Primo Nutraceuticals, due to the COVID-19 pandemic and the closure of the Canada-U.S. border, has suspended several of its U.S. operations except for the Oroville Campus.
Due to the ongoing COVID-19 pandemic the Company has terminated its hemp farm operations in Oregon and cancelled the Coachella hemp venture until further notice. The Company’s management will reconsider operations in the United States once travel restrictions related to the pandemic have eased and the Canada- U.S. border has reopened for travel. The Oroville campus tenant grower has delayed the 2020 growing season due to the COVID-19 pandemic and will resume operations in the fall of 2020.
Over the past few months, Primo and other issuers in the cannabis industry have been impacted by the evolving regulatory and political climate with respect to the U.S. cannabis industry as well as temporary disruption caused by the COVID-19 pandemic. Primo and continue to operate in compliance with the regulations set out in US states it has operations in, most notably Washington State. The Company’s board and management are in the process of seeking further expansion opportunities in Canada.
Richard Cindric, CEO Comments: “We want to take a step back and re-evaluate the best environment for our business activities within our own domestic market place. We will always look to maximize any of our investments in regulatory environments that present the most positive exposure for our shareholders.”