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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.
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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 fighting for the cause, the campaign is paying “a small team of circulators” to aid in collection signatures, Matthew Schweich, SDBML director told Marijuana Moment, “the full-scale paid signature drive” is yet to be launched.
Following two previous attempts to legalize cannabis, this campaign is now making its third effort at the ballot.
Last year, South Dakota failed to pass a Senate bill that would have legalized adult-use cannabis. In November 2020, the majority of South Dakotans, that is 54%, backed the 2020 Constitutional Amendment, legalizing the adult-use possession and sale of cannabis. However, legalization did not happen as Governor Kristi Noem overturned the will of the people in one of several recent court challenges over wording in the initiatives.
Nebraska’s Cannabis Crusade: Activists Refuse To Give Up
Meanwhile, in Nebraska, cannabis activists are tireless in their efforts to amend the state’s cannabis law.
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Nebraskans for Medical Marijuana‘s volunteers collecting signatures to place their ballot cannabis initiative before voters this November recently reported having gathered roughly 50,000 thus far, reported WOWT.
The deadline for filing the initiative petition is July 3, to appear on the Nov. 2024 ballot. MMJ advocates launched their third petition campaign in September.
NMM’s campaign manager, Crista Eggers, said at the time the legalization of medical cannabis didn’t have an alternative.
“There’s just no choice,” Eggers told Marijuana Moment in a phone interview. “I keep calling it the final time—not because there would be any giving up, but this is the final time. We’re going to get it done.”
California Lawmakers Consider Streamlining Cannabis Licensing
California legislators will consider whether to simplify the procedure for acquiring permits to cultivate and sell cannabis, aiming to support small companies.
California’s current approach of granting provisional licenses for cannabis cultivation and retail is about to change, making their consideration all the more critical, The Hill’s Sharon Udasin writes.
However, Senate Bill 508 from State Sen. John Laird (D) which is up for consideration by the state lawmakers proposes to consolidate the mandatory environmental review process to expedite permitting.
Sarah Dukett, cannabis policy lead for the Rural County Representatives of California group wants the same.
“We have a lot of people in the queue,” Dukett said. “We want to make sure we can issue annual licenses as soon as possible.”
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Ready for your shot at the next potential 32%, 39% or 45% gains in today’s market? You’re about to miss Stock Expert Gianni Di Poce’s 3 latest stock ideas… Ones that could shift your entire wealth-building journey. If you’re ready to end 2023 strong with 12 hot stock ideas every single month. ACT FAST.
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