Posted by AGORACOM-JC
at 11:00 AM on Thursday, January 9th, 2020
SPONSOR: NORTHBUD (NBUD:CSE)
Sustainable low cost, high quality cannabinoid production and
procurement focusing on both bio-pharmaceutical development and
Cannabinoid Infused Products. Learn More.
When CBD met chocolate
The health-conscious, environmentally-aware consumer has encouraged
new trends in the chocolate sector that affect flavour, texture and
harvesting. Greater Goods has gone one step further, infusing the
beloved food of the gods with CBD. Bethan Grylls hears from its
co-founder about why this combination works.
Indulgent, premium and good-for-you: these words will be familiar to
the modern-day confectioner as they look to address current trends1 and
differentiate themselves in a competitive market. Be it a new sensory
experience across taste, texture or colour; the lure of single-origin
sourcing; or a guilt-free treat, the realms of chocolate innovation and
buyer demands have stretched well beyond the days of penny sweets.
Some brands have taken things one step further, combining trends like
organic, fair trade and non-GMO confectionery, with the demand for CBD –
a term that was Googled 6. 4 million times during April 2019.2
Greater Goods, based in
Oregon, US, is one example, offering its customers a selection of
cannabinoid-infused ‘goodies’. Despite being a modest husband and wife
venture, the team says they are looking to compete against the larger
companies through hand-crafted, fun and unusually-flavoured products.
Posted by AGORACOM-JC
at 10:45 AM on Wednesday, January 8th, 2020
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Sustainable low cost, high quality cannabinoid production and
procurement focusing on both bio-pharmaceutical development and
Cannabinoid Infused Products. Learn More.
Canadians Bought 100 Tonnes Of Legal Cannabis In First Year
Canadians bought nearly 100 tonnes of legal recreational cannabis in its first year of availability, according to new figures released by Health Canada.
Health Canada said 88,676 kilograms of dried flower cannabis was sold
in Canada in the first year of legalization, according to its Cannabis
Tracking System. Overall sales of legal dried cannabis by weight have
nearly tripled since October 2018.
Statistics Canada said Tuesday that Canadian household spending on
cannabis totaled $1.27 billion in the third quarter of 2019, with the
illicit market accounting for $860 million of that figure and the legal
market estimated at $417 million.
While 100 tonnes may sound like a lot, the amount sold through legal
channels was far below what analysts projected Canadian demand would be,
a sign that the illicit market continues to weigh on legal sales. CIBC
World Markets said in mid-2018 that the Canadian market would demand
about 400,000 kilograms of legal pot annually, while the Bank of Nova
Scotia forecast total cannabis demand in Canada will be 900,000
kilograms this year.
Health Canada also said that the total active cultivation area for
cannabis in the country reached 1.78 million square metres at the end of
September, a sizable jump from the 452,896 square meters of cultivation
that was licensed for legal pot a year earlier. Nearly five million
cannabis plants were being grown by producers at the end of the first
year of legalization, Health Canada said.
Posted by AGORACOM-JC
at 5:00 PM on Tuesday, January 7th, 2020
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An established chain of high-end vape stores. Aggressive expansion
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More Canadians passing on beer in year one of legalization
The report cites data from industry advocacy group Beer Canada, which found beer volumes fell by three per cent through November. Declining sales have led to several partnerships between alcohol and cannabis companies, such as Constellation Brands Inc.’s investment in Canopy Growth Corp. in November 2018. The recent decline in volumes is “far worse†than trends seen in the previous four years, when beer industry volumes fell an average of 0.3 per cent, according to Cowen & Co. analyst Vivien Azer.
Posted by AGORACOM-JC
at 9:21 AM on Monday, January 6th, 2020
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Sustainable low cost, high quality cannabinoid production and
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Teas and edibles and vapes, oh my!
By: Kyle Mack
The latest in cannabis products will be available for legal sale in Ontario.
The Ontario Cannabis Store (OCS) is releasing 59 new products
including edibles, beverages, lotions, and concentrates in stores today
but online Jan 16.
