Canadian cannabis company Entourage Health Corp. is laying off roughly 35% of its staff as it ends its cultivation operations and sources adult-use and medical marijuana from Hexo Corp via a new supply agreement.
Entourage, formerly known as WeedMD, posted a loss of 17.4 million Canadian dollars ($12.9 million) for the quarter ended September 30, with revenue of CA$13.4 million, according to a joint news release.
ADVERTISEMENT
About 90 employees will be affected as the Toronto-based company phases out cultivation over five months at its Ontario facilities in Strathroy and Guelph, according to a company spokesperson.
The Strathroy greenhouse facility is used for “propagation, cultivation and post-harvest activities such as drying, curing, (and) trimming,” the spokesperson noted, while the Guelph facility performs “tissue culture” and “genetic remediation.”
“We regret having to make this decision but the costs to maintain our Strathroy facility are no longer viable,” the
Read full article on Marijuana Business Daily
