Ontario, Canada, cannabis store chain ShinyBud is expanding its retail portfolio with a plan to acquire independent pharmacies and aspirations to synergize those pharmacies with its adult-use stores.
Aspects of ShinyBud’s approach would require certain regulatory changes, but, if successful, the strategy could serve as a novel model for diversification in the Canadian cannabis retail sector.
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ShinyBud, which is planning a name change to Shiny Health & Wellness, hopes to be able to sell cannabis health products over pharmacy counters when Canadian regulations allow and perhaps eventually install separate adult-use cannabis stores within some pharmacies.
The company is targeting five to 10 pharmacy acquisitions by the end of January 2023, according to a regulatory filing.
Canadian pharmacies are currently not allowed to sell medical marijuana in its plant form or over-the-counter cannabis health products, although they may dispense cannabis-containing pharmaceuticals such as Sativex.
ShinyBud Chair and CEO Kevin
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