Tantalus Labs founder Dan Sutton says the Business Development Bank of Canada will not assist the ailing sector
More bad news could be on the horizon for the Canadian cannabis industry.
On Monday night, Dan Sutton, the CEO and founder of BC-based cannabis cultivator Tantalus Labs, tweeted that a senior account manager at the Business Development Bank of Canada — a Crown corporation mandated to help develop small and medium-sized companies through financing and other means — had notified them that they would not be providing relief to the cannabis sector.
As cannabis companies are increasingly feeling the impact of the pandemic lockdown with temporary layoffs and store closures, cash flow interruptions could lead to permanent closures for some businesses, Sutton said.
Read More here: www.thegrowthop.com/cannabis-news/these-are-peoples-real-livelihoods-will-ottawa-provide-covid-19-relief-for-cannabis-companies
by By Sam Riches The GrowthOp