Prices of edibles range from $7.50 to $16 per item while beverages
can cost between $4 to $10 and vapes falling between $25 – $125. Daniel
Safayeni, Director of Policy at The Ontario Chamber of Commerce has
previously released a statement on the THC limit per edible stating,
“The OCC supports a THC limit of 10-milligrams per discrete unit of
edibles, as well as the sale of multi-packs or multiple products—up to a
maximum of 100-milligrams of THC per package—within child-proof
packaging. As we outline in the report, single-packs are costly, while
multi-packs would allow licensed producers to create economies of scale.
The proposed regulations, however, limit the amount of THC per package
to only 10 milligrams, which is significantly lower than illegal
alternatives and lower in other U.S. jurisdictions where recreational
cannabis is legalâ€.
The THC cap may act as a barrier to shifting cannabis shoppers from
making illicit purchases, where higher THC contents can be found.
Posted by AGORACOM-JC
at 2:38 PM on Friday, January 3rd, 2020
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Cannabinoid Infused Products. Learn More.
Edibles, vapes and tea coming to legal Ontario cannabis shops Monday
Ontario’s cannabis distributor says dozens of new marijuana products will be available in retail shops starting Monday but supplies will be limited.
Unveiled 59 new items today including a variety of vapes, edibles and a tea.
TORONTO – Ontario’s cannabis distributor says dozens of new marijuana products will be available in retail shops starting Monday but supplies will be limited.
The Ontario Cannabis Store unveiled 59 new items today including a variety of vapes, edibles and a tea.
The products will be available in the province’s legal cannabis
retail stores starting next week and Cannabis edibles to hit store
shelves in January.
The distributor estimates that products will be in short supply until March as manufacturers ramp up production to meet demand.
The number of products will grow to 100 in the coming months as they receive regulatory approval.
The OCS says the new selection will help it combat black market sales across the province.
Posted by AGORACOM-JC
at 10:47 AM on Monday, December 23rd, 2019
Spyder has two current Development Permits in Calgary, Alberta to build cannabis retail stores and has received the building permit for one of the two locations
The second building permit has been submitted and awaiting approval
Vaughan, Ontario–(December 23, 2019) – Spyder Cannabis Inc. (TSXV: SPDR) (“Spyder Cannabis” or the “Company“), an established Canadian cannabis accessory and an alternative to smoking retailer, provides an update to the corporate business development. Founded in 2014 Spyder is an established chain of three high-end alternative to smoking stores and two cannabis accessory stores in Ontario, with locations in Woodbridge, Scarborough, Burlington, Niagara Falls and Pickering. The Spyder brand is defined by its high-quality proprietary line of e-juice, liquids and exclusive retail deals, dispensed in uniquely designed stores creating the optimal customer experience. Spyder is building off this leading retail, distribution and branding platform by pursuing expansion into the legal cannabis market.
Spyder has two current Development Permits in Calgary, Alberta to
build cannabis retail stores and has received the building permit for
one of the two locations. The second building permit has been submitted
and awaiting approval.
Two weeks ago the government of Ontario announced it will abandon the
current lottery system for cannabis retail and move towards an open
licensing system beginning January 6, 2020. Store authorizations will be
issued starting in April, at the rate of 20 per month. Spyder will be
submitting applications on January 6, 2020 for some of the stores
currently operating. These stores are already built out and Spyder does
not expect major renovations will be required to conform to the Ontario
specifications for licenced stores.
Spyder is currently pursuing other locations in Ontario for aggressive expansion of its scalable retail platform.
The Company’s common shares will resume trading on the TSXV at market open on December 24, 2019
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
For more information, please contact:
Spyder Cannabis Inc. Dan Pelchovitz President & Chief Executive Officer Contact: Investor Relations Phone: 1-888-504-SPDR (1-888-504-7737) Email: [email protected]
Cautionary Statements
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future events or
future performance. The use of any of the words “could”, “intend”,
“expect”, “believe”, “will”, “projected”, “estimated” and similar
expressions and statements relating to matters that are not historical
facts are intended to identify forward-looking information and are based
on the Company’s current belief or assumptions as to the outcome and
timing of such future events. Actual future results may differ
materially. In particular, this release contains forward-looking
information relating to the satisfaction of the closing conditions
contemplated under the Agreement. Various assumptions or factors are
typically applied in drawing conclusions or making the forecasts or
projections set out in forward-looking information. Those assumptions
and factors are based on information currently available to the Company.
