Cannabis Professional’s daily roundup of industry news. View archive here.
Hexo receives news licences from Health Canada
Hexo Corp. announced Monday it has received licences from Health Canada for its cannabis Centre of Excellence in Belleville, Ontario, for research, and for the sale of cannabis topicals, extracts, edibles and beverages from its flagship campus in Gatineau, Que.
“The research licence will allow us to take our innovation work to the next level, with testing on derivative products, including taste testing. Consumers have high expectations for their packaged goods experiences, and cannabis will be no different,” said Sebastien St-Louis, CEO and co-founder of HEXO Corp.
Hexo also said that Health Canada had granted HEXO Corp’s cannabis Centre of Excellence in Belleville licensing for its first phase. The space has capacity for the manufacturing of advanced cannabis products, including cosmetics, vapes, non-alcoholic beverages and other edibles. On Oct. 17, 2019 Hexo says it submitted 60-day notification to Health Canada for new products in the recently legalized product categories.
Kraft Heinz makes first cannabis-related investment
Kraft Heinz announced last week that it made its first foray into the cannabis space.
FoodBev.com reported that the CPG giant, through its Evolv Ventures venture capital subsidiary, co-led a US$23-million funding round in Denver-based tech startup Flowhub. FoodBev describes Flowhub as a “cannabis retail software company which delivers compliance, point of sale, inventory tracking and business intelligence data to cannabis dispensaries through a digital platform.” Evolv was created by Kraft Heinz last year “to invest in emerging tech companies,” the industry B2B site says. FoodBev says the investment was one of the largest Series A rounds undertaken in the cannabis tech industry.2
Harborside names interim CEO, expands management team
Harborside Inc., a California-focused, CSE-listed vertically integrated cannabis company, announced today that Peter Bilodeau has been named as interim CEO, replacing Andrew Berman. The Company also announced the expansion of its senior management team with the promotion of Greg Sutton as chief operating officer of cultivation and manufacturing, and the addition of Lisah Poore as chief retail officer, with Mireille Duclos leading Harborside’s human resources department. Mr. Bilodeau, Harborside’s current chairman of the board, will serve as interim CEO and together with a subcommittee of the board will undertake a recruitment process for a suitable replacement. The changes are effective immediately.
Kaden resigns from CannTrust board
CannTrust Holdings Inc. announced Monday that John Kaden has resigned from the company’s board of directors. CannTrust says the move followed “both the recent submission of its detailed remediation plan to Health Canada and the completion of its special committee’s independent investigation.” As part of the plan, the company says it has begun the orderly process of renewing its board of directors. Mr. Kaden is the co-Founder, managing partner, and chief investment officer of Navy Capital Green Management LLC. He was appointed to CannTrust’s board in October, 2018. In July 2019, Mr. Kaden was appointed to the Special Committee of Directors that was created to investigate the causes of the company’s non-compliance with Health Canada regulations.CannTrust says it has initiated a search for both Mr. Kaden’s replacement and additional new directors.