LONDON, Ont. – Canopies company Canopy Growth Corp. (TheWEED.TO) Says he joins Quebec's retail maker, Alimentation Couche-Tard Inc. (TheATDb.TO) to support a private shop that runs privately in London, Ont.
In a news release Thursday, Canopy says that the two companies intend to form a multi-year strategic partnership that includes a new cannabis center set to open in the city in April.
Currently, the only place to buy a legal recreational herb in Ontario is a government-managed online shop, Cannabis Ontario Shop, but private brick and mortar stores are about to open April 1.
The provincial agency responsible for regulating those stores, the Alcohol Commission and Gaming Commission, held last month's lottery to select the entities that could apply for the 25 initial retail licenses.
Canopy and Couche-Tard say they are committed to a trademark license agreement with one of those winners of that lottery to open a shop under the Canopy & Tweed brand.
The companies say that the lottery winner will still have "full ownership and control over the London store."