Amid looming “carnage” for Canadian pot industry, Aurora not far from U.S. re-entry: CEO
What keeps Aurora Cannabis CEO Terry Booth up at night? Aside from his seven-month-old daughter, Booth can’t help but shake his company’s stock performance as of late. “As the CEO, you really want to know how the market is differentiating us,” he said in a rare, wide-ranging interview with BNN Bloomberg. While Aurora’s stock has indeed suffered, trading down 51 per cent over the past year, Booth continues to remain optimistic on the company’s prospects. He highlighted how the U.S. remains a crucial market for its CBD product ambitions, and reiterated a firm focus on governance and managing its finances to retain investor confidence in an industry beset by steep losses. Booth said the company is planning to re-enter the U.S. market, but declined to provide a firm timeline. He also warned that the Canadian cannabis industry will soon see “carnage” among some companies that have high production costs per gram of pot grown, while others will struggle to survive in the current downturn.
Health Canada finds some legal pot contains restricted pesticides
What’s exactly in your cannabis? Global News reports testing conducted by Health Canada found roughly 95 per cent of licensed cannabis producer samples came back negative for pesticides shortly after legalization last year. Global News, which obtained the figures from filing access-to-information requests, said the country’s cannabis regulator conducted 133 tests between November 2018 and February 2019 during which five samples tested positive for restricted pesticides. Of those samples, four were found to be within acceptable limits for metalaxyl, a fungicide. Health Canada didn’t list the names of the licensed producer samples, Global reports.
What keeps Aurora Cannabis CEO Terry Booth up at night? Aside from his seven-month-old daughter, Booth can’t help but shake his company’s stock performance as of late. “As the CEO, you really want to know how the market is differentiating us,” he said in a rare, wide-ranging interview with BNN Bloomberg. While Aurora’s stock has indeed suffered, trading down 51 per cent over the past year, Booth continues to remain optimistic on the company’s prospects. He highlighted how the U.S. remains a crucial market for its CBD product ambitions, and reiterated a firm focus on governance and managing its finances to retain investor confidence in an industry beset by steep losses. Booth said the company is planning to re-enter the U.S. market, but declined to provide a firm timeline. He also warned that the Canadian cannabis industry will soon see “carnage” among some companies that have high production costs per gram of pot grown, while others will struggle to survive in the current downturn.
Health Canada finds some legal pot contains restricted pesticides
What’s exactly in your cannabis? Global News reports testing conducted by Health Canada found roughly 95 per cent of licensed cannabis producer samples came back negative for pesticides shortly after legalization last year. Global News, which obtained the figures from filing access-to-information requests, said the country’s cannabis regulator conducted 133 tests between November 2018 and February 2019 during which five samples tested positive for restricted pesticides. Of those samples, four were found to be within acceptable limits for metalaxyl, a fungicide. Health Canada didn’t list the names of the licensed producer samples, Global reports.