Cannabis sales are on the rise this year as revenue and profits for many Canadian cannabis companies have increased significantly.
Data collected by Statistics Canada show that retail sales in Alberta reached $33.3 million in January 2020, then increased to $42.3 million in April and jumped over $50 million in July 2020.
Alberta just reached 600 approved cannabis retailers, still the home of the most legal cannabis stores in Canada. Alberta has held the top position in terms of retail cannabis stores since the beginning of legalization, with 65 stores on day one, October 17, 2018.
City View Green Holdings Inc. (CSE: CVGR) (OTC: CVGRF) and High Tide (NASDAQ: HITI) could see a major move as both companies recently opened a few cannabis retail stores in Alberta
City View Green Holdings Inc. (CSE: CVGR) (OTC: CVGRF) is a leading consumer packaged goods company focused on the development of cannabis-infused edibles. With the receipt of its Cannabis Act processing licence on April 30, 2021, City View will incorporate cannabis-infused food production at its Brantford, Ontario high-capacity facility.
In addition, City View owns a 27.5% stake in Budd Hutt Inc. ("Budd Hutt"), a retail-focused cannabis company with access to cannabis cultivation and production licences in Alberta and other retail opportunities across Canada.
Through its relationship with Budd Hutt, the Company anticipates securing shelf space, product placement, and distribution opportunities for our white label partner products.
City View Green Holdings Inc. (CSE: CVGR) (OTC: CVGRF) and Budd Hutt Inc. are well positioned to benefit from increasing Alberta cannabis sales
Budd Hutt is a retail focused Cannabis company with four licensed locations and three pending applications for licenses in Alberta and is exploring other retail opportunities across Canada. Budd Hutt intends to secure shelf space and distribution opportunities for City View's products.
Both recently announced that Budd Hutt has opened its second retail cannabis store in Grand Cache, Alberta. Budd Hutt has hired experienced staff and expects the Grande Cache store to perform well as the only retail cannabis store in the town of Grande Cache with shopping and other amenities nearby.
Budd Hutt continues to pave the way to open the next store in Vermilion, Alberta in June 2021.
Earlier this year, City View announced the launch of its hemp-based dog treats under the brand names Thera-SnaxTM and PawsperityTM.
The launch of branded dog treats marks the first milestone in the development of a range of hemp and cannabis infused proprietary brands being developed in several food categories by City View. The Company’s research driven approach is being applied to pet wellness which will bring the benefits of hemp to pet owners.
Thera-SnaxTM and PawsperityTM brands are 100% natural dog treats and comprise the initial items in the company’s pet supplement product launch. Thera-SnaxTM and PawsperityTM have been developed to support both active and older dog’s wellness, with the benefits of hemp hearts and other active ingredients.
Hemp’s nutritional benefits make it one of the world’s leading superfoods, hemp hearts are a rich source of complete plant protein, omega 3’s, fibre, vitamin E and beneficial minerals to promote overall nutrition, muscle development and immune system function with anti-inflammatory properties to support healthy heart, coat, skin and joint mobility.
Thera-SnaxTM and PawsperityTM with hemp hearts will be available in 2 formulas: healthy active living support with added vitamin B, and hip and joint support with added turmeric.
High Tide (NASDAQ: HITI) Opened its First Cannabis Retail Store in Canmore, Alberta
The company announced that the Canna Cabana retail store located at 1702 Bow Valley Trail, in Canmore, Alberta, will begin selling recreational cannabis products for adult use today. This opening represents High Tide's 77th branded retail location across Canada selling recreational cannabis products and consumption accessories.
High Tide is a retail-focused cannabis company enhanced by the manufacturing and distribution of consumption accessories. The Company is the largest Canadian retailer of recreational cannabis as measured by revenue, with over 80 branded retail locations spanning Ontario, Alberta, Manitoba and Saskatchewan. High Tide's retail segment features the Canna Cabana, KushBar, Meta Cannabis Co., Meta Cannabis Supply Co. and NewLeaf Cannabis banners, with additional locations under development across the country. High Tide has been serving consumers for over a decade through its numerous consumption accessory businesses including e-commerce platforms Grasscity.com and CBDcity.com, and its wholesale distribution division under Valiant Distribution, including the licensed entertainment product manufacturer Famous Brandz. High Tide's strategy as a parent company is to extend and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value.