Canadian company threatened with loss of its medical cannabis licence

A Canadian company is facing the prospect of losing its licence to produce and sell cannabis products. It would mark the first time Health Canada has revoked a licence since the country first began regulating the medical marijuana industry.

Ascent Industries and its wholly-owned subsidiary, Agrima Botanicals Corp, have been given until 17th December to satisfy the federal health department that they are in compliance with the law.

Agrima’s licence was partially suspended in September after it was found not to have been meeting all its recordkeeping obligations.

Ascent, a publicly traded company, grows, produces and sells a range of cannabis products, including a number of CBD items.