Cannabis retailer Fire & Flower closing 3 Alberta stores, reports CA$22.3M loss

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Canadian cannabis retailer Fire & Flower has implemented a restructuring plan that will see three stores in Alberta closed, a sign the province’s retail market is reaching a point of saturation. Alberta – with 449 points of sale for adult-use cannabis – is the only province in Canada to reach the one-per-10,000-people mark observed in other mature markets. By closing … Read More

Canadian bank slashes cannabis sales forecast to CA$2.5 billion for 2020

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One of Canada’s largest banks trimmed almost a billion dollars off its 2020 forecast for adult-use cannabis sales, mostly because of issues arising from a slow rollout of regulated stores in key provincial markets as well as locations shuttered because of the COVID-19 pandemic. CIBC Capital Markets, the investment banking subsidiary of the Canadian Imperial Bank of Commerce, sees recreational … Read More

Pandemic rent subsidy misses some cannabis retailers, Canadian business group warns

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A new federal program to lower rent by 75% for small businesses impacted by COVID-19 might not be helpful for some cannabis retail entrepreneurs, the Canadian Chamber of Commerce warned today. The program provides forgivable loans to cover 50% of monthly rent payments for the April-June period. Landlords will cover another 25% and tenants must cover the remainder. To be … Read More

Ontario expects farm-gate cannabis to launch post-pandemic; craft framework in works

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Ontario’s cannabis regulator is working with some producers to launch on-site stores at their facilities after the COVID-19 pandemic eases, and guidelines are in the works to apply to craft cannabis businesses. That was just some of the valuable information from a recent “ask me anything” (AMA) on Reddit with Ontario Cannabis Store Chief Commercial Officer Cheri Mara. Marijuana Business … Read More