The FIGR Group is comprised of three companies. That includes two processing facilities FIGR East in Charlottetown, also known as Canada s Island Garden, and FIGR Norfolk in Simcoe, Ont. and Toronto-based FIGR Brands, which owns a majority stake in the two processing companies and provides head office services. All together FIGR employs about 200 people, approximately 144 of them at the Charlottetown site.
According to FTI s filings, FIGR has been operating at a deficit since its launch. Debt at FIGR East in Charlottetown is about $93 million, much of it as a result of expansion of its indoor grown facilities in recent years. The FIGR Group had been largely reliant on indirect subsidiaries of its parent company, North Carolina-based Pyxus International Inc., for financing.
Company to Host Call Today at 5:30 P.M. (ET)
MORRISVILLE, N.C., Jan. 21, 2021 /PRNewswire/ Pyxus International, Inc. ( Pyxus or the Company ) (OTC Pink: PYYX), a global value-added agricultural company, announced today, after a strategic review by the Boards of Directors of Pyxus and certain subsidiaries, that it intends to divest its cannabis business in order to focus on its more profitable tobacco and e-liquid businesses. In addition, the Company has taken action to restructure its industrial hemp and CBD operations to minimize financial investment in that business. Our strategic decision to exit cash flow negative cannabinoid operations will allow us to reduce corporate SG&A and sharpen our focus on growing our more profitable tobacco and e-liquid businesses such that these complementary businesses can fully leverage Pyxus 145-year heritage and existing relationships, said Pieter Sikkel, President and CEO of Pyxus International. We maintain our belief that there is v
UPDATED 3.30PM Fraser Coast Mayor George Seymour has urged residents to stay calm and follow the advice of health authorities following positive wastewater Covid test results. The Pulgul positive sample was taken on January 5. The site, which services Kawungan, Nikenbah, Scarness, Torquay, Urangan and Wondunna had returned negative samples in the weeks preceding. Maryborough, which services Aldershot, Granville, Island Plantation, Maryborough, Maryborough West, Oakhurst, St Helens and Tinana returned positive results on samples taken on December 22 and January 4. The sample taken from before Christmas was delayed in transit and a negative sample was taken on January 5. It had been negative in the weeks preceding.
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