https://business.financialpost.com/cannabis/ontario-cannabis-store-generated-4-3-million-in-sales-from-cannabis-2-0-products-in-january
$3.77 million came from sales of vape products and an additional $569,000 came from edibles
The Ontario Cannabis Store generated approximately $4.3 million in sales from cannabis 2.0 products last month, according to a statement issued by the provincial retailer Friday afternoon.
$3.77 million came from sales of vape products and an additional $569,000 was generated from sales of edibles for the month of January.
The figures included sales to retailers across the province and online sales through OCS.ca.
“Every new product we introduce, every price drop we make and every authorized retail store that opens strengthens the legal marketplace,” says Cheri Mara, chief commercial officer at the OCS.
There are currently 43 cannabis stores in Ontario, according to the latest update from the Alcohol and Gaming Corporation of Ontario.
Cannabis 2.0 products, which includes vape pens, beverages, edibles and topicals first became available to consumers in some provinces in late December. The OCS carries over 70 different kinds of 2.0 products, ranging from vape pens to cookies and cannabis-infused tea. The sales figures for January came from 54 different vape products and 24 brands of edibles.
The OCS indicated they were experiencing a shortage of edibles, in particular, with current supply levels from licensed producers insufficient to meet demand.
“$3.7 million in vape sales is pretty good. Ontario cannabis sales overall were about $33 million last month, so we’re getting a good 10 per cent bump from just vape products,” said Michael Armstrong, professor of operations management at Brock University.
“I hope this is a sign that the OCS is becoming more open about sharing sales data with the public,” Armstrong added.
The provincial wholesaler also announced it would begin selling cannabis beverages and topicals this week.
Licensed producer Tilray Inc.’s CBD beverage, under the High Park brand, is expected to hit stores this week, while two different flavours of beverages from cannabis extractor Valens’ Basecamp brand will be shipped to stores starting next week, the OCS said.
The first legal topical product from licensed producer 48North’s Apothecanna brand will also start arriving in retail stores and OCS.ca starting next week, the statement said. Topicals are cannabis-infused gels, lotions and creams.
“Given limited initial supply of these two new categories, the OCS will prioritize shipments to authorized retail stores,” the statement said.
Financial Post
Recent FAF News
- First American Title’s IgniteRE™ Earns Gold at The American Business Awards® in Real Estate Management Solution Category • Business Wire • 05/02/2024 01:00:00 PM
- First American Senior Commercial Real Estate Economist Xander Snyder Named a HousingWire 2024 Rising Stars Award Winner • Business Wire • 04/30/2024 01:00:00 PM
- First American Financial Reports First Quarter 2024 Results • Business Wire • 04/24/2024 08:30:00 PM
- Houston-The Woodlands-Sugar Land Home Prices Up 5.3% Year Over Year in March, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 04/16/2024 01:00:00 PM
- Los Angeles-Long Beach-Glendale Home Prices Up 4.2% Year Over Year in March, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 04/16/2024 01:00:00 PM
- New York-Jersey City-White Plains, NY-NJ Home Prices Up 5.2% Year Over Year in March, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 04/16/2024 01:00:00 PM
- Dallas-Plano-Irving Home Prices Up 3.3% Year Over Year in March, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 04/16/2024 01:00:00 PM
- House Price Growth Continues to Cool in March, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 04/16/2024 01:00:00 PM
- First American Financial Announces First Quarter 2024 Earnings Conference Call • Business Wire • 04/08/2024 01:00:00 PM
- First American Named One of the Fortune 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for Ninth Year in a Row • Business Wire • 04/04/2024 03:30:00 PM
- First American Title Enhances First-of-its-Kind Multisite Commercial Real Estate Transaction Closing Solution Within its ClarityFirst® Platform • Business Wire • 03/25/2024 01:00:00 PM
- Houston-The Woodlands-Sugar Land Home Prices Up 5% Year Over Year in February, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 03/19/2024 01:00:00 PM
- Los Angeles-Long Beach-Glendale Home Prices Up 4.7% Year Over Year in February, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 03/19/2024 01:00:00 PM
- Annualized Price Appreciation Slows for Second Straight Month, Falling by Almost a Full Percentage Point, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 03/19/2024 01:00:00 PM
- New York-Jersey City-White Plains, NY-NJ Home Prices Up 6.3% Year Over Year in February, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 03/19/2024 01:00:00 PM
- Dallas-Plano-Irving Home Prices Up 4.4% Year Over Year in February, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 03/19/2024 01:00:00 PM
- First American Executive Tanya Ceperley Named a 2024 HousingWire Finance Leader • Business Wire • 03/04/2024 02:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 12:30:57 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 12:26:15 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 12:17:01 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 12:14:19 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 11:59:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 11:45:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 11:37:47 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 01:26:25 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM