An Ontario appellate judge dismissed the motion for an interim stay of the REC retail lottery by 11 disqualified lottery winners, saying it would likely harm the public interest. That means the process of licensing and opening Ontario’s next 42 stores will continue.
- Combining with BC REC stores (19% of REC stores) and Alberta’s (46%), 65% of REC retail occurs in the west of Canada.
Twitter—Aaron W. Anderson - EY cannabis strategy and risk advisor Ashley Chiu noted 70% of customers entering a REC store don’t know what they’re going to buy.
Twitter—Katie Pringle
Last week’s news the Ford government is considering allowing LPs to sell directly to retailers has insiders excited even as stocks fell on the news of impending procedural shakeup.
Barron’s
- BMO Capital Markets analysts predicted changing the wholesale structure would cause “a challenging transition period,” but ultimately provide consumers a greater variety of products at lower prices.
Yahoo Finance - The OCS indicated calls for new products from LPs will happen quarterly, but suppliers who receive sales licenses between calls will be allowed to make “ad hoc” calls.
Twitter—Aaron W. Anderson
Wes Weber, co-owner of illicit Toronto dispensary chain CAFE and former ace counterfeiter, may get 16 months in prison after he pled guilty to violating an Ontario Securities Commission order banning him from trading securities for 15 years.
CBC Toronto
Quick Hits
- Jeffrey Brodie who lived upstairs from evicted Toronto dispensary CAFE, won’t be allowed to go home, since, the judge noted, that would essentially reopen CAFE.
CityNews - Where in the Canadian cannabis sector is Globe reporter Jameson Berkow?
Globe and Mail
