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Canada’s cannabis industry is warning more cannabis companies may be forced to close their doors in the coming months, after the Canadian government failed to deliver excise duty relief in this year’s federal budget.
Paul McCarthy, president of the Cannabis Council of Canada (C3), told CannIntelligence that many of his members are struggling to stay afloat and that the tax and regulatory burden is making it hard to make a profit. While a couple of companies are profitable, they’re “barely keeping their heads above water”, he said.
