Canopy has no further plans to expand inside Canada following a brutal $374.6M quarterly loss posted two weeks ago, which CEO Mark Zekulin blamed partly on the lack of REC stores open in Ontario.
Alberta Farm Express, NewsWire, Bloomberg
- The company is concerned consumers won’t show as much interest as predicted in Legalization 2.0 products when they begin appearing next month.
- However, Canopy says it won’t cut jobs—in part because they believe the market is going to improve as soon as more Ontario stores open.
CBC Ottawa
Quick Hits
- Aurora and Canopy published statements distancing themselves from the Cannabis Council of Canada’s call for enforcement of unlicensed growers and sellers, calling instead for cannabis convictions expungements.
Aurora, Canopy, MJ Biz Daily
