September 11, 2017
Partner and head of our Life Sciences Practice Cheryl Reicin told the Financial Post and Calgary Herald the move by the Ontario Government to open 150 marijuana retails stores by 2020 could see a spike in investment by the banks.
The Ontario Government announced on September 8 it would control the distribution of marijuana through LCBO-run brick-and-mortar and e-commence stores.
“I think having the LCBO as the sole customer rather than a bunch of dispensaries…is going to provide (the banks) with the comfort they need to eventually jump in to this industry and provide services to this industry,” Cheryl said.
“The online, I think, really makes this compelling,” she said.
The online component of the government’s plan could be a “big boon” for the cannabis industry, according to Cheryl, which would create more avenues to sell the product across the province.
For a comprehensive summary of all the team’s insights on cannabis developments, head to the Torys cannabis industry page.
Read our summary of the Canada’s proposed cannabis framework released by the federal government in April by heading to the Torys website.
You can read our analysis on raising capital and investing in the cannabis industry on the Torys website.