Agriculture
Aurora Cannabis CEO Terry Booth to step down, 500 staff face layoffs

Aurora Cannabis Inc. announced a dramatic restructuring of the marijuana producer that involves nearly $800 million in goodwill writedowns and the departure of hundreds of staff including its chief executive officer.
The Edmonton-based company revealed on Thursday — after markets closed and a few hours after trading of its stock was halted — that Terry Booth will immediately retire and it will eliminate the positions of about 500 staff, 25 per cent of which are corporate positions.
Aurora’s website boasts of 3,400 employees, which could mean the staff reductions may ensnare about 15 per cent of its workforce.
Aurora said executive chairman Michael Singer has been appointed interim CEO and a search for a permanent successor is underway. Booth will remain a director and become a senior strategic adviser to the board. Lance Friedmann and Michael Detlefsen will be added to the board.
“We believe our succession plan, expansion of the board and the rationalization of our business will make Aurora much stronger and more focused than ever before,” said Singer on a call with analysts, just after the announcement.
“We believe these are the right moves at the right time, and put our shareholders in the best position for value creation.”
The moves are the product of a detailed evaluation of all capital projects underway that will see a restructuring of spending plans related to technology, sales and marketing, travel and entertainment, professional services and non-revenue generating third-party costs.
The company previously decided to reduce its capital expenditures to below $100 million for the second half of fiscal 2020, but Thursday’s announcement also revealed that Aurora expects to report asset impairment charges on certain intangible and property, plant and equipment in the range of $190 million to $225 million and goodwill writedowns between $740 million and $775 million.
“These changes represent the start of a fundamental change in focus for Aurora as we look to generate sustainable, profitable growth, which is even more important in the context of our business rationalization,” said Singer. “We remain firmly of the opinion that a tremendous global opportunity still exists, but Aurora needs to rationalize the business today and drive as quickly as we can to generate positive cash flow.”
His remarks were echoed by Booth.
“These changes, along with the financial transformation which we are undertaking, should clearly demonstrate to investors that Aurora has the continuity, strategic direction and leadership it needs to transition from its entrepreneurial roots to an established organization well positioned to capitalize on a global growth opportunity,” he said in a statement.
He noted that he is both “proud” and “humbled” to have led the company, but feels “the timing is right” for him to step away.
“He recognizes that the next leg of our journey will be best led by a CEO with a different skillset,” said Singer. “Terry deserves an immense amount of credit as an icon and visionary in the cannabis industry.”
Aurora is one of the world’s largest cannabis companies with operations in 25 countries and 17 subsidiaries, including MedReleaf, CanvasRX and CanniMed Therapeutics. It has invested in and formed strategic partnerships with brands including Choom Holdings Inc. and High Tide Inc.
Aurora has faced rocky times in recent months. Its chief corporate officer Cam Battley, often the public face of the company who was credited for much of its early success, abruptly stepped down in December.
It said in November that it would immediately cease construction of its Aurora Nordic 2 facility in Denmark to save about $80 million, plus indefinitely defer completion of construction and commissioning at its Aurora Sun facility in Alberta to conserve $110 million. That news came as Aurora shares sank to a two-year low.
Its stock has plummeted in value in recent months and often hovers between $2 and $4. The shares lost 14.4 cents or 5.2 per cent to close at $2.66 on the Toronto Stock Exchange.
The company’s announcement comes just after Tilray Inc. announced on Tuesday the layoff of 10 per cent of its workforce in an effort to cut costs. The company — with a total head count of about 1,443 — said the move would help it better meet the needs of the industry and foster growth in 2020 and beyond.
Aurora is far from the first North American cannabis company to be hit with executive departures this year. TerrAscend Corp., Sundial Growers Inc., Supreme Cannabis Co, MedMen Enterprises Inc. and Flowr Corp. have all seen leadership exits in the last month.
This report by The Canadian Press was first published Feb. 6, 2020.
Companies in this story: (TSX:ACB)
Tara Deschamps, The Canadian Press
Agriculture
Why Canadians Should Care About Land Loss

