Cannabis Prospect Magazine - September '21 - Issue #16

Page 28

Provincial Updates/

Ontario

In late June, the Ontario Cannabis Store (OCS) published A Year in Review (April 1, 2020 – March 31, 2021) as a resource for the entire legal cannabis industry in Ontario. As a result of continued growth in retail store openings, Ontario’s legal share of the recreational market nearly doubled from 20% during the 2019 – 2020 fiscal year to 37.6% in this past fiscal year. This last quarter, Ontario’s legal share of the recreational market increased by 1% point compared with Q3, reaching 44%. Total sales were $840,100,000 (Retail Stores - $707,600,000, OCS.ca $132,400,000). 59% of sales represents dried flower, 16% - vapes, 12% pre-rolls, 4% edibles, 4% oils, 2% beverages. More detailed information can be found at OSC.ca.

Manitoba

In mid-July, Manitoba Justice advised the attorney general has brought a lawsuit seeking an interim and permanent injunction against Indigenous Bloom Long Plain GP Ltd. and its owners, Long Plain First Nation, and Indigenous Bloom CGT Corp., to stop the unlicensed sale of unregulated cannabis products and apply one set of rules to everyone. The attorney general takes this step in the public interest, given his unique role and function. To protect public health and safety, to protect the integrity of the established legal framework for cannabis sales in Manitoba. Statistics Canada’s latest sales data shows that legal sales of cannabis in Manitoba reached $11.9 million in April, up 3% from March. Manitoba posted substantial sales increases, with Manitoba’s online and in-store marijuana sales rising to $11.5 million, a 2.7% increase from a month earlier.

Alberta

Statistics Canada’s latest sales data shows that Alberta sales flatlined at a west-leading $58 million in cannabis sales, unchanged from March, Statistics Canada reports. Subsequent to the quarter end, closed the acquisition of Inner Spirit Holdings Ltd. and its Spiritleaf retail cannabis store network, establishing Sundial as one of Canada’s largest vertically integrated cannabis companies, whereby Sundial has acquired all of the issued and outstanding common shares of Inner Spirit Holdings Ltd. for consideration per Inner Spirit Share consisting of (i) $0.30 in cash and (ii) 0.0835 of a common share of Sundial.

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Cannabis Prospect Magazine | September 2021

Quebec

In fiscal 2020-2021, the SQDC’s overall sales totalled $537.2 million or 91,529 kg of cannabis, compared with $311.6 million or 46,863 kg in the preceding fiscal year. Store network sales rose to $486.7 million or 82,873 kg of cannabis, while the SQDC’s transactional website generated sales of $50.5 million or 8,692 kg of cannabis. By the end of its 2020-2021 fiscal year, the Société québécoise du cannabis (SQDC) had not only converted nearly 53% of the illegal cannabis market but done so only two and a half years after opening for business, beating the target set in its Strategic Plan 2020-2023. The company is thus fulfilling its mission of drawing users away from the underground cannabis market. The 53% figure is based on the annual demand for cannabis in Quebec, recently estimated at 173 metric tons by the Quebec Finance Department.

Saskatchewan

High Tide Inc. announced it has recently completed the acquisition of cannabis firm 102105699 Saskatchewan Ltd. The transaction is reported to be for consideration of $2.7 million, a slight dip from its previously announced $2.9 million deal. Statistics Canada’s latest sales data shows that legal sales of cannabis in Saskatchewan reached $13.4 million in April, up 5.4% from March and the second-highest month-over-month sales increase among western provinces.

British Columbia

New rules in British Columbia now allow privately owned cannabis retailers to offer home delivery as of mid-July. Industry sources say the move could help level the playing field between legal retailers and B.C.’s entrenched illicit market, which previously enjoyed limited competition for home delivery. Previously, only the government-run BC Cannabis Stores was allowed to offer home delivery. Statistics Canada’s latest sales data shows that national marijuana product sales hit British Columbia led all western provinces with a 13% increase, month over month, to $47 million in April.


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