Cannabis Canada: Supreme latest pot company to announce layoffs

Molson Coors reported its fourth-quarter and year-end results Wednesday, recording a profit of US$163.7 million, up from US$76.0 million in the same quarter a year earlier. However, buried in the release was an update on the company’s investment in Quebec-based cannabis producer Hexo. Molson said the value of the warrants it received from Hexo as part of its deal for Truss, their cannabis-infused joint venture, lost $14.3 million in value in the past quarter. Hexo awarded Molson 11.5 million warrants at $6 per share when they announced the joint venture in Oct. 2018.


Supreme Cannabis to lay off about 100 staff amid drive to seek “revenue growth”


Another day, another cannabis company reporting a round of job cuts. Supreme Cannabis is the latest pot company to announce layoffs, saying it would be trimming roughly 100 positions, equivalent to 15 per cent of its staff as it looks to focus on “near-term revenue growth.” Supreme also said it will stop investing in its UK and European cannabis operations, while maintaining its existing investments in Lesotho and its Truverra CBD business. Shares of Supreme have been in a downward spiral over the past year, declining by about 77 per cent.


Harvest One begins strategic review for entire operations, receives bridge loan from largest shareholder


Harvest One Cannabis said in a statement on Wednesday that its board has started a “range of strategic alternatives” aimed at refocusing its operations. A special committee of the board was formed to oversee the review while Harvest One’s largest shareholder, MMJ Group Holdings, gave the company a $2 million bridge loan last month to support the review process. Harvest One said it has no timeline associated with completing its review and noted no decisions have been met at this time.

Gotta love the smell of a sinking ship

you should see what's swimming away......rats rats and more rats

Even good ol neutral af Canada can't ward off the stink bugs of Corporate Cannabis. First we let our Governments criminalize us over cannabis, then we beg them for legalization and then they hand over the proceeds and rights to the plant to Corporate slut bags.

Hopefully one life time or another will figure out Governments don't play nice, and we should refrain from playing with them

Governments= Rules, Regulations and Codes. Trillions and trillions of them. Enough for all and any to live by. We are such good sheep!

BrewerT said:

Even good ol neutral af Canada can't ward off the stink bugs of Corporate Cannabis. First we let our Governments criminalize us over cannabis, then we beg them for legalization and then they hand over the proceeds and rights to the plant to Corporate slut bags.

Hopefully one life time or another will figure out Governments don't play nice, and we should refrain from playing with them

Governments= Rules, Regulations and Codes. Trillions and trillions of them. Enough for all and any to live by. We are such good sheep!

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No worries...many of us sheep don't "bae" as commanded. We woolly beasts BOYCOTT any legal cannabis products. This is working better than we could have thought or hoped. They are failing monthly almost now. The best fun is yet to come.

The majority of these companies wont be around at the end of the year. Harvest one is done, emerald health done, ggbrands done, invictus just filled for creditor protection, aurora will need a huge amount of cash to stay afloat. Also rumor has it aurora owes over 3 million to construction trades in alberta for working on their now half built empty facility. Wonder how their sale of the medreleaf facility for 17 million that they paid 3 billion for is going??

westcoast420 said:

Also rumor has it aurora owes over 3 million to construction trades in alberta for working on their now half built empty facility.

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Curious about this. Does anyone know who the general contractor is on this job?

Salutations,

Many more years of denial conveyed by politicians, mass media and friend$ can be expected before it eventually prompts for reasonable adjustments from our installed "elites". So, of course boycott is a suitable spontaneous response once better informed about the context but i would keep hoping for more reactive strategies, like founding our own member owned & operated COOPs to challenge LPs on the legal landscape while possibly using similar crowd-funded resources to put them under a microscope via financing extensive laboratory analysis of their dirty samples, for example, with "medical cannabis" clients participating as allies of the "recreational" ones, ideally...

Never forget it was our 1867 constitution which protected *ALL* Canadians (although the right to home-grow has been confiscated in some provinces), so we all got a duty to help maintain the traditional safety reputation of cannabis which people as myself once enjoyed when younger - which is exactly what's presently under attack: because "Légaleezation" is designed to induce fear+suspicion in the minds of cannabis consumers themselves. In The Name Of Children...

Quite unfortunately one other domain where we got even weaker is the consumption method and i don't foresee a unifying resolution anytime soon, yet it would be essential to separate the self-vilification of smoking combustion from that associated to savvy soups of Pest Control Products, otherwise bigot anti-cannabic prohibitionists shall continue to collect contaminated statistics data forever.

Good day, have fun!!

Greetings Egsozet,

I do like your ideas. We are growing as a group this year, membership in the group is FREE as long as we can use your yard. It’s kind of like a coop with no paperwork or overhead involved.

If somebody sets up a gofundme for testing LP’s I will gladly donate.

Freedom seed said:

Curious about this. Does anyone know who the general contractor is on this job?

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Not sure, theres lots on social media from guys that worked on the site claiming they were never paid.

Salutations Freedom seed,

Freedom seed said:

We are growing as a group this year, membership in the group is FREE as long as we can use your yard.

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Actually i'd do it myself and keep low-profile if there were no risk of civil asset forfeiture, which one way or another defeats the purpose of a COOP anyway: i'm from Québec...

Good day, have fun!!