Risk factors that could cause actual results or outcomes to differ
materially from the results expressed or implied by forward-looking
information include, among other things: the TSX Venture Exchange
declining to accept the transaction, the landlord not consenting to the
Lease Assignment, changes in tax laws, general economic and business
conditions; and changes in the regulatory regulation. The Company
cautions the reader that the above list of risk factors is not
exhaustive. The forward-looking information contained in this release is
made as of the date hereof and the Company is not obligated to update
or revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue reliance
on forward-looking information. The foregoing statements expressly
qualify any forward-looking information contained herein.
Posted by AGORACOM-JC
at 2:28 PM on Friday, December 20th, 2019
Spyder Cannabis Announces MOU with HighBreed Growth has Expired
Previously announced Memorandum of Understanding with HighBreed Growth Corp. has expired pursuant to its terms
Under the MOU signed on September 5, 2019, the parties intended to complete a business combination that would result in a reverse take-over of Spyder Cannabis by HGBGC
Company’s common shares will resume trading on the TSXV at market open on December 24, 2019
Vaughan, Ontario–(December 20, 2019) – Spyder Cannabis Inc. (TSXV: SPDR) (“Spyder Cannabis” or the “Company“), an established Canadian cannabis accessory and vape retailer, announces its previously announced Memorandum of Understanding (the “MOU“) with HighBreed Growth Corp. (“HBGC“) has expired pursuant to its terms. Under the MOU signed on September 5, 2019, the parties intended to complete a business combination that would result in a reverse take-over of Spyder Cannabis by HGBGC. Given that the transaction will no longer proceed, the Company does not, at the present time, intend to proceed with a delisting from the TSX Venture Exchange (the “TSXV“).
The Company’s common shares will resume trading on the TSXV at market open on December 24, 2019
About Spyder
Founded in 2014 Spyder is an established chain of three high-end vape
stores in Ontario, with stores located in Woodbridge, Scarborough and
Burlington. The Spyder brand is defined by its high-quality proprietary
line of e-juice, liquids and exclusive retail deals, dispensed in
uniquely designed stores creating the optimal customer experience.
Spyder is building off this leading retail, distribution and branding
eCig and vapes company and is pursuing expansion into the legal cannabis
market. Spyder has developed a scalable retail model with aggressive
expansion plan to create a significant retail footprint with targeted
and
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
For more information, please contact:
Spyder Cannabis Inc. Dan Pelchovitz President & Chief Executive Officer Contact: Investor Relations Phone: 1-888-504-SPDR (1-888-504-7737) Email: [email protected]
Cautionary Statements
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future events or
future performance. The use of any of the words “could”, “intend”,
“expect”, “believe”, “will”, “projected”, “estimated” and similar
expressions and statements relating to matters that are not historical
facts are intended to identify forward-looking information and are based
on the Company’s current belief or assumptions as to the outcome and
timing of such future events. Actual future results may differ
materially. In particular, this release contains forward-looking
information relating to the satisfaction of the closing conditions
contemplated under the Agreement. Various assumptions or factors are
typically applied in drawing conclusions or making the forecasts or
projections set out in forward-looking information. Those assumptions
and factors are based on information currently available to the Company.
Risk factors that could cause actual results or outcomes to differ
materially from the results expressed or implied by forward-looking
information include, among other things: the TSX Venture Exchange
declining to accept the transaction, the landlord not consenting to the
Lease Assginment, changes in tax laws, general economic and business
conditions; and changes in the regulatory regulation. The Company
cautions the reader that the above list of risk factors is not
exhaustive. The forward-looking information contained in this release is
made as of the date hereof and the Company is not obligated to update
or revise any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue reliance
on forward-looking information. The foregoing statements expressly
qualify any forward-looking information contained herein.
Posted by AGORACOM-JC
at 10:12 AM on Wednesday, December 18th, 2019
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provides strategic capital to the thriving cannabis cultivation
sector through ownership and development of commercial real estate
properties. The company also offers fully built out turnkey facilities
equipped with state-of-the-art growing infrastructure to cannabis
growers and processors. Click here for more info.
