Entrepreneurs are flocking to Toronto, Ontario in order to secure real estate for future cannabis retailer locations, CBC reports.
The rush is underway despite there being no official word from province officials about how it plans to manage the private cannabis retailer market.
“Ontario is a frenzy right now in terms of entrepreneurs, real estate developers — anybody within the cannabis infrastructure. … The level of anticipation that’s building up is massive right now.” —David Martyn, president of Starbuds Canada and Compass Cannabis Clinic, via CBC
Last month, Ontario officials announced they would be opening up the cannabis retailer market to private entities, which was a shift from former Premier Kathleen Wynne’s Liberal administration’s original plan. It remains unclear whether the province’s cannabis retail marketplace — under the new leadership of Premier Doug Ford — will be handled purely by private retailers or if there will also be government-run shops.
“We can assure you, though, that the government has been working to launch a cannabis retail and distribution system to meet the federal legalization timeline of October 17, 2018.” — Scott Blodgett, spokesperson for the Ontario Ministry of Finance, in the report
Adult-use cannabis will become legal throughout Canada on October 17, 2018.