Cannabis stocks sufferedas TSX share prices plummeted in response to panic over the COVID-19 pandemic.
BNN Bloomberg
Organigram‘s vape hardware producer Feather is facing holdups of two weeks to a month due to COVID-19-related factory shutdowns in China.
Bloomberg
- Producers who have relationships with suppliers in China can expect delays along those lines. Those new to the market who haven’t yet developed supplier relationships may be in for a far longer wait.
- That’s hardly happy news for a sector where stocks declined 21% last month–making eleven straight months of falling stock values.
New Cannabis Ventures
The NYSE again warned CannTrust its share prices were too low to be compliant. Shares must be more than $1 over 30 consecutive days of trading to be eligible for NYSE listings. The NYSE issued CannTrust a similar warning in December.
MJ Biz Daily, Stockwatch
- CannTrust is being investigated by not only the Ontario Securities Commission, but also by Health Canada after a whistleblower revealed last summer that the company was growing in unlicensed rooms and deliberately misled regulators.
Financial Post - Lawyer Trina Fraser said, “The potential for people to go to jail certainly exists. The potential for significant fines to be levied certainly exists.” As well, directors and officers may be stripped of security clearances they need to work within the licensed sector.
The International Brotherhood of Electrical Workers was handing out union cards this week at Aphria‘s Leamington campus, where numerous workers quit over complaints about heat in 2018. At the time, Neufeld said Aphria would hire Temporary Foreign Workers.
Twitter–The Cannalysts, Windsor Star
Quick Hits
- Emerald Health Therapeutics and greenhouse operator Village Farms settled their legal imbroglio with the conclusion Village Farms owns 57.4% of joint venture Pure Sunfarms.
Hemp Industry Daily