Lawmakers pressure FDA to make clear guidelines on CBD
With the passing of the 2018 Farm Bill, farmers, manufacturers and consumers are keeping a watchful eye on the agency and how they might address compliance for the thousands of companies selling the product and the millions of consumers vying to use it.Â
June 25, 2019, Senator Ron Wyden sent a letter to the Department of Health and Human Services and the Food and Drug  Administration urging both entities to provide clarity around CBD products derived from hemp.
The FDA has been under a magnifying glass since hemp was declassified
as a schedule I drug, having formerly fallen under the thumb of the
Controlled Substances Act of 1970.
With the passing of the 2018 Farm Bill, farmers, manufacturers and
consumers are keeping a watchful eye on the agency and how they might
address compliance for the thousands of companies selling the product
and the millions of consumers vying to use it.
Yet silence and lack of clarification on a potential path towards
compliance for supplement producers has left many chomping at the bit
for the agency to come up with regulatory guidelines for selling Food
and dietary supplements containing CBD. In the interim, well-established
companies such as Next Green Wave, Inc. (Next
Green Wave, NGW:CSE | NXGWF:OTCQX) have continued to solidify their
position in the market, ready and able to serve the exponentially
growing demand of what promises to be a $20 plus billion-dollar
industry.
A Slow and Arduous Process
In Wyden’s letter, the lawmaker criticized the FDA’s indication that
it could take up to 3 to 5 years for the FDA to implement final
regulations for companies to lawfully sell CBD infused foods, calling
the suggestion “unacceptable.†Wyden wrote that he urges the FDA to
quickly implement “enforcement discretion guidelines†by August 1, then
issue an interim final rule pending a permanent rule so that companies
will have clarity on how CBD in food and dietary products will be
regulated.
This argument may have fallen on attentive ears, but as of the date
of this publication, the FDA has yet to provide any clear established
guidelines. Although the agency has wielded their powers against a
handful of “bad actorsâ€, their approach seems to be that of “wait and
see†with regards to due process.
The letter penned by Wyden also stressed the economic impact growers
in states like Oregon would benefit from by allowing CBD to be in more
products, but are halted until the FDA gives the okay that CBD in
ingestible products is lawful to sell and okay to use.
However, this isn’t the first letter Wyden
has sent to the agency regarding a regulatory pathway to CBD
commercialization. In January the lawmaker co-authored a letter with
Senator Jeff Merkley telling the FDA they must revamp current
legislation around offering CBD products. Both senators advised former
commissioner Scott Gottlieb to “immediately begin updating regulations
for hemp-derived CBD and other hemp-derived cannabinoids, and give U.S.
producers more flexibility in the production, consumption, and sale of
hemp products,†according to the letter.
FDA is listening to public demand for clear CBD regulations
The FDA has slowly but surely has been taking measures to develop
guidelines around selling CBD ingestible-products. In late May, the
agency held a public hearing allowing stakeholders the opportunity to
share their reasons why the FDA-regulation for CBD food and dietary
products is crucial, according to the Chicago Tribune.
The agency also gave a chance for the public to weigh in on CBD
regulation by opening a public docket for individuals to add comments.
The deadline to submit comments was July 16, and the agency received
over 3,000 comments, according to the Chicago Tribune. In conjunction
with the open docket, the FDA also published an article July 17 echoing the agency’s stance on CBD and concern for public safety.
“We recognize that there is significant public interest in these
products, for therapeutic purposes and otherwise,†the article said. “At
the same time, there are many unanswered questions about the science,
safety, and quality of many of these products. As we approach these
questions, we do so as a science-based regulatory agency committed to
our mission of protecting and promoting public health.â€
In the “Listening to and learning from stakeholders†section of the
article, the FDA insists that relative questions must be answered in
order to develop a clear pathway to regulate CBD products which include
the following:
How much CBD is safe to consume in a day? How does it vary depending on what form it’s taken?
Are there drug interactions that need to be monitored?
What are the impacts on special populations, like children, the elderly, and pregnant or lactating women?
