Ontario reveals pot store lottery winners, proposed stores’ addresses
Ontario released results of its second cannabis retail lottery on Wednesday, revealing the 42 winners who were selected from a pool of 4,684 expressions of interest. That compares to more than 17,000 applications for just 25 licences when the province held its first draw earlier this year. This time around, applicants were required to show evidence that they secured retail space, and that they have enough capital to open it. The randomly selected winners now have until Aug. 28 to apply for a licence with the Alcohol and Gaming Commission of Ontario.
NAC’s retail sales top $50 million since legalization
National Access Cannabis (NAC) says its sales have surpassed $50 million since recreational marijuana was legalized last October. In a sales update released Wednesday, the country’s largest pot retailer said it plans to have 40 stores operating by the end of 2019 and expand to 110 by the end of next year. Currently, NAC has 30 retail locations open in Alberta, Manitoba and Saskatchewan, and another five stores in development under its NewLeaf banner.
Ed note: An earlier version of this story incorrectly identified which banner NAC's stores in development are under. BNN Bloomberg regrets the error.
Tilray inks deal to export US$3.3M of cannabis from Portugal to Germany
Tilray has signed a deal with Cologne, Germany-based cannabis wholesaler Cannamedical Pharma to supply medical cannabis to the German market. Under the agreement, Nanaimo, B.C.-based Tilray will export US$3.3 million worth of cannabis from its production facility in Portugal. The move is part of Tilray’s efforts to ramp up international distribution through the end of 2019.
DAILY BUZZ
$2.50
-- The price of CannTrust’s stock when it listed two years ago. Exactly two years after its debut, shares in the Vaughan, Ont. pot firm are now trading below that price amid a regulatory scandal that has engulfed the company.
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