315,000 sq. ft., 200 workers

CAN: First licensed medical cannabis producer is closing

A major cannabis grower in Clearview Township will be closing its doors later this year. According to an investor update posted on their website, Cronos Group announced they will be closing their Peace Naturals campus in Stayner in 2022.

“Extensive analysis went into this decision,” Cronos Group chief executive officer Kurt Schmidt said in a conference call with investors. “We know this is the right decision to ensure Cronos’ long-term growth.

“We have always maintained that cultivation would shift to large-scale agricultural specialists as the industry matures,” he added. “We are confident our supply chain in Canada is at a maturity level where we can implement this approach.

“We are grateful to our Stayner associates for their hard work and contributions to Cronos Group." The release states that Cronos is planning a “phased reduction and transition of activities,” which should see the plant close completely by the end of 2022.

To read the complete article, go to www.barrietoday.com

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