George Robinson Quoted on BNN Bloomberg While the company [CannTrust] said the financial impact from its non-compliance is unknown, the value of the 12,700 kilograms of unsold cannabis on the wholesale market is pegged to be close to $70 million, according to George Robinson, chief executive officer of RavenQuest Biomed Inc.
Robinson, who also took over CEO duties at Bonify Inc. after Health Canada found the Winnipeg-based cannabis producer sold illegally-sourced cannabis last December, said this is an “inflection point” where investors will call into question the depth of corporate governance at some cannabis producers.
“Health Canada is sending a message that entrepreneurial creativity is not allowed in a regulated environment,” Robinson said in a phone interview with BNN Bloomberg. “With market caps for companies in the billions of dollars, you have to act like a real business, take a look at the bottom line and not just pursue growth for the sake of it.”