Business News –
Ontario’s marijuana organization selected former retail executive Thomas Haig as its new interim president on Monday, a relocation that comes as the province prepares to quickly expand its legal pot network over the next a number of years.
Haig, who has previously held management functions at discount rate chain Huge Tiger Stores Ltd. and Hudson’s Bay Co.’s Zellers division, will take the helm of the Ontario Cannabis Shop (OCS) at a time when the province is set to support the launch of numerous brand-new legal pot shops.
Haig replaces Cal Bricker, who took on the OCS leading job after taking a leave of absence from running Ontario Lottery game and Video gaming’s horse racing service last year. Bricker is “carrying on from his function in the company,” the OCS stated in a declaration.
While Ontario was lambasted in 2015 for losing $42 million in its preliminary year of running its cannabis organization, it is anticipated to schedule an $80 million earnings in its fiscal 2021, according to the government’s current financial upgrade. That turn-around came after the province opened up marijuana retail licences to the public following 2 lottery games that restricted Ontario to an optimum of 75 stores in the very first year recreational pot was legal.
There are now 174 accredited pot shops open in Ontario, with more than 600 candidates awaiting the Alcohol and Gaming Commission of Ontario, the province’s retail regulator, to authorize their licences. The province offered more than $60 million worth of cannabis in July, the highest amount in the nation, according to Stats Canada.
The OCS, which supplies wholesale circulation and runs an online e-commerce service, recently announced plans to open a brand-new storage facility in Guelph, Ont. that will assist support the extra shops set to come online over the next a number of months.