After Canopy Growth's layoffs and facility cutbacks, experts say high excise taxes and stiff competition from unlicensed sellers have made it difficult for legal growers to do business.
found that 33 per cent of cannabis users still buy from illicit sources, at least occasionally.
"The competition with the illicit market, compounded by an overbuilt legal cannabis industry, has caused price compression across the board. We expect the sector challenges to remain for years to come. And as a result, the sustainability of this legal sector is in question," Klein told investors. "You can see the proportion of this whole excise tax, and it's way out of whack," he said. "Our preference would be to go back … 10 per cent excise on products across the board,""This is not the time to be taxing cannabis into oblivion. Get greedy later. Don't do it now," he told CTVNews.ca in a phone interview on Thursday. "Let's let the legal industry thrive before you start to tax it into oblivion.
"I don't buy argument because, like it or not, the industry has grown in the past year and they shrunk," he said. "It's disingenuous for them to just throw this on the government and just say it's all the government's fault.of the country's Cannabis Act.
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