POINT ROBERTS, Wash. and DELTA, British Columbia, April 03, 2019 (GLOBE NEWSWIRE) -- Investorideas.com, a leading investor news resource covering
hemp and cannabis stocks releases the first of a two part series focusing on the Canadian cannabis landscape as companies prepare
to have stores open and products available for April 20th (aka 420); the preeminent cannabis celebration.
Recreational cannabis may have been legalized in Canada on October 17th, 2018 but there is still much to be desired with regards
to infrastructure and retail availability. That is thankfully about to change because many companies throughout Canada are now in
the final phases of retail and product development, and most are using the month of April for a promotional launch platform as many
Canadian’s gear up for 420.
Westleaf Inc. (TSX-V: WL) (OTCQB: WSLFF), set to become one of Western Canada’s largest premium cannabis retailers, is
looking to make the most of April. They announced plans to open two Prairie Records stores in Saskatoon by April 20, in celebration of the day that
was synonymous with cannabis legalization activities. Under a license agreement, the two stores are being built out under the
Prairie Records brand by the current license holders. Prairie Records currently has a store operating in Warman,
Saskatchewan, approximately 20 minutes from Saskatoon.
"Saskatoon and all of Saskatchewan is proving to be one of the strongest cannabis retail markets in Canada as the sector
continues to evolve and mature," says Scott Hurd, President and CEO of Westleaf. "We have the opportunity to deal directly with
licensed producers in stocking our shelves, we are able to sell online across the province through our e-commerce platform, and the
ratio of stores to market size make Saskatoon an ideal location to operate cannabis retail."
The two stores, both in premium locations are planned to open in time to celebrate April 20th, the day associated
with the push to legalize cannabis. "While Prairie Records creates a unique and totally different cannabis retail
experience, we do want to recognize the day that activists used to bring attention to the injustice of the illegalization of
cannabis for many years," noted Adam Coates, Chief Commercial Officer at Westleaf. "We are planning some exciting events around the
opening of these stores, bringing together the community in celebration of local music and to highlight the relationship between
music and cannabis."
Aurora Cannabis recently released an update on
its investment activities in Choom Holdings (CSE: CHOO) (OTC: CHOOF), a
consumer cannabis company connected to the largest retail network in Canada.
Aurora invested $27 million in the Choom’s private placement and the convertible debenture offering. During the past year, Choom
secured 22 cannabis retail opportunities in Alberta and British Columbia and completed the acquisition of Clarity Cannabis Medical
Centres, which included five new medical centers and a telemedicine platform.
Last month, the company completed the build-out of a customized e-commerce channel through a licensed enterprise-level platform
and signed a deal to acquire Clarity Cannabis Retail Stores in Alberta, adding 30 retail locations in Alberta, 3 of which have been
licensed by the Alberta Gaming, Liquor & Cannabis Commission.
Fire & Flower Holdings Corp. (TSXV: FAF), announced the
opening of Fire & Flower York Street Cannabis, Ontario's first Fire & Flower branded store in Ottawa's ByWard Market on April 1st.
This location is the tenth Fire & Flower branded licensed cannabis shop in Canada, and recently achieved opening day system sales
in excess of $50,000.
"Today is an exciting day for Fire & Flower as we introduce our retail experience to the Ontario market and marks another
important stage of our growth strategy," shared Trevor Fencott, Chief Executive Officer of Fire & Flower. "Our retail team has
worked alongside our Ottawa license holder to build out a best-in-class cannabis retail shop as private cannabis retail is
introduced to consumers in Ontario."
It’s one thing to have these stores open but they will need employees to work them. As Ontario launched its cannabis retail
sales on April 1, 2019, Lift & Co. Corp. (TSXV: LIFT) (OTC: LFCOF)
announced that the Company has granted more than 600 CannSell certificates to the Province's aspiring cannabis retail
employees since launching CannSell just over one month ago. In total, more than 1,500 Ontarians have created a
CannSell profile, and nearly 800 have enrolled in the mandatory, accredited training program that the CBC calls "like Smart Serve, but for cannabis." Interest in CannSell has accelerated leading up
to the opening of Ontario retail stores on April 1, with more than a third of CannSell sales and certificates coming within the
last week.
These announced numbers signal an overwhelming demand by prospective budtenders to enter the industry and the Company's ability
to influence them through CannSell. Cannabis retail employees play a central role in cannabis purchases. A recent US survey
indicates that more than 90% of consumers strongly consider the retail employee's recommendation when making a cannabis
purchase.
Canadian legal recreational cannabis is still very much in its infancy stage but with the many dispensary and retail operations
expected to open in April and May, both investors and Canadian consumers will have a chance to really see what national
recreational cannabis looks like. This year’s 420 celebration will be one for the books as many Canadian cannabis enterprises look
to celebrate the end of a long wait and for the Canadian cannabis industry to really take off and mature.
For investors following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC,
NASDAQ, NYSE, ASX Marijuana/Hemp Stocks
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