HITI - Ontario Doubles Retail Weed Cap More US States Eye Joining Cannabis Legalization Wave | Benzinga
Ontario Doubles Cannabis Store Cap Boosting Retail Opportunities
Ontario government has made changes to Ontario Regulation 468/18 under the Cannabis Licence Act of 2018, allowing cannabis retailers in the province to operate a maximum of 150 stores.
Raj Grover, founder and CEO of Calgary-based cannabis retail giant High Tide Inc. (NASDAQ:HITI) (TSXV:HITI) (FSE: 2LYA) praised the move on Tuesday.
“We welcome Ontario’s move today to make good on its previously stated intent to double the provincial store cap to 150," Grover said. "The increase comes as some operators who have a franchise model are already approaching, or have exceeded, 75 stores in the province."
Grover said Ontario’s cannabis retail market is set to benefit from the move, as it aligns the province with Alberta, Saskatchewan, and Manitoba. These provinces have already proven their success in curbing the illicit market, primarily because they lack restrictions on the number of stores, he added.
Third Legalization Attempt Brings New Hope For Cannabis Activists In South Dakota
A new push to legalize cannabis in South Dakota is poised to gain traction now that state officials have green-lighted paid canvassers to start gathering signatures for a 2024 marijuana legalization ballot initiative.
The secretary of state's office recently approved a handout being used by South Dakotans for Better Marijuana Laws (SDBML). In addition to having a base of volunteers statewide that are already ...