Lifeist Wellness Inc (NXTTF)

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The Alberta government says it’s getting out of the online pot sales business.
If passed, Bill 80, Red Tape Reduction Implementation Act, 2021, tabled Thursday in the legislature, will make more than a dozen changes across nine different pieces of legislation including allowing online cannabis sales by licensed retailers and discontinuing online sales by Alberta Gaming, Liquor and Cannabis (AGLC).
Finance Minister Travis Toews said the AGLC will withdrawal from the online cannabis sales market 90 days after the amendments come into force meaning the sales could end by early 2022.
“In addition to being able to sell cannabis online, private operators can now sell cannabis-related items such as glassware and branded apparel. This measure not only reduces red tape, but it will help to curb the illegal trade in cannabis,” he said.
Officials estimate AGLC will lose about $200,000 annually in net operating income from giving up online sales.