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News analysis

Neptune Wellness joins the exodus from Canada’s troubled cannabis market

Written by || 14th July 2022 || News analysis | Cannabis – recreational | GeographiesCanada North America

Quebec-based Neptune Wellness Solutions has become the latest firm to exit the Canadian cannabis market. It recently announced that it will be divesting its cannabis assets to focus on its consumer packaged goods business, where it sees more potential.

The divestiture will include the sale of Neptune’s cannabis brands, Mood Ring and PanHash, along with its factory at Sherbrooke, Quebec, which was recently valued at CAD 21m, according to the company. The move will make around half of Neptune’s workforce redundant.

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Lorraine Mullaney

Senior writer
Lorraine is responsible for writing news analysis and assisting with copy-editing. Lorraine is a copywriter and editor who has written and edited words for a wide range of audiences, from local community newspapers to consumer magazines and trade websites.

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