British Columbia’s early sales of legal cannabis lagged neighbouring Alberta due to a slow rollout of legitimate retail and the inability to curb the illicit market in the province, according a new research report.
In his report, Adams wrote that legal retail outlets at the outset of legalization constitute “a drop in the proverbial bucket compared to the hundreds of ‘grey’ market unlicensed stores,” mostly in B.C. and Ontario. B.C.’s legal cannabis market will swell to $722 million in annual sales in an overall $5.2-billion legal Canadian market by 2024, with $708 million of that coming from the recreational side, according to Arcview. But that will depend on access to product.
On Dec. 13, B.C. Supreme Court Chief Justice Christopher Hinkson ordered the unlicensed shops to shut down and backed the City of Vancouver’s position that it has the authority to license and zone for the businesses. Larsen, who runs The Dispensary, with locations on Thurlow Street in the West End and on East Hastings Street, said the city has sent warning letters to his landlords about allowing the unlicensed businesses.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada’s Risky Housing Market Has Traded Places With The U.S., IMF SaysPolicymakers were right to tax foreign buyers and reduce how much you can borrow, a new report finds.
Source: HuffPostCanada - 🏆 61. / 53 Read more »
Buying blind: Cannabis marketing restrictions leave little brand awareness in the new recreational marketThe government’s rules on cannabis advertising are nothing if not strict. But that has also ensured that no major brand names have emerged yet, another reason for the sector’s slow start globebusiness This picture doesn’t represent the products being sold legally ... this is a image of the illegal marketplace ... I expect more out this news source globebusiness ecsvan globebusiness Not as if buying weed was an educated decision to begin with...
Source: globeandmail - 🏆 5. / 92 Read more »
50 Cent sells opulent Connecticut mansion after 12 years on marketRapper 50 Cent's 50,000-square-foot mansion in Connecticut that first went on the market 12 years ago has finally sold at a fraction of the original asking price. Anyone looking for him, you’ll find him in da club.
Source: CTVNews - 🏆 1. / 99 Read more »
Commercial Real Estate: Commercial property market stabilizingA lengthy period of runaway speculation in B.C.’s commercial property investment market has come to an end, with more modest economic fundamentals now driving purchases, according to Avison Y…
Source: VancouverSun - 🏆 49. / 61 Read more »
Five years later, the first pot stock is up 2,139 per cent since its market debutCanopy Growth is worth nearly US$15 billion
Source: nationalpost - 🏆 10. / 80 Read more »
In a slowing Toronto housing market, realtors feeling the pinchAs the deals dry up, some agents are quitting, getting rid of the fancy cars, or turning to side-hustles like driving for Lyft I wonder if it has something to do with everyone and their mother being agents these days. “Before … they had $20,000 income [a month], now they have $2,000 and they don’t know who to pay first.” ... Oh come on. DONT WORRY BE HAPPY!! THE 'HUMAN RIGHTS ABUSING!!' COMMUNIST CHINESE 'LAUNDERED BLOOD MONEY IN CANADA!!' IS JUST LOOKING FOR A NEW AREA IN CANADA TO MAKE IT UNAFFORDABLE FOR CANADIANS TO BUY A HOME!!?
Source: globeandmail - 🏆 5. / 92 Read more »
Tweaked days-on-market data paint a more accurate picture of Toronto real estateThe Toronto Real Estate Board rejigs the way it counts Days on Market – and adds an average 11 days
Source: globeandmail - 🏆 5. / 92 Read more »