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PricewaterhouseCoopers LLP said its recent review of the Ottawa-based cannabis business showed that Hexo “did not maintain, in all material respects, effective internal control over financial reporting” and several factors “raise substantial doubt about its ability to continue as a going concern.”
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The cannabis company announced that it is acquiring Galaxie Brands Corporation for $21 million. Galaxie Brands is a licensed producer focused on branding and manufacturing Cannabis 2.0 products, including flower and pre-roll manufacturing, extraction and formulation, edibles, vapes and oils.
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The Ottawa-based cannabis firm’s fourth-quarter loss compared with $169.5 million in the same quarter last year. Hexo says its net loss amounted to 89 cents per share for the period ended July 31, down from a loss of $7.08 per share in the fourth quarter of 2020.
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Marijuana Botany presents the scientific knowledge and propagation techniques used to preserve and multiply vanishing Cannabis strains. Also included is information concerning Cannabis genetics and breeding used to begin plant improvement programs. The book presents scientific and horticultural principles, along with their practical applications, necessary for the breeding and propagation of Cannabis and in particular, marijuana. It will appeal not only to the professional researcher, but to the marijuana enthusiast or anyone with an eye to the future of Cannabis products.
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Legal cannabis sales totalled approximately $2.6 billion in 2020. While this is an impressive feat for an industry only made legal three years ago, it’s also a little mind-boggling that half of the consumers haven’t made the jump to legal purchases to date.
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Licensed producers know that the post-harvest period is critical in producing high-quality cannabis. Unfortunately, this time can also be a window of opportunity for the spread of infection.
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