Why Canadians Should Care About Land Loss
Developments are increasingly taking over Canadian farmland. Farms once took up much of Canadian land. However, that case is not true today. Only about 5% of Canada’s land is considered prime farmland. This prime land borders one of Canada’s fastest-growing regions, and once suburban development overtakes it, Canadian farmers will have a challenging time providing food for the cities.
Farmers in Canada make their livelihood by planting, growing, harvesting and distributing food to the Canadian populations. Without land, both farmers and the rest of those living in Canada will not get fresh, Canadian grown produce.
Here are some reasons why Canadian farmers should care about land loss:
- Farmland Provides Food
While this is an apparent reason, it’s an essential one. Prime farmland in Canada produces food for major Canadian cities. As farmers continue to lose land, they have to rely on a smaller acreage to make the same amount of food — if not more — for the growing population.
Over the past 10 years, almost 1 million hectares of agricultural land has diminished due to development and growing populations. Agriculture continues to adapt to land loss. However, further technological advancements must first take place to grow enough produce vertically rather than horizontally.
- Land Preservation Will Help the Economy
Farmland preservations come with a wealth of economic benefits. Agriculture contributes to the economy through the following ways:
- Sales: For the economy to survive, there needs to be consumer demands and sales. Almost everyone purchases produce, so there will always be a demand for those goods. Without land to grow agricultural products, no sales will be made, and the economy could suffer.
- Job opportunities: Less than 2% of Canada’s population works in the agriculture industry. While it’s not much, that’s still over 750,000 people. Preserving farmland shows a commitment to the industry. Land loss would create job loss. However, maintaining the farmland — and even reclaiming it, along with pastures — could boost the sector and, therefore, the economy. It would provide unemployed people with job security.
- Secondary markets: Farmers are just one part of the food business. Because of farmers and farmland, secondary markets can thrive. These would include processing businesses, restaurants, schools, grocery stores and even waste management companies.
Canadian farmers should care about land loss because standing back and allowing companies to overtake the farmland could seriously affect the economy.
- Farmland Benefits the Environment
Wildlife often depends upon farmland for both food and habitat. Various types of farmland create diverse habitats for many different species. Without land protection, these habitats and food sources would be destroyed, leaving many animals without a place to survive. Many would have difficulty finding a native habitat.
Additionally, growing crops helps eliminate some of the carbon dioxide released into the air. Air pollution could decrease for Canadian cities as long as no more farmland is used for development.
One major problem occurring with Canadian farmland is desertification. This happens when the soil loses nutrients and becomes barren. The urbanization of Canadian farmland is the primary contributor to desertification, which speeds up climate change and harms the environment. Keeping farmland as-is will slow down climate change.
- Land Loss Affects Farmers’ Jobs
Perhaps the main reason why Canadian farmers should care about land loss is because their livelihood could be taken away. If they don’t have the means to keep up with technological advancements in the agricultural industry, they will not be able to continue their jobs if they experience land loss.
Agriculture is an essential industry. Not everyone can pick up the skills needed to grow their own food, and so many people depend upon farmers for nutrition and goods.
Take a Stand to Preserve Farmland
Farmland is a worthwhile and precious resource for many people. Reduction in farmland acreage will hurt Canadian farmers and the rest of the population, the economy and the environment. Taking steps to prevent more land loss can slow the rates of destruction and keep natural habitats thriving for both humans and animalls.
Click here read more stories by Emily Folk.
I’m Emily Folk, and I grew up in a small town in Pennsylvania. Growing up I had a love of animals, and after countless marathons of watching Animal Planet documentaries, I developed a passion for ecology and conservation.
Agriculture
Canadian Agriculture More Energy Intensive, More Efficient

Canadian Agriculture More Energy Intensive, More Efficient
It’s no secret that agriculture has contributed to climate change through various means. For example, you may know that livestock generates greenhouse gas emissions due to how farms process it. That said, it’s now clear that farmers have found sustainable ways to offset those contributions. In Canada, it’s all about energy use.
Here’s how Canadian farmers have become more efficient as they raise crops and livestock, setting a standard the world should follow.
Energy Demand and Consumption Have Fluctuated
The demand for energy has increased across the agricultural sector as a whole. However, it’s key to note that farmers have begun to use less energy despite that fact. That points to more efficient practices. The farmers who complete their work productively save time, money and energy. As a result, Canadian workers have reduced their energy consumption per dollar by 17%. That’s thanks to sustainability.
The most common energy sources include fuel, gas and electricity. It’s how farmers use those resources that counts. Combined with technology choices and new practices, it’s clear that efficiency is more achievable than ever.
What Contributes to This Phenomenon?
It’s crucial for people in agriculture to explore eco-friendly alternatives. The grasslands that many western Canadian farmers cultivate contains excess carbon, so you can imagine what the country as a whole holds underneath its surface. Farmers have now adopted new methods to adjust how they harvest their crops. These systems are better for production, as well as soil and seed health overall.
The agriculture industry has gone through many changes, too. There are fewer farms — but those that still operate have employed agricultural technology to be as efficient as possible. These tools include different equipment that cuts down on time to increase proficiency. Plus, it’s now more common to use solar power as an alternative to traditional energy solutions.
Why Accuracy and Precision Matters
It’s a lot easier to be energy efficient when you don’t waste your resources. The means farmers practiced before they used specific innovations often created a time deficit. If you have a smaller machine, you likely need to do twice as much work. However, when you have access to equipment that fits your field, you don’t have to be as wasteful. The accuracy and precision created by technology make this a reality.
Soil Conservation Is Led by Ranchers
Many farmers have looked to ranchers for help. It’s a native part of ranching to preserve topsoil and other elements that are inherently sustainable. As a result, it seems like ranchers have been leading the charge against climate change for decades. The tactics they use to avoid tilling soil, for example, help preserve the amount of carbon that lies underneath the Earth’s surface.
The “no-till” practice is efficient in its own right. Rather than till your soil to plant a new crop, you simply leave behind what’s already there. This method is much better for soil nutrition, and it can keep carbon exposure at bay. As a result, you have much fewer carbon emissions. In general, the idea of soil conservation isn’t a new one, but old tricks can still work alongside modern technology.
The Future of Agriculture in Canada Looks Bright
If farmers continue on this path, it’ll be clear that climate solutions are at the forefront of their minds. These efforts create more benefits for them as they save time and money. Plus, there’s always the responsibility of maintaining the planet’s health. After all, without a strong ecosystem, agriculture would suffer. Through means that are more accurate and conservative, Canadian farmers have been able to become more efficient. Click here read more stories by Emily Folk.
I’m Emily Folk, and I grew up in a small town in Pennsylvania. Growing up I had a love of animals, and after countless marathons of watching Animal Planet documentaries, I developed a passion for ecology and conservation.