Ontario gov't gives in to "legal" privately-run pot storefronts

17 Août, 2018, 06:09 | Auteur: Auguste Feret
  • Ontario plans to sell pot online this

A government agency called the Ontario Cannabis Store will sell pot online once it is legalized on October 17, and a "tightly regulated" private retail model will be in place by April 1, 2019. Long-term sentiment is positive from experts.

The province will begin consultations with several groups including businesses, consumer groups, municipalities and law enforcement next week and will examine the retail models planned by Alberta, Saskatchewan and Manitoba, Ontario Attorney General Caroline Mulroney said at the news conference.

Initial plans called for the drug to be sold in retail outlets run by the government, in a fashion similar to how alcohol is sold in 17 USA states.

Emery says millions of Canadians are already purchasing marijuana through illegal avenues and he doesn't see that changing until cannabis is legally available in shops.

"Simply put, relying exclusively on online sales until April 1 isn't an accessible enough model to sway people away from the black market", Clement said.

And recent signals from the government in Ontario, the country's most populous province, indicate that lawmakers are also willing to reverse course, or at least entertain the possibility of privately run retail outlets.

Legal sales are expected to reach US$4.9 billion by 2022, according to a report by USA cannabis research firms Arcview Market Research and BDS Analytics. OCS, a subsidiary of the Liquor Control Board of Ontario (LCBO) announced the Ottawa-based company's online and mobile sales portals will be used to develop a framework for selling recreational cannabis.

Under this plan, Ontario municipalities will also have a one-time window to opt out of allowing brick-and-mortar cannabis retail stores in their communities.

Brant Snedeker shoots 59 at Wyndham Championship
The 59 is the first on the PGA Tour since Adam Hadwin did it at the CareerBuilder Challenge in January 2017. Snedeker has had a down year by his standards and entered the week 80th in the FedEx Cup standings.

Arrest after dozens overdose in CT park
Numerous cases took place at the New Haven Green, a park near the university where a similar mass overdose took place on July 4. The mass overdose began Tuesday night and forced police to continue monitoring the Green late into Wednesday night.

Italian firm balks at bridge collapse backlash with "causes" unclear
Italian prosecutors focused their investigation into possible design flaws or inadequate maintenance of the 1967 bridge. The prime minister has said all infrastructure across the country will be double-checked in the wake of the collapse.

"We'll have more details when we announce the retail rollout", he said.

Pat Vanini, executive director for the Association of Municipalities Ontario, said members of her organization have many questions about the government's new plan and are eager to get answers with the legalization date looming.

Canopy Growth Corp. closed trading down 8.25 per cent, Aphria Inc. lost 9.54 per cent and Aurora Cannabis Inc. slid 9.8 per cent on Tuesday.

The Horizons Marijuana Growers Index ETF (NEO:HMJR), which tracks small-market-cap cannabis stocks across North America, suffered a 5.68-percent drop, according to the Aequitas Neo Exchange live tracker.

Private retailers will have to follow a series of provincial rules, such as prohibiting the sale of cannabis to anyone under the age of 19.

Prior to Monday's announcement, Canaccord Genuity analyst Matt Bottomley wrote that "we believe a shift to private retail could further complicate an already challenging process and result in a slower ramp for rec sales in Ontario".

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article. This article is not paid-for content.

Conseillé:

  • Serena Williams falls to Petra Kvitova in Western & Southern Open second round

    Serena Williams falls to Petra Kvitova in Western & Southern Open second round

    Andy crossed the finish line with a backhand down the line victor in game 10, scoring one of the best wins of his early career. Williams, a 23-time Grand Slam victor and a former champion in Cincinnati, needed just 65 minutes to dispatch Gavrilova.
    'Queen of Soul' Aretha Franklin dead at 76

    'Queen of Soul' Aretha Franklin dead at 76

    Rhythm and blues singer Aretha Franklin performs at the inaugural gala for President Clinton in Washington on January 19, 1993. The love she had for her children, grandchildren, nieces, nephews, and cousins knew no bounds".
    Un médecin propose un

    Un médecin propose un "remède" homéopathique contre l'homosexualité

    Considérer l'homosexualité comme une maladie est une idée reçue encore très tenace, ancrée dans les mentalités. Un médecin homéopathe établi à Lausanne propose de traiter les symptômes de l'homosexualité .
  • Bethenny Frankel pays tribute to late boyfriend Dennis Shields

    Bethenny Frankel pays tribute to late boyfriend Dennis Shields

    The judge criticized his style of argument on Thursday, saying: 'Now you're throwing grenades across the table'. Meanwhile, Frankel's eyes welled up with tears as she sat just a few feet away from her ex in the courtroom.
    Osama's raid commander to Trump: Revoke my security clearance too

    Osama's raid commander to Trump: Revoke my security clearance too

    William McRaven asks Trump to revoke his own security clearance in solidarity with Brennan, a frequent critic of the president. He also wrote: "Mr Trump's claims of no collusion are, in a word, hogwash".
    With pictures and songs, fans pay tribute as Madonna turns 60

