SHOP taps B.C. pot

Article Excerpt

SHOPIFY INC. $224.14 (Toronto symbol SHOP; TSINetwork Rating: Extra Risk) (613-241-2828; www.shopify.ca; Shares outstanding: 99.9 million; Market cap: $23.8 billion; No dividend) has now been selected by British Columbia to provide an e-commerce platform for the online sale of non-medical cannabis. The B.C. Liquor Distribution Branch will be the sole wholesale distributor and public retailer of recreational cannabis in the province. Shopify will create two separate websites to fulfil online orders: one for consumers, where the age of the purchaser will be verified, and the second for public and private retail stores. Couriers will also verify the age of buyers at delivery. At-store pickup of online orders is still under consideration. The distribution centre for the orders will be located in a 6,500-square-metre facility in Richmond. The online store will be ready in early fall once recreational cannabis is legalized on October 17, 2018. Shopify is a hold. hold…

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