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Calgary, Alberta-based cannabis producer Ogen has closed its doors, an executive announced, making the company the latest casualty in Canada’s cutthroat marijuana industry.

The closure affected 87 of the company’s workers, Ogen President Darren Brisebois said in a LinkedIn post.

Ogen grew small-batch craft cannabis.

Brisebois didn’t say what prompted the privately owned business to close, but dozens of companies have exited the troubled Canadian cannabis industry in recent years.

Overheated competition, falling prices and regulatory and tax issues are often cited by businesses.

“November 3, 2023 was the most difficult day of my career. OGEN closed its doors and 87 people lost the place they came to work at every day,” Brisebois wrote.

“One thing is effortlessly clear to me. OGEN’s greatest asset(s) were the folks that walked through those doors.”

In his message, Brisebois urged other employers in the industry to consider hiring Ogen’s former employees.

“To Employers: Cannabis is a very difficult business. You need grit. You need a ‘can do’ attitude,” he wrote.

“You need to put your blood and sweat into each day and leave it all on the ‘office floor’. These are the types of people that will lead your team.”

From April through September, 42 federal cannabis business licenses were revoked, mostly at the request of the companies themselves.

Ogen held processing and cultivation licenses from Health Canada.