Ontario’s cannabis retailing arm is putting pressure on some growers to reduce prices as the province strives to ensure marijuana on its shelves will be cheap enough to compete with the illicit market.

In talks with producers to determine which companies will supply the recreational market, officials for the Ontario Cannabis Store (OCS) are pushing for some strains of flower to be available to consumers at a retail price of about $7.50 a gram, including taxes, according to sources familiar with the matter.

The rumour mill is flying now that the recreational marijuana market has been given the green light by the federal government — only the second government in the world to legalize it. Starting October 17, marijuana retailers across the country will be open for business.

While everyone’s obsessed by the leaf itself, I’m more inclined to believe the big growth will be from the by-products of marijuana, such as edibles, drinks, etc., and given the 9.9% investment by Constellation Brands Inc. (NYSE:STZ) in Canopy Growth Corp., it likely feels the same.

Only a matter of time

"Now what?"

That's what Torrance Aitken remembers thinking when he found out he'd won one of Saskatchewan's 51 coveted retail cannabis permits.

Four weeks later, there are still some things about the new legal pot industry that Aitken, a 34-year-old oil and gas well tester in Weyburn, Sask., can only guess at.

"I really don't have any idea how it will go," he said Wednesday. 

But Aitken didn't want to miss out on what he saw as a unique business opportunity.

The Saskatchewan government was only allowing two pot shops to operate in Weyburn, population 10,870.

Torrance Aitken, a Weyburn-area oil and gas well tester who won one of Weyburn's two pot permits, says he'll operate both businesses simultaneously. (Torrance Aitken)

Global demand for cannabis, both recreational and medicinal, continues to grow at healthy pace. According to a recent research report put out by Arcview Market Research and BDS Analytics, the next ten years are set to explode with spending on legal cannabis worldwide hitting $57 billion by 2027.

While much of that growth is expected to come from the United States, there are several other countries opening up to cannabis, whether it be through consumption or production and export.

Vancouver city council has made changes to its bylaw to accommodate the sale of non-medical cannabis, ahead of federal legalization on Oct. 17.

City council created the "Cannabis Store" designation through a zoning and development bylaw amendment at a council meeting on Tuesday night. 

This will replace the existing "Medical Marijuana Related Use" (MMRU), so that pot shops also selling non-recreational marijuana can operate under city regulations.

Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED), (NYSE: CGC) is proud to announce that Mark Zekulin, President, Canopy Growth has been named a Recipient of Canada's Top 40 Under 40® for 2018.

Founded in 1995 by Caldwell, Canada's Top 40 Under 40® is an annual recognition of the exceptional achievements of 40 outstanding Canadians under the age of 40. Since its inception, Top 40 has recognized more than 680 outstanding Canadians and is the country's most coveted award for young business leaders.

When you ask Aphria CEO Vic Neufeld if he would hire people who have illegally worked with cannabis in the past, he'll give you a blunt answer.

"So, it helps."

Earlier this month, Neufeld announced the cannabis producer was raising $225 million for expansions, with $55 million set aside for "cannabis extraction."

And with legalization of recreational marijuana consumption fast approaching, Aphria will be hiring more workers with product knowledge — regardless of how that knowledge is acquired.

Employing the most qualified workers

Aurora Cannabis Inc. has signed a loan deal with the Bank of Montreal for up to $250 million.

Aurora chief executive Terry Booth called it the largest traditional debt facility in the cannabis industry to date.

Under the agreement, Aurora will receive a $150-million term loan and a $50-million revolving credit facility, both of which will mature in 2021.

A short period after Ottawa's legislation to legalize and regulate recreational marijuana comes into effect in October, the company may request an increase of up to $45 million for the term loan.

BMO will also provide up to $5 million in other credit instruments.

The debt facility will be primarily secured by Aurora's production facilities.

On Friday, Bloomberg reported that Molson Coors Brewing Co. (TSX:TPX.B)(NYSE:TAP), the world’s third-largest alcoholic brewer, has been in talks with up to four cannabis companies. While a potential deal could prove to be a watershed moment for the cannabis industry, it wouldn’t exactly be a first. Last fall, Constellation Brands, Inc. (NYSE:STZ), which also happens to be the number one alcoholic beverage market in the United States, announced its own deal that saw it invest $245 million in Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) in exchange for a 9.9% stake in Canada’s largest medical marijuana company. It’s also worth noting that on…