What are the risks of long-term exposure?
In a second article published on the same day, the FDA stressed it has not approved any CBD products besides Epidiolex,
a drug which treats seizures caused by epilepsy. And is currently
working to figure out how CBD will affect body parts, special
populations and pets.
Since both the public hearing and window to submit comments to the
FDA have both passed, the agency says it will review submitted
information and intends to follow up with its findings “around the end
of summer/early fall,†according to the Chicago Tribune.
It is unclear if the FDA will tentatively meet this deadline, but the
agency will most likely continue to be pressured by lawmakers and the
public to provide a regulatory framework around the selling and
obtaining CBD food and dietary supplements.
Posted by AGORACOM-JC
at 10:27 AM on Tuesday, December 17th, 2019
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provides strategic capital to the thriving cannabis cultivation
sector through ownership and development of commercial real estate
properties. The company also offers fully built out turnkey facilities
equipped with state-of-the-art growing infrastructure to cannabis
growers and processors. Click here for more info.
Here’s Why Dollar General Has High Hopes for CBD
By: Rich Duprey
Dollar General (NYSE: DG) is jumping on the CBD bandwagon, announcing it intends to start selling products infused with cannabidiol in 1,100 stores across seven states by spring 2020
Limiting its selection of goods to topical products such as creams, ointments, bath bombs, bath salts, and face masks. Edibles are not part of the plan.
Yet where grocery stores, shoe stores, pharmacies, and wellness stores
have all previously said they, too, were joining the conga line of
retailers selling CBD products, the dollar store chain’s entry has a
greater chance of boosting its bottom line.
Image source: Getty Images.
Business is growing like a weed
Unlike many other retailers and even rival Dollar Tree, Dollar General is on fire, giving a master class in discount retailing
in the third quarter. Sales rose 9% to $7 billion on a near-5% increase
in comparable-store sales, generating a 13% rise in earnings per share.
Management also raised top- and bottom line guidance for the year.
It was tough to pick out a category that was best, as it saw
across-the-board sales increases, but it was enough for the discount
chain to know it needed to pick up the pace of expansion. Where it
expects to open 975 new stores this year, it plans on opening another
1,000 in 2020. In all, Dollar General will be involved in 20% more real
estate projects next year than it was this year.
That’s important because as it continues to reach further into all
regions of the country, getting closer to its target customer, CBD
products afford it the opportunity to accelerate that growth.
The madness of cannabis
Marijuana,
cannabis, and cannabidiol all live in a legal purgatory. Although a
number of states have legalized marijuana for personal use, it
officially remains a controlled dangerous substance at the federal
level.
Cannabis, on the other hand, essentially comprises two categories,
marijuana and hemp, with the major difference being the presence of
tetrahydrocannabinol, or THC, the psychoactive compound that gets a user
high. While hemp does contain THC, it is at very low levels and not
enough to get someone high. The 2018 Farm Bill removed hemp and hemp-derived products from its list of controlled dangerous substances.
CBD is one of over 100 compounds found in cannabis, but unlike THC,
it doesn’t get you high. Also, where marijuana has very little CBD, hemp
has a lot. Many also believe CBD has a variety of therapeutic
properties, and though some studies have seemingly backed up the claim,
there haven’t been very many studies, and the long-term implications
from its use are still unknown.
A green business
The Food and Drug Administration is slow-walking the
formulation of a coherent policy on CBD, which has put many retailers
in limbo on just how best to proceed. What the FDA was clear about in
its recent policy update, however, was that it is illegal to add CBD to
food or supplements. That’s why you see retailers opting for topical
applications of the compound.
Cannabidiol has another benefit for the retail industry in that it
enjoys over dried cannabis, or so-called legal weed. Consumers have
demonstrated willingness to pay up for the compound, and there is a
plentiful supply of CBD, suggesting profits will remain stable.
That’s an attractive feature for low-margin businesses like grocery
stores. But Dollar General, which sells merchandise at many different
price points, tends to make up in volume what it loses out in product
markups. Driving down the cost of CBD-infused products could cause
consumers to flock to its stores.
