Efforts underway to convert 10 Coffee Time shops into cannabis stores in Ontario
Source The Financial Post
FSD Pharma Inc., says it is investing $1.3 million in Huge Shops to
help with the company’s plans to convert some Coffee Time locations into
cannabis retail stores in Ontario.
The cannabis producer says
Huge Shops has the option to acquire at least 10 Coffee Time locations,
with the option to purchase additional sites through the coffee chain’s
parent company, Chairman’s Brands. There are 75 Coffee Time locations in
FSD Pharma says the investment in Huge Shops gives the company access to a “network with a well-established consumer base.”
plans for the stores, to be branded and operated independently from
Coffee Time, are contingent on Huge Shops being granted the necessary
approval by the Alcohol and Gaming Commission of Ontario.
week, the Ontario government announced it will initially issue up to 25
licences in January for cannabis stores selected by lottery, ahead of
the first day of private retail sales on April 1.