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Stockmoves1on Aug 14, 2018 9:54am
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NP says Aphria, rivals see Ontario abandon Lib pot plan
2018-08-14 09:31 ET - In the News
See In the News (C-APH) Aphria Inc
The National Post reports in its Tuesday edition that Ontario is abandoning the previous Liberal plan for a government-owned monopoly on legalized marijuana sales. The Post's Geoff Zochodne writes that the provincial government's proposal for recreational cannabis aims for on-line sales by the province at first, but eventually to allow for the private sector to open bricks-and-mortar pot shops. Finance Minister Vic Fedeli said: "The Government of Ontario will not be in the business of running physical cannabis stores. Instead, we will work with private-sector businesses to build a safe, reliable retail system that will divert sales away from the illegal market." Monday's announcement follows the election of Premier Doug Ford and the Progressive Conservatives and reverses the plan of the previous Liberal government, which wanted to give the Liquor Control Board of Ontario a monopoly on the sale of recreational cannabis. Under the new approach, Canada's most populous province will still start selling cannabis on-line on the legalization date of Oct. 17, using a website run by the provincially owned Ontario Cannabis Store (OCS). The OCS will act as wholesaler and provide cannabis to the private-sector stores.