James E. Wagner Cultivation Corporation (TSXV: JWCA) has officially taken steps towards opening one of the first “farmgate” cannabis retail locations in the province of Ontario. Legislative changes to Ontario’s retail framework in November 2019 enabled licensed producers to open retail locations at their production sites, referred to as farmgate.
The firm announced this morning that it has submitted for a cannabis retail operator license with the Alcohol and Gaming Corporation of Ontario, which, when approved, will be one of the first such farmgate locations within the province. James Wagner had previously committed to being one of the first cultivators with an adjacent retail location back in early December following the legislative changes.
The retail location itself is set to be approximately 2,000 square feet in size at the company’s Kitchener, Ontario facility. The retail location is expected to assist JWC in moving from a medical only operation, to that of one with adult-use exposure as well, increasing the firms distribution channels. JWC has also contracted out Kindred Partners to further enhance recreational market distribution via their network.
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A timeline has not been provided for the anticipated opening of the farmgate location, which is likely a result of as-of-yet murky regulations on the topic.
James E Wagner Cultivation last traded at $0.22 on the TSX Venture.
Information for this analysis was found via Sedar, and James Wagner Cultivation. The author has no securities related to this organization. James Wagner Cultivation was previously a client of CanaCom Group, the parent company of The Deep Dive. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
