Wagner Hikes on Opening of new Store

Steps to lower the barriers for cannabis makers and distributors to get their product to market have been music to the ears of companies such as Kitchener, Ontario-based James E. Wagner Cultivation Corporation (TSX-Venture:JWCA). The firm plans to open a 2,000 sf. farm-gate retail store adjoining its flagship cultivation facility in Kitchener.

As JWC scales toward full production capacity, it plans to expand from the Canadian medical to recreational markets in the first calendar quarter of 2020 through a number of marketing and distribution channels. The farm-gate store will represent a new direct-to-consumer outlet for the company.

JWC Farm-gate is expected to be the Waterloo Region’s first retail cannabis store located on a licensed cultivation site.

Said CEO Nathan Woodworth, "Amendments in legislation provide us with the opportunity to respond to consumer needs.

"We plan to move forward as quickly as the regulatory and permitting process allows. We hope that this new direct channel will contribute significantly to our revenue and margin expansion in fiscal 2020."

Volume in JWCA shares was taking some time getting around late Thursday morning, at only 96,000, but the price was soaring three cents, or 12.8%, to 26.5 cents.