Greenhouse operation by a Canadian pot company once intended to be among the world's largest is now "indefinitely" on pause

Growth op

Aurora Cannabis Inc. has announced it’s halting operations at its Sun greenhouse in Medicine Hat, Alberta, reports Global News . The Edmonton-based company says 30 workers will be laid-off. According to Aurora spokeswoman Michelle Lefler, the changes will take place later this month. Alberta cannabis industry in retreat as operations pruned, jobs cut Small towns, big dreams and lowered expectations: Communities across Canada are adjusting to the new reality of the cannabis industry Aurora Cannabis in penny stock territory after another bad week The Sun greenhouse was once touted as being able to produce more than 230,000 tons of kilograms annually in a 1.2 million-square-foot facility and employ more than 600 people. None of those estimates ever came to fruition. In year one of legalization, Canadians bought less than 90,000 kilograms of pot . Only about 250,000 square-feet of the facility ever became operational and 600 jobs turned into less than a 100. “It hasn’t taken off like everybody expected,” Medicine Hat mayor Ted Clugston told The GrowthOp earlier this year. “And we’re dealing with the fallout of that now.” Aurora has endured several rounds of lay-offs and asset sales this year. In January, the company listed its Exeter, Ont. greenhouse for $16,999,000 . In February, founder and CEO Terry Booth resigned and the company cut 500 jobs . In June, Aurora announced it was shutting down five production facilities and laying off close to 700 workers. Following the June announcement, Aurora’s interim CEO, Michael Singer, said the decisions were based on more than cutting costs.  “We have undertaken a strategic realignment of our operations to protect Aurora’s position as a leader in key global cannabinoid markets, most notably Canada,” he said. “ We believe that we now have the right balance for the long-term success of Aurora.”

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Source : Greenhouse operation by a Canadian pot company once intended to be among the world's largest is now "indefinitely" on pause

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