TORONTO - Canada's pot industry is hoping the government review of the Cannabis Act will lessen the turmoil the sector is facing.
The president of the Cannabis Council of Canada says there's a significant sense of urgency throughout the sector because many pot businesses have faced layoffs, facility closures, bankruptcies and multimillion-dollar writedowns.
George Smitherman says about 80 per cent of the members his council recently surveyed say they cannot get to cash flow positivity.
If the government review doesn't result in change, he worries the struggle to reach profitability will only get harder.
Organigram CEO Beena Goldenberg says cannabis companies can be helped by the government reducing its burdensome excise tax and making it easier to advertise and give some customers the products they want.
The government's statutory Cannabis Act review got underway in September 2022, a year later than was required. A panel conducting the review will eventually put forward a final report with recommendations that the Minister of Health must table by March.