Westleaf sheds staff to save $1.4M in costs, plans corporate re-brand 

B.C.-based cannabis producer and retailer Westleaf announced several corporate changes on Tuesday, including a name change and some employee terminations. Westleaf said it will lay off 11 positions in a move to save $1.4 million, while slashing the number of its retail locations to 11 from 22 to reduce lease obligations and other costs. Westleaf also said it modified the construction of its cultivation facility, which it now expects to be completed this April. The company will now be known as Decibel Cannabis Company as of March 2 following a series of internal transactions, while also launching a number of new strains and a pre-roll product.

Australis to end merger talks with Folium after discovering “new information” related to the deal

Australis Capital, the U.S. cannabis company spun out from Aurora Cannabis in 2018, announced Tuesday it plans to end its merger agreement with Folium Biosciences. The two companies first announced plans to merge back in December after disclosing Australis made a “strategic investment” in Folium amid plans to focus on the burgeoning U.S. CBD market. However, after Australis “discovered new relevant information” regarding Folium, it said it has decided not to proceed with the merger. A conference call to discuss Australis’ future plans will be held on Feb. 26.

Valens receives purchase order for 3,000 units to be exported to Australia  

Valens GroWorks said it will begin shipping medical cannabis to Australia under a white-label agreement later this year, the company announced Tuesday. Valens said it will export three different tincture products, totaling over 3,000 units, after receiving a purchase order from its Australian customer. The products are expected to be shipped in the second quarter of the year after receiving necessary import and export licence permits. The company didn’t disclose in its statement who its customers in Australia will be, but Valens has previously announced a three-year cannabis flower and oil supply deal with Medigrowth.

B.C.-based budtenders become first cannabis workers to join UFCW union    

Clarity Cannabis budtenders in British Columbia are the first cannabis workers at a private, legal dispensary to unionize in Canada, according to the United Food and Commercial Workers International Union. The union’s Local 1518 said the move will help to address some concerns raised by the retail workers including fair wages, safety and security on the job, and education opportunities. While Clearly Cannabis was able to unionize, other cannabis companies such as Tilray have seen their workers attempt to form a union. A vote conducted by Tilray employees in Nanaimo, B.C. to unionize in October has yet to be disclosed.
 

DAILY BUZZ

$12 million
-- The amount that Canadian cannabis retailer High Tide sold its KushBar retail assets to Halo Labs, the company announced late Friday. 

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