Canada Prepares for #420:
Canadian #Cannabis Companies Open Their Doors for April
Stocks Discussed -
Westleaf Inc. (TSXV: $WL.V) (OTCQB: $WSLFF), Choom Holdings (CSE: $CHOO.C) (OTC: $CHOOF), Fire & Flower Holdings
Corp. (TSXV: $FAF.V), Lift & Co. Corp.
(TSXV: $LIFT.V) (OTC: $LFCOF)
Point Roberts WA,
Delta BC – April 3, 2019 - Investorideas.com, a leading investor news resource covering
hemp and cannabis stocks releases the first of a two part series focusing on
the Canadian cannabis landscape as companies prepare to have stores open and
products available for April 20th (aka 420); the preeminent cannabis
celebration.
Recreational cannabis
may have been legalized in Canada on October 17th, 2018 but there is still much
to be desired with regards to infrastructure and retail availability. That is
thankfully about to change because many companies throughout Canada are now in
the final phases of retail and product development, and most are using the
month of April for a promotional launch platform as many Canadian’s gear up for
420.
Westleaf Inc. (TSX-V: WL) (OTCQB: WSLFF), set to become one of Western Canada’s largest
premium cannabis retailers, is looking to make the most of April. They announced plans to open two Prairie Records stores in Saskatoon by
April 20, in celebration of the day that was synonymous with cannabis
legalization activities. Under a license agreement, the two stores are being
built out under the Prairie Records
brand by the current license holders. Prairie
Records currently has a store operating in Warman, Saskatchewan,
approximately 20 minutes from Saskatoon.
Read this in full at https://www.investorideas.com/news/2019/cannabis/04031Stocks-Canada.asp
"Saskatoon and
all of Saskatchewan is proving to be one of the strongest cannabis retail
markets in Canada as the sector continues to evolve and mature," says
Scott Hurd, President and CEO of Westleaf. "We have the opportunity to
deal directly with licensed producers in stocking our shelves, we are able to
sell online across the province through our e-commerce platform, and the ratio
of stores to market size make Saskatoon an ideal location to operate cannabis
retail."
The two stores, both in premium locations are
planned to open in time to celebrate April 20th, the day associated
with the push to legalize cannabis. "While Prairie Records creates
a unique and totally different cannabis retail experience, we do want to
recognize the day that activists used to bring attention to the injustice of
the illegalization of cannabis for many years," noted Adam Coates, Chief
Commercial Officer at Westleaf. "We are planning some exciting events
around the opening of these stores, bringing together the community in
celebration of local music and to highlight the relationship between music and
cannabis."
Aurora
Cannabis recently released an update on its investment
activities in Choom Holdings (CSE: CHOO) (OTC: CHOOF), a consumer cannabis
company connected to the largest retail network in Canada.
Aurora invested $27 million in the Choom’s
private placement and the convertible debenture offering. During the past year,
Choom secured 22 cannabis retail opportunities in Alberta and British Columbia
and completed the acquisition of Clarity Cannabis Medical Centres, which
included five new medical centers and a telemedicine platform.
Last month, the company completed the
build-out of a customized e-commerce channel through a licensed
enterprise-level platform and signed a deal to acquire Clarity Cannabis Retail
Stores in Alberta, adding 30 retail locations in Alberta, 3 of which have been
licensed by the Alberta Gaming, Liquor & Cannabis Commission.
Fire & Flower Holdings Corp. (TSXV: FAF), announced the opening of Fire
& Flower York Street Cannabis, Ontario's first Fire & Flower branded
store in Ottawa's ByWard Market on April 1st. This location is the tenth Fire
& Flower branded licensed cannabis shop in Canada, and recently achieved opening day system sales
in excess of $50,000.
"Today is an
exciting day for Fire & Flower as we introduce our retail experience to the
Ontario market and marks another important stage of our growth strategy,"
shared Trevor Fencott, Chief Executive Officer of Fire & Flower. "Our
retail team has worked alongside our Ottawa license holder to build out a
best-in-class cannabis retail shop as private cannabis retail is introduced to
consumers in Ontario."
It’s one thing to have these stores open but they will
need employees to work them. As Ontario launched its cannabis retail sales on April 1, 2019, Lift & Co. Corp. (TSXV: LIFT) (OTC: LFCOF) announced that the Company has granted more
than 600 CannSell certificates to the Province's aspiring cannabis retail
employees since launching CannSell just
over one month ago. In total, more than 1,500 Ontarians have created a CannSell
profile, and nearly 800 have enrolled in the mandatory, accredited training
program that the CBC calls
"like Smart Serve, but for cannabis." Interest in CannSell has
accelerated leading up to the opening of Ontario retail stores on April 1, with more than a third of CannSell sales and
certificates coming within the last week.
These announced numbers signal an overwhelming demand by
prospective budtenders to enter the industry and the Company's ability to
influence them through CannSell. Cannabis retail employees play a central role
in cannabis purchases. A recent US survey indicates that more than 90% of
consumers strongly consider the retail employee's recommendation when making a
cannabis purchase.
Canadian legal recreational cannabis is still very much in
its infancy stage but with the many dispensary and retail operations expected
to open in April and May, both investors and Canadian consumers will have a
chance to really see what national recreational cannabis looks like. This
year’s 420 celebration will be one for the books as many Canadian cannabis
enterprises look to celebrate the end of a long wait and for the Canadian
cannabis industry to really take off and mature.
For investors
following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX
Marijuana/Hemp Stocks
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