- Agrima’s parent company Ascent says its “ability to continue as a going‐concern may be in doubt.”
- Agrima’s license was suspended in September for alleged “unauthorized activities with cannabis.”
- Announcement comes days after ten large shareholders transferred voting rights to a trustee.
The future of Agrima Botanicals Corp. and its parent company Ascent Industries Corp. is in jeopardy after Health Canada said it will proceed with plans to revoke Agrima’s cannabis licenses.
In September, Health Canada suspended Agrima’s ACMPR licenses and Dealer’s License due to alleged “unauthorized activities with cannabis.” The department said in November that it intended to fully revoke the licenses, but gave the Maple Ridge, B.C.-based cannabis producer time to provide “reasons why a license revocation would be unfounded.”
On Thursday, Ascent announced that Health Canada had rejected its reasons, and plans to proceed with the license revocation. The department gave Ascent