Veritas Fine Cannabis has undergone another round of layoffs and is cutting back heavily on its cultivation output, according to president and CEO Jon Spadafora.
Perhaps Colorado's first notable wholesale cannabis grower, Veritas once operated several cultivations across the state and was the first to supply flower to Cookies when the Bay Area brand entered Colorado in 2020. Veritas began closing facilities and laying off staff in 2022, however, and went through another round of downsizing in late January.
According to Spadafora, Veritas has shut down its growing facility in Denver and will now outsource flower from other growers in Colorado. A growing operation in Aurora previously used for tissue-culture breeding will become a small-batch cultivation, but the vast majority of Veritas flower will be grown by a farm in Durango that Spadafora declines to name, as well as "small farms in the area putting out great product," he says.
"At the end of the day, we'll see if it's the right move, but we felt we had to make some significant changes to maintain our spot as an original cannabis brand in Colorado, and we've seen some Colorado titans fall lately," he says. "We feel Veritas has a distribution network that can highlight smaller farms. It's a big shift, but this feels like the right move."
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