Money LCBO announces deal with Shopify to run online cannabis sales platform

13:44  12 february  2018
13:44  12 february  2018 Source:   thestar.com

Pot Stocks Are Falling: Has the Cannabis Bubble Finally Burst?

  Pot Stocks Are Falling: Has the Cannabis Bubble Finally Burst? Aphria Inc. (TSX:APH) has plunged nearly 20% to start the year, and it's not the only pot stock that is in trouble.KMI

The Ontario government has inked a deal to use Shopify Inc.’s e-commerce platform for cannabis sales online and in stores as part of its plan to be the province’s sole distributor of legal recreational marijuana.

The Ontario government has inked a deal to use Shopify Inc.'s e-commerce platform for cannabis sales online and in stores as part of its plan to be the province's sole distributor of legal recreational marijuana.

LCBO President and CEO George Soleas said © Andrew Francis Wallace LCBO President and CEO George Soleas said "We look forward to combining our expertise as a socially responsible retailer with Shopify’s world-class commerce solutions to deliver the safe, informed and reliable shopping experience that our new customers will expect."

The Ontario government has inked a deal to use Shopify Inc.’s e-commerce platform for cannabis sales online and in stores as part of its plan to be the province’s sole distributor of legal recreational marijuana.

Popular Searches

Exxon Mobil Corp

XOM

How to buy weed in Canada when it’s legalized

  How to buy weed in Canada when it’s legalized How to buy weed in Canada when it’s legalized********In a new Global News series, we'll be taking a deep dive into marijuana legalization. Watch the video above for a province to province look on how you will be able to buy recreational pot once it's legalized.

The Ontario government has inked a deal to use Shopify Inc.'s e-commerce platform for cannabis sales online and in stores as part of its plan to be the province's sole distributor of legal recreational marijuana.

The Ontario government has inked a deal to use Shopify Inc.’s e-commerce platform for cannabis sales online and in stores as part of its plan to be the province’s sole distributor of legal recreational marijuana.

75.78
+0.48
+0.64%
Barclays PLC

BCS

10.75
+0.06
+0.56%

The Ontario Cannabis Retail Corporation (OCRC), a subsidiary of the Liquor Control Board of Ontario, will use the Ottawa-based company’s online store software for its online and mobile sales portal.

“Our top priority is fulfilling the province’s framework for the safe and sensible retailing of recreational cannabis for when it is legalized by the federal government,” said George Soleas, president and CEO of the LCBO.

Read more:

How Queen’s Park is gearing up to be the largest legal pot dealer in Canada (and maybe the world)

Editorial | Trudeau government should push pot bill through Senate

Public shouldn’t ‘jump to conclusions’ on pot legalization timing, Goodale says

3 Excellent Growth Stocks to Add to Your RRSP and Hold Forever

  3 Excellent Growth Stocks to Add to Your RRSP and Hold Forever Open Text Corp. (TSX:OTEX)(NASDAQ:OTEX) has rebounded strongly following a disappointing 2016. Find out what makes it and two other companies the perfect investments for your RRSP.That’s thanks to the “magic” of compound interest — a phenomenon that none other than Albert Einstein once referred to it as the eighth Wonder of the World.

The Ontario government has inked a deal to use Shopify Inc.'s e-commerce platform for cannabis sales online and in stores as part of its plan to be the province's sole distributor of legal recreational marijuana.

Cannabis in Ontario will be sold solely through OCRC's stores and online platform . The OCRC, a subsidiary of the provincial government's Liquor Control Board of Ontario ( LCBO ) — which handles liquor sales throughout the province — will use Shopify 's platform for its online and mobile sales

“We look forward to combining our expertise as a socially responsible retailer with Shopify’s world-class commerce solutions to deliver the safe, informed and reliable shopping experience that our new customers will expect.”

Shopify’s technology will also be used inside brick-and-mortar stores to process transactions on iPads and for digital screens displaying product and health information.

The OCRC said Ontarians will have access to the same product information, use guidelines and social responsibility information — which adhere to federal marketing provisions — both in-store and online.

The public consultation for Health Canada’s proposed guidelines for cannabis regulation — which include limits on branding elements on packaging, as well as restrictions on marketing similar to tobacco — finished on Jan. 20, with a finalized version yet to be delivered.

Alberta will set no limit on number of private pot stores

  Alberta will set no limit on number of private pot stores Alberta will set no limit on number of private pot storesAlberta won’t limit the number of private cannabis stores once retail sales are legalized next July, according to new details released Thursday by the NDP government.

TORONTO — The Ontario government has inked a deal to use Shopify Inc.’s e-commerce platform for cannabis sales online and in stores as part of its plan to be the province’s sole distributor of legal recreational marijuana.

The Ontario government has inked a deal to use Shopify Inc.'s e-commerce platform for cannabis sales online and in stores as part of its plan to be the province's sole distributor of legal recreational marijuana.

The agency selected the tech darling to provide point-of-sale systems for in-store and online sales in late 2017.

“Bringing this differentiator to the LCBO on this historic project to consumers of legal age across Ontario is a great example of a made-in-Canada innovation, which we are proud to be a part of,” said Loren Padelford, vice-president of Shopify Plus, the division that focuses on big clients.

The OCRC is in the process of determining the design for the user experience, with the aim of having operations installed in time for the proposed federal marijuana legalization launch in July 2018, the agency said.

In addition to online sales, Ontario will roll out an initial wave of 40 stores, which is expected to grow in number to 150 by the end of 2020

The government agency will also use Shopify’s platform to manage inventory, accounting and human resources operations.

Sales of cannabis in Ontario will only be available through government-run online or in stand-alone stores, while some other provinces such as Alberta and British Columbia are allowing for some private sales of cannabis.

Shopify quarterly revenue jumps 71 per cent .
Shopify Inc (SHOP.TO) reported a surge in fourth-quarter revenue on Thursday as the fast-growing retail software company benefited from a rise in subscription and merchant revenue. define("homepageFinanceIndices", ["c.deferred"], function () { var quotesInArticleFormCode = "PRMQAP"; var config = {}; config.indexdetailsurl = "/en-ca/money/indexdetails"; config.stockdetailsurl = "/en-ca/money/stockdetails"; config.funddetailsurl = "/en-ca/money/funddetails"; config.etfdetailsurl = "/en-ca/money/etfdetails"; config.recentquotesurl = "/en-ca/money/getrecentquotes"; config.

—   Share news in the SOC. Networks
This is interesting!