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Kelowna  

Starbuds looks for partner

A Kelowna-based company didn’t capture one of 25 cannabis retail licences in Ontario’s lottery last week, but it still has a chance to get into the market through a partnership with one of the winners.

Starbuds Canada, which last summer secured real estate locations in Whitby, Ont., and Windsor, Ont., in anticipation of the lottery, was one of 17,320 applicants. Most of the 25 winners are individuals who don’t know how to open a retail cannabis store, but Starbuds does.

The licences cannot be transferred through a sale, so the only option for cannabis companies like Starbuds to get into the lucrative Ontario market is through a partnership.

There have been reports this week that licence holders are seeking more than $5 million.

For more on this story, visit Okanagan Edge.



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