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WAYLAND, AGMEDICA FILE FOR CREDITOR PROTECTION

LP Wayland Group, among the first LPs licensed by Health Canada in 2014, filed for creditor protection, saying it had not seen positive cash flow since it was launched.
Globe and Mail

Ontario LP AgMedica Bioscience also applied for creditor protection. In its filing, there was a warning for the sector: “Many other licensed producers of cannabis in Canada face similar pressures due to capital market conditions that have challenged the cannabis industry in recent months.”
MJ Biz Daily

  • AgMedica explained its reasons for seeking protection include “price competition with the illicit market, challenges with the roll-out of retail models across the country, and learning curves to adjust product mix to match consumer demands.”
    Twitter—Matt Lamers

Quick Hits

  1. Edibles makers bemoaned the timing of 2.0 legalization that will prevent their products from making the holidays more endurable.
    Canada.com