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Cannabis company Atlantic Cultivation acquires insolvent Tantalus Labs brand

Cannabis company Atlantic Cultivation acquires insolvent Tantalus Labs brand | iNFOnews.ca
Cannabis company Atlantic Cultivation has acquired the insolvent Tantalus Labs brand. Credit: THE CANADIAN PRESS/HO-Tantalus Labs

ST. JOHN'S, N.L. – Cannabis company Atlantic Cultivation has acquired the insolvent Tantalus Labs brand.

Financial terms of the agreement were not immediately available.

The deal includes Tantalus Labs' brands and remaining inventory.

Founded in 2012 by Dan Sutton, Tantalus entered bankruptcy and insolvency proceedings in late June.

The company had to lay off more than 50 workers at its facility in Maple Ridge, B.C., owing millions to its main lender and millions more for unpaid excise taxes.

Atlantic Cultivation is a vertically integrated cannabis company based in St. John's, N.L.

This report by The Canadian Press was first published Aug. 28, 2023.

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Howard Alexander

Assistant Editor Howard Alexander comes to iNFOnews.ca from the broadcasting side of the media business.

Howard has been a reporter, news anchor, talk show host and news director, first in Saskatchewan and then the Okanagan.

He moved his family to Vernon in the 90s and is proud to call the Okanagan home.

If you have an event to share contact Howard at 250-309-5343or email halexander@infonews.ca.

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