Kush Masters
Durban Kush #8, El Chivo #4, White 99
Livgreen
Bananaghani, Big Bubba Diesel, Cake Pop, Durban Kush #8, El Chivo #4, FUN, Gastro Pop #4, Grape Gasoline S1, Malibu Mirage, Miracle Alien Cookies, Muffinz Breath #1, Sherb Crasher, Strawberries N Cream, Triangle OG, Veritas Cookies, WRZ, White 99, Yuk Mouth
Lucky Monkey Buds
Forza Sans Souci #4, Muffinz Breath #1
Magnolia Road
Bananaghani, Big Bubba Diesel, Cake Pop, Durban Kush #8, El Chivo #4, Forza Sans Souci #4, Frozen Dessert, Lava Breath #2, MIL, Malibu Mirage, Muffinz Breath #1, OZ Kush, Peach Crescendo #2, RUN, White 99
Magnolia Road
Bananaghani, Big Bubba Diesel, Cake Pop, Cereal Barz, Cookies N Cream, Durban Kush #8, El Chivo #4, FUN, Forza Sans Souci #4, Gastro Pop #4, MIL, Malibu Mirage, Miracle Alien Cookies, Muffinz Breath #1, OZ Kush, Peach Crescendo #2, Peking Duck #6, RUN, Sherb Crasher, Slurricane, Sour Diesel, Space Gello, Strawberries N Cream, Sueno, Super Sour Lemon, Triangle OG, Unicorn Poop, Veritas Cookies, White 99
Makena
Bananaghani, Cereal Barz, Slurricane, Space Gello, Wedding Crasher
Native Roots
Bananaghani, Cake Pop, Cereal Barz, Cookies N Cream, Durban Kush #8, El Chivo #4, FUN, Forza Sans Souci #4, Frozen Dessert, Gastro Pop #4, Lava Breath #2, Malibu Mirage, Miracle Alien Cookies, Muffinz Breath #1, OZ Kush, Peach Crescendo #2, Peking Duck #6, Pineapple Blast, RUN, Sherb Crasher, Slurricane, Sour Diesel, Sour Rado, Space Gello, Strawberries N Cream, Super Sour Lemon, Triangle OG, Unicorn Poop, Veritas Cookies, WOF, Wedding Crasher, White 99
Peak North
Bananaghani, Cake Pop, Gastro Pop #4, Grape Gasoline S1, Super Sour Lemon, Veritas Cookies
Rino Supply
Cake Pop
Ripple
Cherry Diesel, Durban Kush #8, Muffinz Breath #1, Yuk Mouth
Rocky Mountain Cannabis
Rocky Mountain Cannasol
Strawberries N Cream, White 99
Rocky Road
Cake Pop, Gastro Pop #4, Unicorn Poop, Veritas Cookies, White 99
Roots RX
Gastro Pop #4, Sour Diesel, Unicorn Poop
Roots Rx
Bananaghani, Cake Pop, Cherry Diesel, Durban Kush #8, FUN, Gastro Pop #4, Muffinz Breath #1, Slurricane, Sour Rado, Strawberries N Cream, Strawberry Shortcake, Triangle OG, WOF, White 99, Yuk Mouth
Solace Meds
Cereal Barz, Slurricane, Space Gello
Star Buds
Bananaghani, Big Bubba Diesel
TGS
, Big Bubba Diesel, Cookies N Cream, Durban Kush #8, El Chivo #4, Garlic Breath, Gastro Pop #4, Gelato 41, Lava Breath #2, Malibu Mirage, Miracle Alien Cookies, Peking Duck #6, Pineapple Blast, Sherb Crasher, Slurricane, Sour Diesel, Sour Rado, Strawberries N Cream, Sueno, Super Sour Lemon, Unicorn Poop, White 99
The 404 Dispensary
Bananaghani, Big Bubba Diesel, El Chivo #4, Lava Breath #2, Malibu Mirage, Slurricane, Veritas Cookies
The 64 Store
Forza Sans Souci #4, Gastro Pop #4, Super Sour Lemon, Triangle OG, Unicorn Poop
The Dispo
Cereal Barz, Durban Kush #8, El Chivo #4, Gastro Pop #4, Miracle Alien Cookies, RUN, Slurricane, Sour Diesel, Sour Rado, Strawberries N Cream, Super Sour Lemon, Triangle OG, WOF, White 99
The Happy Camper
Bananaghani, Big Bubba Diesel, Cake Pop, Forza Sans Souci #4, MIL, Muffinz Breath #1, Sour Rado, Super Sour Lemon, Veritas Cookies
Tumbleweed
, Durban Kush #8, Miracle Alien Cookies, Peach Crescendo #2, Strawberries N Cream, Unicorn Poop, White 99
Twin Peaks
Gastro Pop #4
A Cut Above
Big Bubba Diesel, Durban Kush #8, El Chivo #4, Gelato 41, Sour Diesel, White 99
ANNA
El Chivo #4, Malibu Mirage, RUN, Veritas Cookies
BUDS LTD
Durban Kush #8, Strawberries N Cream, White 99
Berkeley Dispensary
Miracle Alien Cookies
Best High
, Bananaghani, Gastro Pop #4, Sherb Crasher, Unicorn Poop
Blue Heron
Durban Kush #8, El Chivo #4, White 99
Buku Loud
Bananaghani, Durban Kush #8, Peach Crescendo #2, Sherb Crasher
COS Confidential
El Chivo #4, Forza Sans Souci #4, Muffinz Breath #1, RUN, Slurricane, Space Gello, WOF
Canna Cabinet
Big Bubba Diesel, Durban Kush #8, El Chivo #4, Gastro Pop #4, Lava Breath #2, Malibu Mirage, Miracle Alien Cookies, OZ Kush, Pineapple Blast, RUN, Sour Diesel, Strawberries N Cream, Triangle OG, Unicorn Poop, White 99
Cannabicare
Frozen Dessert, Gastro Pop #4, RUN, Sour Diesel, Sueno
Cherry Peak
Bananaghani, Big Bubba Diesel, Cake Pop, Cereal Barz, Cherry Diesel, Cherry Punch, Durban Kush #8, El Chivo #4, FUN, Forza Sans Souci #4, Gastro Pop #4, Gelato 41, Grape Gasoline S1, MIL, Malibu Mirage, Miracle Alien Cookies, Peach Crescendo #2, RUN, Slurricane, Sour Diesel, Sour Rado, Strawberries N Cream, Sueno, Sunset Drive, Super Sour Lemon, Triangle OG, Unicorn Poop, Veritas Cookies, White 99
Colorado Harvest Company
Bananaghani, Cereal Barz, Durban Kush #8, El Chivo #4, Gastro Pop #4, Gelato 41, Malibu Mirage, Strawberries N Cream, Veritas Cookies, White 99
Euflora
, Dosilato #8, Durban Kush #8, Super Sour Lemon, Veritas Cookies
Herbal Healing
Big Bubba Diesel, Gelato 41, Lava Breath #2, Malibu Mirage, Veritas Cookies
Higher Grade
FUN, Forza Sans Souci #4, OZ Kush, Sherb Crasher, Slurricane
Kika Kush
Malibu Mirage, Sour Diesel, Triangle OG, Veritas Cookies
Kind Meds
Cake Pop, Muffinz Breath #1, Yuk Mouth

