Months before COVID-19 arrived, the industry has braced for bankruptcies. Analysts warned those bankruptcies are still coming.
- CIBC John Zamparo said, “The pandemic will likely serve as an accelerant.”
- Using an NYU business professor’s scale to measure which companies are at risk of bankruptcies, analysts said (in order of severity) Sundial, Hexo, Tilray, and Aurora were rated as facing risk of bankruptcy.
- In an extensive reflection on insolvencies in the sector, McMillan LLP lawyers warned “We anticipate the current trickle of cannabis companies seeking creditor protection […] will build to a steady flow.”
Amnesty advocates continue to call for cannabis offenders and other non-violent inmates to be set free from prison before they’re sickened with COVID-19.
McGill University awarded Dr. Gabriella Gobbi the Principal’s Prize for her research linking cannabis and depression in young people that helped raise the legal age for cannabis from 18 to 21 in Quebec. The research found an association rather than a causal relationship between cannabis and depression.
McGill Reporter, Montreal Gazette, CBC Montreal, Globe and Mail