And for a discount chain, Dollar General is a relatively
high-profit-margin business. Over the past five years, its operating
margins stand at almost 9% and net margins are 6%. But compare that with
other retailers that have announced they will be selling CBD products.
Retailer
5-Year Operating Margin
5-Year Net Margin
Dollar General
8.9%
6%
Dollar Tree
8.4%
2.5%
CVS Health
5.6%
2.6%
Rite Aid
1.6%
2.1%
Walgreens
4.6%
3.5%
Kroger
2.6%
1.9%
Data source: Morningstar.
A smoking hot opportunity
The retail market is expected to be the biggest contributor
to CBD’s growth, accounting for 60% of the forecast $20 billion in
annual sales. Dollar General has the potential to bring CBD products to
more people and attract a bigger share of the market because of its
value proposition.
While there may be questions about the viability and efficacy of the
CBD in the products it offers (a question that looms over all retailers
selling CBD products), CBD has a higher chance of moving the needle for
Dollar General than it does for anyone else.
Source: https://www.nasdaq.com/articles/heres-why-dollar-general-has-high-hopes-for-cbd-2019-12-17
Posted by AGORACOM-JC
at 5:20 PM on Monday, December 16th, 2019
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Ontario sold the most cannabis in first year of legalization
Ontario accounted for $217 million in recreational cannabis sales — or 24 per cent of the overall Canadian market
From October 2018 to September 2019, followed by Alberta and Quebec, which sold $196 million and $195 million worth, respectively
Cannabis retailers in Ontario sold the most cannabis of any province
in the first year following legalization, even though there was only one
online store and 24 brick-and-mortar stores in operation for most of
that period, according to new Statistics Canada data.
Ontario accounted for $217 million in recreational cannabis sales —
or 24 per cent of the overall Canadian market — from October 2018 to
September 2019, followed by Alberta and Quebec, which sold $196 million
and $195 million worth, respectively.
The year following legalization saw more than 400 brick-and-mortar
stores established across the country. Total adult-use cannabis sales
from online retail stores amounted to $908 million for that period, far
short of many estimates prior to legalization.
For instance, a June 2018 report from CIBC estimated that legal
cannabis sales could reach $6.5 billion by 2020, with the potential to
yield $1 billion in EBITDA. A similar report by Deloitte had forecast
the legal cannabis market to generate $4.3 billion in sales in the year
following legalization.
The StatsCanada data also observed a sharp decline in the number of
consumers who purchased cannabis online, in tandem with the growth of
the number of retail stores across the country. The share of online
sales declined from 43.4 per cent in Oct. 2018 to just 5.9 per cent the
following September, while the number of brick-and-mortar stores rose 88
per cent between March and July 2019.
Online retail stores — most of which are operated by provincial
wholesalers — made approximately $120 million in the year following
legalization, while brick-and-mortar stores raked in the remaining $788
million in sales.
Indeed, government-run stores have been struggling. Ontario Cannabis
Retail Corp. which operates the Ontario Cannabis Store, lost $42 million
in its latest fiscal year ending March 31, 2019. In New Brunswick,
Cannabis NB, the crown corporation in charge of selling cannabis,
recently said it was looking for a buyer, as losses piled up.
On a per capita basis, British Columbia reported the lowest sales
values in the country at $10 per capita in the year following
legalization. Ontario did not fare much better on that measure, with a
per capita sales value of $15. Alberta, by contrast, had one of the
highest per capita sales values at $45.
Statistics Canada attributed these vast differences to varying access
to cannabis stores. In Ontario, for instance, just nine per cent of
residents lived within a three kilometre distance to a cannabis store,
whereas in Alberta — the province with the highest number of stores — 50
per cent of residents lived within three kilometres of a cannabis
store.
The Canadian cannabis industry has, for the most part, struggled to
meet expectations from both investors and consumers, with price, quality
and accessibility being the key reasons why the sector did not take off
at a rate many had hoped it would.
While the first few months of legalization were characterized by a
supply shortage, the production ramp-up in the latter half of 2019 has
now created the opposite problem: oversupply.
Cannabis producers are urging the Ontario government to open up the
licensing process for retail stores, which they hope will lead to a
sharp growth in the number of stores across Canada’s most populous
province.