June 27, 2022

Veritas Fine Cannabis Closes Cultivation Facility, Lays Off Employees

THOMAS MITCHELL JUNE 23, 2022 10:19AM

Veritas Fine Cannabis was founded in 2017.

Veritas Fine Cannabis was founded in 2017. Scott Lentz

Veritas Fine Cannabis has closed one of its three growing facilities and laid off almost a quarter of its employees.

After rumors of Veritas layoffs began circulating on social media earlier this week, Veritas president Jon Spadafora confirmed the move.

"Having to close one of our indoor cultivation facilities and say goodbye to 33 incredibly talented and dedicated members of our team was truly gutting. As difficult as the decision was to move forward with the facility closure, we are focused on maintaining the rigid quality standards Veritas cannabis is known for and supporting our retail partners statewide," he says.

Veritas, one of Colorado's largest marijuana cultivation brands, began facing challenging issues along with much of the rest of the industry last fall.

"The current economic climate is a huge factor. When gas prices are reaching $5 a gallon or more and grocery store prices continue to climb, people are forced to adjust their household budgets — but at least cannabis prices aren’t rapidly inflating like we’re seeing with other commodities," Spadafora adds. "This is good for cannabis consumers, but it’s nevertheless challenging for industry operators, as sales volumes are also down in recent months."According to the state Marijuana Enforcement Division, the average wholesale price per pound of marijuana has fallen by almost 60 percent since January of last year, while monthly Colorado dispensary sales have decreased for eleven straight months on a year-over-year-basis. Veritas is one of a handful of marijuana businesses to publicly scale back in recent months; others include Pure GreensBonfire Cannabis and the ownership group behind Buddy Boy dispensaries.

Like other marijuana business owners and executives, Spadafora notes that more states have caught up to Colorado's marijuana shopping experience in recent years, and tourism dollars are declining as a result. Arizona and New Mexico are among the nineteen states that have legalized recreational pot, while Oklahoma's medical marijuana program is one of the most liberal in the country, with no cap on dispensaries.

"The status of today’s cannabis market is the result of a few events, one of which is certainly recent industry expansion. For the last three years, we have only known a market that did not have enough supply, so I think it is fair to say that many companies in the state expanded their capacity," Spadafora says. "Legalization in other states is having an effect as well. As cannabis becomes a normal part of many people’s daily routine, the novelty of visiting a legal state wears off. Visitors probably purchase a smaller amount when they come to Colorado now, since they can also purchase when they get home."Founded in 2017, Veritas was an early branded, stand-alone growing operation in the state. The company previously grew marijuana for Cookies, one of legal marijuana's largest marijuana brands, but the two are no longer partners, according to both companies.

Olio extracts and Higher Grade, a chain of Denver dispensaries, share common ownership with Veritas, but Spadafora says that all three are separate business entities, and the recent moves "only affected Veritas operations." No further changes at Veritas are planned at this time, he says, adding that executive pay cuts and operational adjustments have also been implemented to save more money.

"While this has been a difficult week for our team, we are confident that the future is full of opportunities. The market will rebound, and the best operators will continue to produce amazing cannabis products," he concludes.

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