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News about Medical marijuana in Canada

Ontario cannabis retail regulator doubles licence issuances to 10 per week

Ontario cannabis retail regulator doubles licence issuances to 10 per week The Alcohol and Gaming Commission of Ontario (AGCO) has begun issuing 10 new cannabis store licences a week, double its previous total, in a move that will likely accelerate the expansion of the province's pot retail network. The AGCO, which regulates Ontario's cannabis retailers, said it has issued 194 retail store authorizations, with 173 of those leading to pot stores that are currently open. In a statement, the AGCO added that it will continue to work with the Ontario government to "increase the number of cannabis Retail Store Authorizations (RSAs) that can be issued each month." Analysts expect Ontario to end the year with more than 250 open cannabis stores, with another 500 expected in 2021.  Virus-free. www.avg.com

New cannabis users flock to legal pot market, but prefer flower above all

New cannabis users flock to legal pot market, but prefer flower above all It turns out going legal has drawn some new customers to the cannabis market. A new report from Brightfield Group found that "newbies," or those who have only consumed cannabis since the drug was legalized in late 2018 are representing an increasingly-larger share of the legal market, a sign that it is garnering increased consumer interest in Canada. That's likely due to the recent advent of cheaper products, better known as the "value" segment, priced to compete directly with the illicit market. Meanwhile, the survey also found that dried flower products were the most popular for new cannabis users, with 43 per cent of "newbies" polled purchasing pot in that fashion, outpacing its other defined categories; gummies, chocolate and vapes.  Virus-free. www.avg.com

Canada sells over $231M of legal cannabis in July, biggest monthly jump since legalization

Canada sells over $231M of legal cannabis in July, biggest monthly jump since legalization More than $231 million worth of cannabis was sold in Canada in July, up 15.2 per cent from the prior month, according to Statistics Canada on Friday. The monthly increase is the biggest gain since cannabis was legalized in Canada in Oct. 2018, while the July figure represents an annualized run rate of $2.78 billion. All 10 provinces and all three territories reported a monthly sales gain in July for the second straight month, the StatsCan data showed. Ontario led the country with $60.3 million in cannabis sales in July, up 23.5 per cent from June, while Alberta and Quebec were not far behind with $51.8 milion and $43.9 million sold, respectively. On a daily purchase rate, sales were up 11.5 per cent in July from the prior month. Stifel analyst Andrew Carter said the sales data showed that Canada's cannabis market should grow to $2.5 billion in sales in 2020, up 113 per cent from 2019.  Virus-free. www.avg.com

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Canadian Marijuana Index

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