Coffee Time locations could soon be turned into cannabis dispensaries
The people of Toronto may one day be able to buy their drugs at the nearest Coffee Time—something that, surely, has never been possible before.
Medical marijuana producer FSD Pharma Inc. just announced its investment of $1.3 million into the local retail cannabis brand Huge Shops, which in turn has formed a partnership with the coffee chain's parent company, Chairman's Brands.
Thanks to this investment, FSD says that Huge Shops can now "acquire a minimum of ten retail locations under Chairman's umbrella of properties," with the option to "purchase additional Coffee Time sites" in the future.
FSD Pharma Announces Strategic Investment in Huge Shops https://t.co/jnQHnh2xN4 #HUGE #FSDDF $HUGE #FSDDF @FsdPharma Coffee Time via Chairmans Brands pic.twitter.com/jVXa1S6K8F
— DjDarroo (@DjDarroo) December 20, 2018
These ten Coffee Time locations are said to be located in key locations across Ontario, though it might take a while to open them all with the PC government's recent decision to issue only 25 retail cannabis licenses in the province for April 1.
Huge Shops will file expressions of interest with the AGCO nonetheless, according to a release, in an effort to obtain at least one of those coveted licenses from Ontario's first batch.
FSD, which has been converting the old Kraft plant in Cobourg, Ontario into the world's largest hydroponic indoor cannabis facility, says that Huge Shops eventually plans to open the legal maximum of 75 locations across the province.
RIP to all of Toronto’s weed heroes:
— Gay Apparel Donner Li'l 🎄 (@karengeier) October 17, 2018
-Pizza GiGi
-The Coffee Time near Moss Park
-The guy hanging around Ryerson’s reflecting pool
Once open, the Huge Shops will be branded and operated independently of Coffee Time, but still have access to the company's retail management team and commercial real estate portfolio.
Whether the companies have a license on April 1, when brick-and-mortar cannabis stores are finally legal in Ontario, remains to be seen.
For now, Torontonians have the sole option of legally buying weed through the government's own, problem-plagued online pot dispensary... unless they're spooked by the idea of foreign law enforcement officials refusing them at the border.
Coffee Time
