Cannabis firm Atlas Global selling Alberta facility, laying off 50 people
Canadian cannabis company Atlas Global Brands is ceasing operations at a facility in Gunn, Alberta, and laying off 50 employees.
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Canadian cannabis company Atlas Global Brands is ceasing operations at a facility in Gunn, Alberta, and laying off 50 employees.
The Czech Republic could still move ahead with adult-use cannabis legalization in some form, despite legal and political hurdles and Germany’s partial retreat from its plan to regulate marijuana sales.
The Société québécoise du cannabis (SQDC), the monopoly retailer of legal recreational cannabis in Canada’s second-most-populous province, reported a net income of 94.9 million Canadian dollars ($71 million) for its fiscal year ended March 25.
TerrAscend Corp., a North American cannabis operator, has sold its head office in Mississauga, Ontario, for 19.7 million Canadian dollars ($15 million).
Marijuana multistate operator Red White & Bloom Brands plans to acquire financially troubled Canadian cannabis operator Aleafia Health in a share-exchange agreement.
Fire & Flower Holdings and its cannabis subsidiaries have received an initial order for creditor protection from a Canadian court after raking up significant net losses of more than 200 million Canadian dollars ($150 million) since 2018.
Business failures and consolidation failed to stop Canada’s stockpile of unsold cannabis from reaching a new high in the final quarter of 2022, the latest sign that shrinking prices and margins could continue to squeeze companies in 2023.