Canadian Marijuana – A Canadian company says they plan to sell cannabis in convenience stores: but can they actually do that? The question is more complicated than one might think.
The thing is, all of the Canadian Marijuana sold legally in Canada currently under their medical marijuana program is sold through companies that have won official licensing through Health Canada. When legal recreational cannabis opens for business in the country sometime next summer, consumers will have very narrow options: they will only be able to buy legally from dispensaries that are operated by the government. Though commercial dispensaries have opened up in many Canadian metropols in recent years, they aren’t legal and often face unexpected closures.
Cannabis Wheaton wants to change that by giving more buying options to Canadians: the “cannabis streaming company” (terms borrowed from the precious metals industry, it essentially means that they have deals with producers to produce assets at a fixed price) has announced a marijuana distribution deal with a pharmaceutical chain in a series of press releases. The deal may be a bit shady, though; Cannabis Wheaton plans to use the assets of the as yet unnamed pharmacy chain, with over 350 locations nationally, to sell cannabis. It’s an attractive deal for a pharmacy, which already sells products like tobacco and alcohol, which require age verification. But what is Cannabis Wheaton offering in return? The option to buy some of their stocks.
The idea is mostly in the idea stage at this point; whether or not it could or will actually come to fruition is hard to tell. But what we do know is that the PR has definitely lead to a bump in stock prices of around five percent. Could it just be an elaborate stock plan, or one that might actually provide a much needed and desired service for Canadians? It’s hard to say.