Ontario celebrated its 100th authorized retail store last week, as provincial regulator AGCO has ramped up its approvals to grant 24 Retail Store Authorizations in 26 days. We’ve come a long way from last year’s REC retail lottery chaos.
- There are now so many licensed REC stores in Ottawa’s touristy ByWard Market area that community leaders are asking to slow new store approvals to avoid “a monoculture.”
- The province also extended its temporary emergency orders allowing private REC retail delivery and pick-up until July 10.
Hot after a booming first year, REC chain Fire & Flower paid off $27.17M worth of unsecured convertible debentures. The company was also spotted advertising on Pornhub.com (an age-gated site, one presumes). Jason Spatafora, owner of MarijaunaStocks.com, said ads on the site were “surprisingly cheap” and offered “great” return on investment.
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- Hopefully the spate of new stores will help with brand differentiation: at present consumers aren’t familiar with either LPs nor REC retail brands.