Ron Strider
Well-Known Member
Regina will be home to a new cannabis retail store and coffee shop in early 2018 after a partnership between Leo's Group Inc. and the Toronto based company, Tokyo Smoke was made official earlier this week.
Tokyo Smoke shops offer high end coffee, espresso, food, other beverages and cannabis accessories and merchandise. According to the company's mission statement Tokyo Smoke is "ushering in a new era with high end coffee" and "an elevated retail experience."
With three locations in Toronto, the company announced it will be expanding into the Prairies with six new retails stores to open over the next two years. Here in Regina, Leo's Group – which owns Leopold's Taverns across Saskatchewan and Victoria's Tavern in Regina – will operate and manage a store that will likely be located in the downtown area.
"It's going to be a big industry," said Jason Drummond, chairman and co-founder of Leo's Group.
Drummond said the group wasn't actively pursuing space in the cannabis industry until the partners met with the CEO and co-founder of Tokyo Smoke and were enamored with their vision.
"Being comfortable with their business and their team made us want to do business with them," he said.
Drummond acknowledged there may be some backlash from conservatives in Saskatchewan, but believes that ultimately the province will embrace it and all the positives that come with it.
"It's an industry that's going be made available in July and I think a lot of the provinces are taking a progressive approach in preparing for it," said Drummond. "It's going to add to the economy, it's going to create jobs. There's going to be significant tax revenue."
For now, the store will only sell accessories and merchandise including in-house designed grinder cards, rolling papers and lighters. The store will also carry Pax 3 vaporizer's, Genius pipes, Concrete Cat incense and ash trays and more name brand items.
Drummond said once the federal legislation legalizing marijuana comes into effect in July they hope to begin selling cannabis as well, but said it depends on how the provincial government decides to embrace the new law and whether or not it opens up the industry to private businesses or not.
Two other partners have invested in the expansion of Tokyo Smoke – York Plains Investment Group, of which Drummond is managing director, and the Green Acre Capital Fund. He said, not including Tokyo Smoke, the three parties also intend to invest more into the cannabis industry in Saskatchewan when the time is right.
Drummond also stressed the importance of entering into the industry responsibly.
"As new participants in this industry, which is effectively brand new, we don't take our social responsibility lightly," said Drummond. He said that while the Saskatchewan government has a responsibility too, it isn't the only one.
"I think the industry and its participants have to take a large role in that too and ensure that people are educated on it so they understand it and then if they choose to consume, they consume responsibly," said Drummond.
Leo's Group plans to create awareness and educational tools and materials to distribute to the general public. The group will also be opening a store in Calgary in the fall and one in Manitoba in early 2018.
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: Leo’s Group breaking into cannabis retail market in Saskatchewan | Regina Leader-Post
Author: Jennifer Ackerman
Contact: Contact | Regina Leader-Post
Photo Credit: Michael Bell
Website: Regina Latest News, Breaking Headlines & Sports | Regina Leader-Post
Tokyo Smoke shops offer high end coffee, espresso, food, other beverages and cannabis accessories and merchandise. According to the company's mission statement Tokyo Smoke is "ushering in a new era with high end coffee" and "an elevated retail experience."
With three locations in Toronto, the company announced it will be expanding into the Prairies with six new retails stores to open over the next two years. Here in Regina, Leo's Group – which owns Leopold's Taverns across Saskatchewan and Victoria's Tavern in Regina – will operate and manage a store that will likely be located in the downtown area.
"It's going to be a big industry," said Jason Drummond, chairman and co-founder of Leo's Group.
Drummond said the group wasn't actively pursuing space in the cannabis industry until the partners met with the CEO and co-founder of Tokyo Smoke and were enamored with their vision.
"Being comfortable with their business and their team made us want to do business with them," he said.
Drummond acknowledged there may be some backlash from conservatives in Saskatchewan, but believes that ultimately the province will embrace it and all the positives that come with it.
"It's an industry that's going be made available in July and I think a lot of the provinces are taking a progressive approach in preparing for it," said Drummond. "It's going to add to the economy, it's going to create jobs. There's going to be significant tax revenue."
For now, the store will only sell accessories and merchandise including in-house designed grinder cards, rolling papers and lighters. The store will also carry Pax 3 vaporizer's, Genius pipes, Concrete Cat incense and ash trays and more name brand items.
Drummond said once the federal legislation legalizing marijuana comes into effect in July they hope to begin selling cannabis as well, but said it depends on how the provincial government decides to embrace the new law and whether or not it opens up the industry to private businesses or not.
Two other partners have invested in the expansion of Tokyo Smoke – York Plains Investment Group, of which Drummond is managing director, and the Green Acre Capital Fund. He said, not including Tokyo Smoke, the three parties also intend to invest more into the cannabis industry in Saskatchewan when the time is right.
Drummond also stressed the importance of entering into the industry responsibly.
"As new participants in this industry, which is effectively brand new, we don't take our social responsibility lightly," said Drummond. He said that while the Saskatchewan government has a responsibility too, it isn't the only one.
"I think the industry and its participants have to take a large role in that too and ensure that people are educated on it so they understand it and then if they choose to consume, they consume responsibly," said Drummond.
Leo's Group plans to create awareness and educational tools and materials to distribute to the general public. The group will also be opening a store in Calgary in the fall and one in Manitoba in early 2018.
News Moderator: Ron Strider 420 MAGAZINE ®
Full Article: Leo’s Group breaking into cannabis retail market in Saskatchewan | Regina Leader-Post
Author: Jennifer Ackerman
Contact: Contact | Regina Leader-Post
Photo Credit: Michael Bell
Website: Regina Latest News, Breaking Headlines & Sports | Regina Leader-Post
