Hexo, formerly called Zenabis, once employed 475 people but is now down to 108

A major cannabis producer in northern New Brunswick is cutting more than half its local workforce.

Hexo, formerly called Zenabis, is laying off 142 workers at its Atholville plant.

The Ottawa based Hexo bought Zenabis in 2021.

The plant employed about 475 people just two years ago, and at one time was expected to bring more than 700 jobs to the Restigouche region.

CBC News asked Hexo for comment, but didn't receive a reply.

The layoffs announced Wednesday leave the plant with just 108 employees and are raising questions about the company's future in the region.

Three years after cannabis’ legalization in Canada, prominent figures in the industry are seeing surges in requests for higher THC in packaged edibles. Currently, the standard for legal edibles and infused beverages is capped at 10mg per package. Those who want a more intense sensation or who have higher tolerances are forced to look elsewhere. Many are turning to the black market (unregulated manufacturers) for their cannabis.

Niel Marotta is CEO of Indiva and co-chair of the edibles caucus in the Cannabis Council of Canada (C3). The organizations are currently lobbying Health Canada to make them aware of what Marotta believes is a “half-million dollar market failure.”

The Nova Scotia Liquor Corporation (NSLC) released its year-end financial results today, June 14.

For the fiscal year April 1, 2021, to March 31, 2022, total sales were up 3.5 per cent to $820.5 million, with an increase in both beverage alcohol and cannabis sales compared to the previous fiscal year. Beverage alcohol sales increased 1.7 per cent to $718.7 million, and cannabis sales increased 18.2 per cent to $101.7 million.

Earnings decreased 2.1 per cent to $268.7 million. Earnings were down due to increased sales of cannabis and local products, which both have lower margins compared to other products, higher payroll costs and increased freight costs.

Further Updates Related to Private Label Offerings in Manitoba and Ontario Expected in the Coming Weeks

Canadian cannabis operators are urging lawmakers to amend current excise taxes as weed prices drop. With the decline of marijuana prices, the flat-fee tax structure is disadvantageous, to say the least, reported The Globe and Mail. (Benzinga)

Canadian Marijuana Stocks For Your Monday Watch List

When it comes to marijuana stock investors many are trying to keep up with the sector. For some time now both U.S. and Canadian marijuana stocks have seen their fair share of up and down trading. This choppy pattern creates a bit of aggressive buying and selling. Meaning that when a company starts to see some pullback in trading people tend to buy the dip and wait for the next rise. However, even when an upswing does occur it most times is for a short period of time.

The legalization of cannabis for entertainment in Canada in October 2018 contributed to the country’s gross domestic product (GDP), which last year was $ 43.5 billion, but this year this number is undoubtedly higher.

Canadian sales of regulated recreational cannabis have reached an all-time high Approximately $ 358.8 million According to retail data for March ($ 279.6 million) Statistics Canada Recently released.

This figure represents a 10.7% increase in comparison February cannabis salesMarch is considered to be three days longer than February.

February sales were down to C $ 324.1 million or C $ 12.3 million lower than previously reported by Statistics Canada.

Ever since Canada's legalization, cannabis stores have been popping up in Toronto to an extensive, almost immeasurable degree. 

Though it's been great to see a once hidden, illegal market now thrive in the city, many stores have been struggling to stay alive in an extremely competitive environment.

Since 2021, Toronto has doubled its number of cannabis stores, with roughly 300 stores in operation by the start of 2022.

The market has gotten so saturated that independently-owned weed shops are now actively trying to be acquired by major chains.

Québec-based brands and products available on store shelves

 ROSE LifeScience Inc. ("ROSE"), a major Québec cannabis producer, distributor, and marketer, announced a significant company milestone with the introduction of two brands and product lines to the Ontario market.

The launch of Tam Tams and Homage cannabis brands in Ontario marks the first time ROSE products will be available to consumers outside Québec.

"This is a big moment for us, but also for Québec as a leader in the cannabis space," said Davide Zaffino, ROSE President and CEO.

"Our expansion shows an appetite for the consumer-focused brands and services that customers in our home province have come to rely on."

Global Cannabis Applications Corp. ("GCAC" or the "Company") (CSE:APP), (FSE:2FA), (OTC:FUAPF), a leading medical cannabis chain-of-custody compliance and data platform announced the signing of a Letter of Intent (LOI) to form a Joint Venture (JV) with COMSOL PPV Telecom (“Comsol”) to open an online portal focused on providing Canadian veterans with Efixii cultivated cannabis products. New Brunswick-based Sana’a Cannabis will be the lead cultivator to provide best-in-class cannabis to veterans grown on the Efixii blockchain. This marks the first use of Efixii in the Canadian medical market by a major cultivator.