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Bullboard - Stock Discussion Forum Nova Cannabis Inc Com YSSCF

YSS Corp is a retailer and trusted destination for adult-use cannabis in Canada, focused on driving near-term growth while building long-term shareholder value. The company has built a strategic portfolio of Licensed Retail Stores across Alberta and in Saskatchewan and intends to expand into Ontario as well as other Canadian markets. Management is focused on strategic opportunities within the... see more

GREY:YSSCF - Post Discussion

Nova Cannabis Inc Com > HEADS UP- Any time SOLO will spike
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Post by AbrahamST on Apr 29, 2019 1:14am

HEADS UP- Any time SOLO will spike

https://www.cbc.ca/news/canada/calgary/cannabis-retail-regulations-alberta-1.4538542

Alberta expects to license 250 cannabis stores in first year

Anyone who wants to run a weed shop must undergo extensive background checks, Alberta government says

 
Justice Minister Kathleen Ganley, left, revealed details of Alberta's legal cannabis regulations in Calgary on Friday, saying public safety is the primary focus of Alberta's legal cannabis regulations. (CBC/David McNew, Getty)

The Alberta Gaming and Liquor Commission says it expects to issue 250 licences to cannabis stores across the province in the first year of legalization, but anyone wanting to sell cannabis products will have to undergo mandatory background checks and training.

Justice Minister Kathleen Ganley revealed details at a press conference in Calgary. The province says public safety is the primary focus of Alberta's legal cannabis regulations.

"These regulations will help support four policy priorities — keeping cannabis out of the hands of children, protecting public health, promoting safety on roads, in workplaces and in public spaces, and limiting the illegal market," Ganley said.

 

The province set the same operating hours for cannabis retails stores as that of liquor stores — between 10 a.m. and 2 a.m., and the buffer zone between cannabis stores and any school or provincial health-care facility has been set at 100 metres.

However, the province says, municipalities will have the ability to adjust both operating times and buffer zones to best suit the needs of their communities.

The province also says all stores will have to have mandatory security measures in place, like alarms and video surveillance. Stores will be allowed to display cannabis products only in locked showcases that are accessible only to staff.

250 licences in first year

The Alberta Gaming and Liquor Commission will oversee the distribution and enforcement of the province's cannabis retail system. It will also be responsible for online sales, but the details of how the online services will operate won't be released until later this year.

The AGLC estimates that in the first year it will issue 250 licenses, which will have to be renewed annually at a cost of $700 per year.

The agency will start accepting applications March 6. According to David Berry, vice-president of regulatory services, each application must be submitted with a criminal background check consent, detailed financial information and associated fees.

"Conviction such as trafficking, or producing illegal drugs, or associations to organized crime or violence will make someone ineligible for a retail licence," Ganley said.


According to the provincial regulations, no one business or person can hold more than at 15 per cent of licences "to help create a level playing field," Ganley said.

Retailers will only be allowed to employ qualified workers who have passed background checks and undergone an online Sell Safe course, which takes four to six hours to complete. 

Pricing not yet set

Premier Rachel Notley's government has already passed a bill outlining Alberta's plan for pot retail regulations. Bill 26, An Act to Control and Regulate Cannabis, sets the minimum age of consumption at 18, the province's legal drinking age.

Anyone under that age cannot enter a cannabis store, even if accompanied by an adult.

The federal government earlier set the legal possession limit at 30 grams, but so far, no price points for the sale of cannabis have been set.

Berry said pricing will be based on the markets, and stores will ideally have flexibility over their pricing, but the AGLC has the ability to set a floor.

 
Comment by TheDiggs on Apr 29, 2019 1:39pm
Spike anytime? This PR is over a year old.
Comment by Trix4Kids on Apr 29, 2019 2:06pm
Great to see this!
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