Cannabis retailers to remain open as Ontario shuts down 'non-essential business' due to COVID-19 pandemic: Sources

Licensed cannabis stores will remain open in Ontario during a provincial emergency shutdown of non-essential businesses designed to limit the spread of COVID-19. Two sources with direct knowledge of the matter told BNN Bloomberg that the province's 50 pot stores and the Ontario Cannabis Store, which handles all e-commerce cannabis sales, will remain open for the next two weeks. Ontario Premier Doug Ford announced Monday that all non-essential businesses in the province will be required to shut down effective Tuesday at 11:59 p.m. ET for a period of at least 14 days. Some cannabis retailers have already reduced their working hours to avoid crowding and better manage customer traffic flow amid the pandemic.

Canadian cannabis industry sends letter to Ottawa requesting to be part of $82B aid package

Canada's cannabis industry is looking for a piece of Ottawa's upcoming $82-billion economic aid package for businesses impacted by the COVID-19 pandemic. More than 70 cannabis industry professionals, ranging from producers to retailers to consultants, signed a letter sent to Industry Minister Navdeep Bains and Finance Minister Bill Morneau on Monday that outlined their request to obtain additional funding to weather the economic impact of the virus. "We are not asking for special treatment, but rather equitable treatment," the letter states. Last week, Prime Minister Justin Trudeau announced that the Business Development Bank of Canada and Export Development Canada would disperse $10 billion to provide continued access to financing for those impacted by COVID-19.

Organigram to temporarily lay off workers during COVID-19 outbreak

Organigram Holdings said it expects to conduct a round of temporary layoffs as the pot producer looks to ramp down its operations to facilitate adequate social distancing amid the COVID-19 outbreak. Organigram said its workforce will be "materially reduced as a result of voluntary and company-imposed temporary layoffs" but didn't specify how much of its approximately-800 staffers will be affected. Organigram spokesperson Ray Gracewood told BNN Bloomberg that the situation is currently "fluid" but the company expects to issue further details "as we have a more clear line of sight." The Moncton, N.B.-based company also said it received Health Canada’s approval for the licensing of its next phase of its production facility aimed at extraction and processing.

CannTrust regulatory inspections to be delayed thanks to COVID-19 precautions

CannTrust Holdings said on Monday that inspections required to return the company to compliance with regulators will be delayed due to the COVID-19 outbreak. CannTrust said Health Canada is reducing its onsite field inspection activities until the end of March. "Health Canada's response to the COVID-19 pandemic could adversely affect the timing of the Company's remediation efforts," CannTrust said in a statement. CannTrust expected inspections to be completed around the second quarter of the year and would file for formal reinstatement to Health Canada shortly afterward.

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35%



-- The size of market share Charlotte's Web expects to achieve​ in the U.S. CBD food and mass retail space after announcing it will acquire Abacus Health Products in an all-stock deal valued at $99 million.



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