Emblem Corp EMMBF

Emblem and Other LPs form retail co-op

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https://www.newswire.ca/news-releases/canadas-licenced-producers-of-medical-cannabis-form-retail-cooperative-canadian-cannabis-co-op-will-provide-investment-jobs-and-safe-regulated-cannabis-to-alberta-and-beyond-649557363.html

EDMONTON, Oct. 5, 2017 /CNW/ - Twelve of Canada's leading Licenced Producers of medical cannabis today announced the creation of the Canadian Cannabis Co-op. The Co-op is prepared to make a significant investment in Alberta to create a turn-key retail solution to address the challenges of safe, regulated supply and socially-responsible cannabis retailing. 

 

We welcome yesterday's announcement by the Government of Alberta and we look forward to participating in the province's consultations on the distribution and sale of recreational cannabis.  We commend the province for expanding consultations with residents of Alberta – this is a responsible approach that will ensure the province gets the retail model right.

As representatives of key Licensed Producers in Canada, we believe that all provinces and territories would benefit from a private, heavily regulated, retail model that allows cannabis consumers to make informed decisions on the products they wish to purchase with a high level of variety, sold by well trained and educated staff.

"The Co-op is encouraged to hear of Alberta's expanded consultation on recreational cannabis retailing as it provides us a forum to speaking with Albertans and their elected officials about the Co-op and how it can exist alongside other private sector or Crown efforts that may be under consideration," noted Darren Karasiuk, Chair of the Co-op working group. "We believe that private and independent retailers, like the Canadian Cannabis Co-op, is a model that serves the best interest of Albertans."

The Co-op was driven by a shared understanding that Canada's LPs have unparalleled experience in the cannabis industry, access to the resources required to execute a retail strategy before July 1st of 2018 and a collective desire to positively help shape a production, distribution and retail model that is purpose-built for Alberta.

The Co-op's vision is to act as just one of many private retail channels which will serve the needs of Albertans, alongside other independent, yet heavily regulated options.

The Co-op – both a bricks and mortar retail presence as well as secure e-commerce platform - could see Alberta benefit from the direct investment of tens of millions of dollars in infrastructure, the creation of over 500 near term jobs providing over 30 million dollars in wages as well as a significant dividend to the Province, all under strict oversight of Alberta'sregulators.

"We believe The Co-op model is a win for the government, the taxpayer and the consumer. It requires no taxpayer dollars, creates hundreds of direct jobs, generates a revenue stream for government above direct taxation and can be put in place by July 1st of 2018 ensuring Albertans have access to safe, regulated cannabis from a diverse group of companies," noted Karasiuk. "Alberta is the perfect place to launch the Canadian Cannabis Co-op. which we believe will be an example that other provinces follow as we move closer to legalization."

Current membership of Co-op includes representation from coast-to-coast both large and craft producers.  All LPs are welcome to join the Co-op and we look forward to hearing from other potential retail and distribution partners who wish to join.

Canadian Cannabis Co-op includes: ABCann, Aphria, Bonify, CannTrust, Cronos Group, Emblem, Emerald, Hydropothecary, MedReleaf, Newstrike (Parent Company of Up Cannabis), Organigram, and Tilray.