    With pictures and songs, fans pay tribute as Madonna turns 60

    Shakespeare wrote about Cleopatra, "Age can not with her, not custom stale her infinite variety". "Long may you reign". In another, she playfully holds a small piece of cloth above her face that reads "The Queen".
  • Ex-Indian PM Vajpayee dies at age 93

    Ex-Indian PM Vajpayee dies at age 93

    Kargil war India won the Kargil war in 1999 and Vajpayee was hailed for his successful handling of the situation. Odisha CM Naveen Patnaik who visited New Delhi AIIMS said "I am deeply grieved by the sad demise of Vajpayeeji".
    Trump Says He Is in ‘No Rush’ to Renegotiate Nafta

    Trump Says He Is in ‘No Rush’ to Renegotiate Nafta

    However, President Trump has signaled his willingness to scrap the trilateral deal and instead pursue separate deals with Mexico and Canada.

    Surréaliste : Poyet menace de quitter Bordeaux… à cause du cas Laborde !

    Très remonté contre ses dirigeants, il a dit avoir passé " son plus mauvais jour au club " et vouloir "peut-être arrêter là". Gustavo Poyet n'était pas du tout tranquille après la victoire de Bordeaux sur le FC Mariupol (2-1).
  • Passionate Pep Guardiola the star of City documentary

    Passionate Pep Guardiola the star of City documentary

    Nevertheless, Gundogan is hopeful De Bruyne is able to feature again soon given his importance to their title charge last term. Manchester City have launched the 2018/19 away kit! We want to see Mourinho challenging Guardiola.

    Respect pour Aretha Franklin qui vient de nous quitter

    Aretha quitte son producteur et sa maison de disques pour s'engager auprès d'Atlantic records , aux côtés de Jerry Wexler. Surnommée la Reine de la Soul , Aretha Franklin s'est également illustrée en chantant du gospel, du R&B ou de la pop.
    Maryland Calls Special Closed Meeting For Friday

    Maryland Calls Special Closed Meeting For Friday

    Coach Durkin was placed on administrative leave Saturday after ESPN reported that coaches had been bullying the players. And teach our young kids, our young people that we worked so hard to get there, to 'Hey, I'm giving my child to you.


Populaire

Electric Vehicle Startup Nio Seeks $1.8 Billion IPO on NYSE
Ltd and Kandi Technologies Group, are listed in the U.S., Nio's IPO would dwarf their presence on the stock exchange. NIO is aiming for high-performance, premium segment in what's rapidly becoming a crowded EV market in China .

Ruben Loftus-Cheek to reject Schalke to fight for first-team minutes
Sarri wants to implement a 4-3-3 formation at Chelsea this season where Jorginho will play the role of a deep lying midfielder. Loftus-Cheek is likely to have to compete with both Barkley and Kovacic for a starting spot.

Turkish president says the country will boycott United States electronics
Doha has $20 billion worth of investments in Turkey, and Ankara is one of the top exporters to the emirate. On Wednesday, the lira traded at 6.4125 to the USA dollar, weakening from a close of 6.3577 a day earlier.

Steel tariffs to rescue U.S. steel industry
He told the Journal the 25 per cent tariffs on steel will rescue an industry important to United States national security. Critics also point to the bigger losses that have resulted from retaliatory tariffs by trading partners.

Bodies of Colorado family found on oil property
A law enforcement source told NBC affiliate KUSA in Denver that Chris Watts admitted to killing all three of them. " Celeste . Mike Hendrickson said he's lived in the Watts' neighborhood nearly seven years but would only talk to the Watts in passing.

Saudi Standing Committee Says Crypto Trading Illegal in Kingdom
In the statement published on the Saudi Arabian Monetary Authority's (SAMA) website, the committee made its stand crystal clear. The statement talks about cryptocurrency trading in general so other cryptocurrencies in the region are in hot water as well.

Google Invests $375M in Oscar Health for Medicare Advantage
At the time, the startup had been able to raise funds to the tune of $900 million and garner a market valuation of $3.2 billion. Prior to this investment by Alphabet, Oscar had secured funding from two business divisions of Alphabet just a few months ago.

Kasey Kahne stepping aside as full-time NASCAR driver after 2018 season
He he also won eight second-tier XFINITY Series races and five Camping World Truck Series events out of six starts. Kahne is 28th in the points standings, and his best finish this year was fourth at Daytona in July.

Trump signs defense policy bill with watered-down China measures
We will remind, earlier project in the United States defense budget in 2019 financial year was supported by the us Senate. And just hours after signing the military spending bill Monday, he did the same thing at a fundraiser in upstate NY .

NZ dollar dips as investor fears over Turkish economy ease
In the ruling it stipulated Brunson, who faces 35 years in jail over terror and espionage charges, will remain in detention. On Tuesday, he said the government is working on steps to help banks and support companies affected by the currency crisis.