Alberta ‘well ahead’ of rest of Canada in cannabis retail: Notley

2018 was certainly a bleak year for Alberta’s economy amid slumping oil prices – but there was one relative bright spot, according to Premier Rachel Notley. In a year-end interview with CTV Calgary, Notley said the province appears to be “well ahead of the rest of the country” in marijuana retail. As of Jan. 1, there were 65 licensed retailers in the province, according to the Alberta Gaming and Liquor Corporation, which licenses brick-and-mortar stores. By comparison, B.C. is only opening its second store this week, and Ontario – Canada’s most populous province – is allowing up to 25 stores when private retail locations are permitted to open in April.

Ontario releases retail licence lottery rules

The rules for Ontario’s pot licence lottery have been unveiled. Some of the regulations announced by the Alcohol and Gaming Commission of Ontario on Wednesday were expected, including required distances from schools. However, the AGCO also announced that licences would only be granted for stores located in municipalities with a population of over 50,000 according to the 2016 census. The rules also included stiff penalties if a successful applicant is unable to open its retail location by April 1, 2019. Those penalties could reach as high as $50,000 if successful applicants are not selling cannabis by the end of April 2019.

SOL Global invests in Europe’s GreenLight Pharmaceuticals 

SOL Global is investing 1.8 million euros to acquire a 25 per cent stake in GreenLight Pharmaceuticals, a Dublin-based medical cannabis company with a seed genetics program and CBD brand. The deal includes an option for SOL Global to increase its stake to 51 per cent, and another option for a 75 per cent stake in a GreenLight unit if it obtains a cultivation license in Ireland or Northern Ireland, where the government is debating legalizing medical marijuana. SOL Global, which is listed on the Canadian Securities Exchange, recently made headlines after being accused by short sellers of selling several Latin American assets at allegedly “vastly inflated” prices to Leamington, Ont.-based Aphria.

Green Growth seeks to dispel short sellers’ criticism of Aphria offer

In case you missed it on New Year's Eve, Green Growth Brands attempted to dispel some of the questions surrounding its intent to launch a takeover offer for Aphria. Columbus, Ohio-based Green Growth said on Dec. 27 it was planning to make a $2.8-billion unsolicited takeover offer for the beleaguered Canadian pot producer. Hindenburg Research, the short seller that previously took aim at Aphria, has raised questions about ties between the two companies. But in an interview with Bloomberg’s Natalie Obiko Pearson, Green Growth CEO Peter Horvath said his company’s biggest shareholder – the Schottenstein family – does not own any Aphria stock and tried to address investors’ doubts. “This is an appropriate transaction,” Horvath told Bloomberg. “I feel everything’s fine, above board and transparent.” His comments come as investors continue to await Aphria’s promised line-by-line rebuttal to Hindenburg and Quintessential Capital Management’s allegations against Aphria.