Westleaf Inc. WSLFF

Westleaf is a Canadian cannabis company focused on cannabis brands, extraction and production of derivatives, wholly owned retail, as well as cannabis cultivation. The Company’s extraction and processing facility, The Plant, will produce high quality and consistent cannabis derivatives and consumables, both for Westleaf’s in-house brands as well as white label products. Westleaf’s retail concept, Prairie Records, leverages the instinctual tie between recreational cannabis and music.

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Westleaf Inc. > Is this legal?

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Comment by QcTraderon Jan 03, 2020 7:39am

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Post# 30514366

RE:Is this legal?

id say 70% of those retailers are doing similar things where insiders from one corporation has interest in other retailers and they end up getting acquired by the other...

Marijuana is a small world....... lots of inbred

Mainstreet wrote: I was surprised to find out while researching future Westleaf/Prairie Records stores to see that in the same article that mentions that Westleaf was the selected retailer to receive a Cannabis Retail Licence for Altona, that a Matzelle Holdings Ltd was named the Standby Retailer for Lac Du Bonnet, Manitoba. I recognized the name, and checked the registry to confirm that Matzelle Holdings is an Alberta company with one shareholder, Warren Matzelle, Director of Retail Operations of Westleaf.

https://www.cbc.ca/news/canada/manitoba/rural-manitoba-cannabis-retailers-announced-1.5138581

Since then, Matzelle Holdings Ltd. became the Cannabis Retail licence holder for Lac Du Bonnet when the original selected retailer opted out.

In an already competitive business, seems like a red flag that a public company would also be competing against their own Director of Retail Operations who is applying for Retail Cannabis Licences personally? Might be an explanation that I'm not considering, but to me seems like a conflict of interest or violation of a non-compete I'd assume would be in place? The only thing I could think would be if they were trying to broaden their net in applying for licences by having Directors apply personally as well. However you'd think Westleaf would announce that they received that licence in that case, like they did with the Altona one.