One of Vancouver Island's largest medical marijuana growing companies announced Thursday it is laying off 61 employees.

Tilray opened its Nanaimo facility in 2014 and at its peak employed nearly 200 people, giving it a high profile as a major employer in the region.

The company insists the layoffs will not have any impact on "the thousands of patients we serve," according to a statement from Tilray CEO Greg Engel.

"Tilray is making changes to our operating model to more efficiently serve patients and the MMPR market as it exists today," Engel wrote.

"Tilray is well-capitalized and confident in our long-term business strategy, and we are operating more efficiently than ever before."

Major employer

DENVER, June 26, 2015 (GLOBE NEWSWIRE) -- General Cannabis Corp (OTCQB:CANN) today announced the appointment of Peter Boockvar to its Board of Directors, effective immediately. Mr. Boockvar also was appointed to the Audit and Compensation committees of General Cannabis’ Board.

Current Registered Client Count Increased to 3,000 Fiscal 2015 Financial Highlights: - Revenues for the first full year of operations totaled $3,058,711 - Grams sold for the first full year of operations totaled 418,372 grams - Gross Margin at 42.4 percent Q4 2015 versus Q3 2015 Financial Highlights: - Revenues increase approximately 23 percent to $847,690 - Grams sold increase by 22 percent to 115,065 grams - Gross Margin at 60.5 percent

SIOUX FALLS | An Indian tribe in South Dakota that plans to start selling marijuana for recreational and medicinal purposes envisions its single point of sale on the reservation as a facility that will also have a bowling alley, a bar and other entertainment features.

Leaders of the Flandreau Santee Sioux Tribe on Wednesday unveiled details of their plans to sell cannabis after signing a contract with Denver-based Monarch America Inc., which will be responsible for the design, construction and development of an indoor growing site that will feature a marijuana consumption lounge.

A Unique, Two-Story Outlet in Denver’s Trendy Stapleton Neighborhood

Dispensary CEO Ryan Fox says the new outlet has innovative features that improve customer service while ensuring cannabis consumers get all their questions answered.

DENVER (June 26, 2015) -- The Grass Station, one of Colorado’s oldest and largest recreational marijuana dispensaries, is building on its reputation as an industry innovator with its newly-opened second location in Denver’s Stapleton neighborhood.

DALLAS, TX--(Marketwired - Jun 26, 2015) - Totally Hemp Crazy, Inc. (OTC PINK: THCZ) announced today a distribution agreement for the entire country of Canada with Rocky Mountain High Canada of Calgary, Alberta.

The initial order for 1,000,000 cans of product will be specially manufactured for the Canadian Market and will be produced and booked as revenues for the next fiscal quarter. The Canadian cans will be labeled both in English and French. The order will also include the introduction of a fifth exciting flavor that will soon be announced by the Company. 

When pure and administered carefully, [cannabis] is one of the most valuable medicines we possess,” wrote British physician John Russell Reynolds in 1890, praising the substance’s curative properties. He even prescribed it in the form of a natural tincture for his most illustrious patient, Queen Victoria.

Over a century later, cannabis, also known as hemp or marijuana, is on the list of banned substances worldwide due to its psychotropic effects. A devastating and dangerous drug for some, a medicine without equal in the pharmacist’s repertoire for others, cannabis is beginning to be used again in the treatment of serious illness and chronic pain.

The Calgary beer baroness shares what she's learned while building her booming brewing business

Manjit Minhas wants you to know that she’s nicer than the upcoming season of Dragons’ Denmakes her seem. “When you watch the show starting September 7 and I’m yelling at people, it’s because they’re asking for my hard-earned money,” she said. “And it’s the editing process.”

For many startups and other small businesses, summer is Six-Month Evaluation Season. Which is something to look forward to, rather than fear, seeing as this assessment is designed to check on the health of your business.

So as we get ready for the remainder of the year, now is the time to locate that ugly virus that is making your business sick or to understand what is keeping it healthy. Here are some ideas to start your evaluation.

The Women Grow leadership summit in Colorado last month unveiled a rising force in the marijuana industry.

They came wearing stiletto heels, running shoes, cowboy boots, ballet flats and even high heel sneakers. They were hard-working professionals, most of them mothers, gathered around a fake campfire at the five-star Cordillera Lodge in the Rocky Mountains. Despite the occasional rain shower, they roasted marshmallows for s'mores, howled with laughter, and soaked naked in the Jacuzzi while eating crème brulee.