fbpx
QQQ
+ 2.69
328.82
+ 0.81%
DIA
+ 2.30
343.24
+ 0.67%
SPY
+ 2.97
416.13
+ 0.71%
TLT
-0.69
140.61
-0.49%
GLD
+ 1.55
168.49
+ 0.91%

Ontario Cannabis Store Trims Prices To Combat Illegal Market

January 6, 2020 3:16 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Ontario Cannabis Store Trims Prices To Combat Illegal Market

Ontario Cannabis Store announced Friday it will lower the price of its 50 various cannabis products, reports Narcity. The company is offering its “Original Stash” strand for $5 per gram.

After legalization, Ontario residents could buy cannabis for $8.05 per gram, which is about 8% higher from pre-legalization, according to Narcity. The notable reduction in prices comes from the company’s intention to combat the illegal market.

Cannabis edibles were expected on shelves Monday, but supplies will be limited at the beginning.

Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.

“Licensed producers for many months have been looking at Cannabis 2.0 products as a significant opportunity for their companies." David Lobo, OCS Vice-President of Corporate Affairs, told CP24. "So we expect that the supply shortages on these products will not be as long and lingering as they were with the initial dry cannabis and oils that were legalized in October 2018.”

Some of those edibles, such as chocolates and soft chews will be priced at between $7.50 and $16 per package and tea bags should carry a price between $7 and $11 reports CP24.

Cannabis-infused beverages, that should become available in the second half of February should have a price target of $4 to $10 per can, writes CP24.

Posted-In:

Cannabis Markets Media