|Page (1) of 1 - 03/08/18||email article||print page|
Delta 9 Cannabis Secures Rare Manitoba Conditional Approval -- CFN Media(March 08, 2018)
SEATTLE, March 08, 2018 (GLOBE NEWSWIRE) -- CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article discussing the recent approval of Delta 9 Cannabis Inc. (TSX-V:NINE) to operate as a retailer in the province of Manitoba. As one of just four groups conditionally approved in Manitoba, the company is uniquely positioned to capitalize on a market that management believes could be worth between $300 million and $500 million per year.
Canada’s cannabis industry is projected to reach up to C$22.6 billion over the coming years, according to Deloitte, driven by the legalization of recreational adult-use cannabis later this year. While the federal government finalizes the legislation, individual provinces have also been working out how they will handle the cultivation, distribution, and sale of cannabis. These rules have created several opportunities among publicly-traded companies in the space.
Manitoba Decides on Four LPs
Manitoba has conditionally approved four groups that will operate the province’s cannabis retail after receiving over one hundred applications. Each of the four groups submitted proposals that met the criteria outlined in the government’s RFP, but official acceptance of the proposals is conditional on them reaching all of the necessary agreements and providing the required documents that were outlined in the government’s RFP.
The four groups that were conditionally approved include: