SASKATOON -- While many businesses are struggling in the face of COVID-19, Saskatoon’s cannabis sector shows signs of booming.
Local retailer Living Skies Cannabis opened its third location this week and Prince Albert-based business Prairie Cannabis is also opening a second store in Saskatoon.
When marijuana was legalized in October of 2018, the Saskatchewan Liquor and Gaming Authority (SLGA) issued just 51 permits through a lottery system, with seven allocated for Saskatoon.
However, in September, the province removed the cap on the number of permits.
“[With no cap], we will see a lot of cannabis stores, hence why we're kind of rushing to get these stores, so we can be there first,” founder of Living Skies Cannabis Cierra Sieben-Chubak explains.
Sieben-Chubak opened her first store when her name was drawn in the lottery and described the experience as the “craziest thing that’s ever happened.”
The SLGA website states that the province currently has 56 retailers across the province.
The cost to license and open a retail cannabis store in Saskatoon has dropped as well. At the time of legalization, the cost of a license was $20,000 but the initial license cost has since dropped to $4,500.
