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Guyatt resigns as CEO of Canadian marijuana producer Phoena

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Greg Guyatt resigned from his position as CEO of Canadian cannabis producer Phoena “to pursue new challenges,” the Vaughan, Ontario-based company announced.

Guyatt had been CEO since early 2020, when the company was still called CannTrust Holdings.

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Phoena did not share the reason for Guyatt’s departure.

Corné Melissen has been named interim CEO.

Melissen is the owner of Phoena’s lead investor, Kenzoll B.V., a Netherlands-based private equity investment company.

CannTrust secured a new investment led by Marshall Fields International B.V., a subsidiary of Kenzoll B.V., in early 2022.

“We wish Greg well with his future endeavors, and I am looking forward to working with the Phoena team to continue our journey to becoming a formidable player in the cannabis industry,” Melissen said in a statement.

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Early in his tenure at Phoena, Guyatt steered the company through a turbulent time, helping

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Marijuana operators aim to mitigate 4/20 online outages this year

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As the marijuana industry gears up for the biggest sales day of the year, retailers, point-of-sale (POS) and e-commerce service providers are working to avert another online disaster.

Operators nationwide have installed a series of measures – bolstering infrastructure, employee training, stress tests and other support mechanisms – to capture every retail dollar on Saturday, April 20, the most celebrated day of the year for cannabis enthusiasts and retailers alike.

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Last year, a cascade of failures between Dutchie POS systems and their retail customers’ e-commerce menus led to widespread outages affecting hundreds, if not thousands, of stores in the United States and Canada.

Cannabis retail workers told MJBizDaily the outages knocked out online menus, prevented adult-use consumers and medical marijuana patients from placing

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Canada’s canceled licenses, ‘uncollectible’ cannabis taxes soar

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The number of canceled cannabis business licenses have soared alongside the amount of “uncollectable” excise tax in Canada.

At least 123 federal cannabis business licenses either were canceled or pending cancellation in 2023, according to new data provided to MJBizDaily by the Canada Revenue Agency (CRA).

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That figure is almost triple the number of licenses canceled in 2022.

Companies with canceled licenses are unable to cultivate, produce, package or possess non-duty-paid cannabis.

The data paints a picture of an industry facing micro- and macroeconomic challenges, many of which were spelled out in briefing materials for Finance Minister Chrystia Freeland and obtained through an access-to-information request.

The latest CRA data shows that at least 212 licenses were canceled between federal marijuana legalization in late

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Florida adult-use marijuana campaign spending tops $55M as other MSOs join

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The most expensive adult-use marijuana legalization campaign in U.S. history is picking up speed in Florida.

Six additional marijuana multistate operators have joined the quest of Tallahassee-based Trulieve Cannabis Corp. to transition Florida’s $2 billion medical marijuana market – the largest in the country – to adult use.

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In addition to the new partners, legalization campaign committee Smart & Safe Florida announced Wednesday that it raised another $15 million toward the effort.

The MSOs joining the Trulieve-led initiative are:

Miami-based Ayr Wellness, which operates 63 medical marijuana treatment centers in the state. Chicago-headquartered Cresco Labs, 33. New York-based Curaleaf Holdings, 61. Chicago-headquartered Green Thumb Industries, 15. Massachusetts-based Insa, 10. Chicago-headquartered Verano Holdings, 74.

The latest $15 million contributed to the legalization

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