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Cannabis sales tallied north of $40M during the first 2 weeks of legalization

Despite a shortage of product shortage and a lack of physical storefronts, Canadians still managed to spend plenty of cash on cannabis.

According to Statistics Canada, cannabis stores totalled $43-million in sales during the first two weeks of legalization.

<who> Photo Credit: The Canadian Press.

The agency started collecting data for in-store and online sales from cannabis retailers as of Oct. 17, when fresh or dried bud, oil, plants and seeds became legal for recreational use in the country.

That $43-million in sales is expected to increase greatly as new stores continue to come on line and the marketplace evolves.

While sales numbers made a noticeable impact on the Canadian economy, they are still a drop in the bucket when compared to alcohol sales, which when averaged out for a two week period total about $850-million.

Cannabis edibles did not factor into sales number as they have yet to be legalized, but Health Canada presented a draft of possible regulations and it is expected edibles will be legal by Oct. 17th, 2019.

With files from the Canadian Press.



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