannabis producer Hexo postponed the release of its financial results, which were expected Thursday, after announcing a plan to raise 70 million Canadian dollars ($53 million) in a private placement. In a news release, Hexo said the delay was due to “the (private placement) financing and additional time required to finalize” its year-end filings. […]

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British Columbia’s adult-use cannabis program hits stride as sales double

Sales of recreational marijuana across Canada rose 19% in August to 127 million Canadian dollars ($97 million) from the previous month, buoyed by new store openings in Western Canada. British Columbia’s adult-use market is starting to hit its stride after getting off to an extremely slow start, according to new Statistics Canada data. Receipts of […]

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Green Organic Dutchman slashes cannabis production target 85% for 2020

Ontario-based The Green Organic Dutchman (TGOD) announced a new construction timetable this week that significantly scales back its expected 2020 production capacity, while maintaining its goal to be profitable by the second half of next year. Earlier this month, the cannabis producer warned that it may have to revise the construction schedule for its facilities […]

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CEO of DionyMed cannabis company leaves amid possible default

Toronto-based DionyMed, a multistate marijuana brands operator, is under pressure after key executives stepped down amid a possible credit default. CEO Edward Fields and Mark Zinselmeier, the chief operating officer, resigned from the company, which has businesses in states including California and Nevada. DionyMed received a notice of default under an existing credit agreement demanding […]

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