Supreme Cannabis Company Inc. (The) T.FIRE

BNN and ONTARIO

[jfogarty12]

Ontario Premier Doug Ford fires back at cannabis critics, pledges to lead country in pot shop outlets  
Ontario Premier Doug Ford has some sharp words for cannabis company executives who blamed Ontario for its part in causing an industry-wide slump last year. “Maybe I’ll shoot back a little bit. They didn’t have the supply ready,” Ford said during an interview on BNN Bloomberg Thursday. “Keep in mind it’s only been a little over a year and a bit and we’re opening up to the market.” Ontario currently has 28 legal pot stores open, compared with 402 in Alberta, but provincial regulators have more than 600 applications for new pot shops licences waiting for approval. “We’re going to open up stores,” Ford said. “We’re going to have more stores than all the provinces combined, so we’re going to make everything we can to help the cannabis industry.”

 

Ontario households spent $2.3 billion in pot in 2018 
Ontario announced its third-quarter financial results for its fiscal 2019-2020 on Thursday, stating that cannabis represented 0.27 per cent of provincial nominal GDP in 2018. Cannabis household expenditures have averaged a 0.46 per cent share of Ontario’s GDP since 1981, the government said in a release. Total household spending on cannabis in 2018 in Ontario, Canada’s most populous province was estimated to be $2.3 billion, compared to $0.9 billion in 1981, according to Statistics Canada. That represents an average annual growth rate of 2.7 per cent, the Ontario government said.

[Vulcan]

Great to see.. ford ensures we will have more pot shops than all other provinces combined.. 600 applicants in process for approval.. this time next year it will be a far dif story. We are ready.. in the meantime.. the build up will be reflected in financials quarter to quarter.. jmho glta longs