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PASHA, CIVILIZED STRUGGLE WITH LAYOFFS, RESIGNATIONS

Two weeks ago, BC LP Pasha laid off a dozen of its 50 employees, mainly in communications and client services, calling six of them back on a commission basis, as it shifted focus to producing pre-rolls.
The Deep DiveMarketWatch

  • Pasha positioned itself as an umbrella organization to help BC craft producers enter a market dominated by corporate players.
  • Subsequently, most of Pasha’s board of directors resigned—including important sector players like extraction entrepreneur Rosy Mondin and Auxly CEO Hugo Alves.
    The Deep Dive

Cannabis lifestyle magazine/website Civilized was bought by American firm New Frontier Data, which laid off all staff “temporarily.”
CBC New Brunswick

Ernst Young cannabis manager Ashley Chiu warned—of the sector in general—that “30-40% of these companies won’t be around in a year. It will come down to execution and whether these companies have a differentiated strategy and a road to profitability.”
Twitter—Ashley Chiu

Quick Hits

  1. Now that cannabis is legal, the next hot investment for canna-executives is psychedelics, which show therapeutic promise despite illegality.
    Globe and Mail