Globe says Aurora, others see Alberta lay out its rules
2018-02-20 08:09 ET - In the News
See In the News (C-ACB) Aurora Cannabis Inc
The Globe and Mail reports in its Saturday edition that Alberta intends to limit how many retail cannabis licences one organization can hold in an effort to prevent industry powerhouses from dominating a market that is scheduled to be legalized later this year. The Globe's Carrie Tait and Jeffrey Jones writes that no person or group will be allowed to hold more than 15 per cent of the licences, the provincial government announced on Friday. Further, the proposed rules give the government power to set a floor price for recreational marijuana. The province estimates roughly 250 private retail marijuana stores will set up shop within its borders in the first year. The proposed regulations, according to Alberta, are designed to ensure public safety, shrink the black market and give small businesses a toehold in the sector. Ottawa had planned to legalize recreational cannabis by July 1, but now acknowledges that the market will not open until August or September. It is up to the provinces to address finer details such as age restrictions, much like liquor laws. Kathleen Ganley, Alberta's Minister of Justice, said Friday that the idea is to ensure that "no one is going to corner the market right away."
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