Canopy Growth (WEED.T) throws their Tokyo Smoke retail net even wider over Ontario

Canopy Growth’s (WEED.T) retail brand, Tokyo Smoke, announced their intent to open nine franchised retail stores throughout Ontario in January, today, according to a press release.

The declaration demonstrates a significant growth initiative for the Tokyo Smoke brand as they spread across the Ontario market. These stores will help the company meet the growing consumer cannabis demand in addition to providing more communities across the province with a safe and convenient way to get high-quality, legal cannabis.

“Ontario is the largest market in the country for legal recreational cannabis and it’s where the Tokyo Smoke brand was built — we’re excited to bring our education-first approach to cannabis retail to key communities and regions across the province. Through our franchise model, we’re proud to support local independent business owners and entrepreneurs in the pursuit to provide their local communities access to high-quality cannabis products and accessories, along with cannabis education from their team of education specialists,” said Lacey Norton, head of retail for Tokyo Smoke.

Canopy is down $0.38 today, and trading presently at $38.59.

The list of Ontario stores opening in the coming weeks include:

300 King George Rd., unit K5, Brantford, Ont., N3R 5L6;

300 Earl Grey Dr., unit A18, Kanata, Ont., K2T 1C1;

80 Marketplace Ave., Nepean, Ont., K2J 5G3;

1819 Avenue Rd., North York, Ont., M5M 3Z4;

8 Lebovic Ave., unit B5, Scarborough, Ont., M1L 4V9;

3003 Danforth Ave., unit 29, Toronto, Ont., M4C 1M4;

545 Queen St. W, Toronto, Ont., M5V 2B6;

250 King St. E, Toronto, Ont., M5A 1K1 979;

Bloor St. W, Toronto, Ont., M6H 1L7.

These additions bring the number of Tokyo Smoke’s cannabis stores in Ontario to 22, and 35 across Canada, by the end of January. They also have six locations in Alberta and seven in Manitoba.

—Joseph Morton