We’re surprised that many events companies in the sector are still crawling on. We expect to see more of the same in the US before xmas

MJ Biz reports

Lift & Co. Corp., a Toronto-based cannabis events and marketing firm, has filed for bankruptcy.

The announcement comes after Lift failed to sell off its consumer and trade marketing divisions, along with its CannSell training program and other assets, according to the company.

Lift said that it had been “negotiating a significant equity investment in its events division by a global strategic investor” before the COVID-19 pandemic hit.

The proceeds of that deal would have used been used to grow its marketing operations.

“The onset of the pandemic resulted in that potential transaction being aborted and also in cash flow from the events division essentially ceasing,” said Lift.

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Canadian cannabis events firm Lift & Co. files for bankruptcy