Walmart Canada Mulling Sale of Cannabis Products

Article by Reuters

Walmart Canada mulling sale of cannabis products REUTERS

Walmart Inc.’s Canadian unit said on Tuesday it is exploring the possibility of selling cannabis-based products, but has no immediate plans to get into the business. The company’s shares rose nearly 3 per cent to US$97.48 in afternoon trading. Walmart is the first major retailer to show an interest in being a part of Canada’s burgeoning marijuana industry, as other big U.S. companies, mainly in the alcohol and beverage industries, begin to consider entering the market for cannabis-infused products.

Last month, Coca-Cola Co. said it was closely watching the marijuana drinks market for a possible entry, while Corona beer maker Constellation Brands has invested more than US$4-billion in cannabis producer Canopy Growth.

“Walmart Canada has done some preliminary fact-finding on this issue, but we do not have plans to carry CBD products at this time,” Walmart spokeswoman Diane Medeiros told Reuters.

Cannabidiol, or CBD, is the non-psychoactive chemical found in marijuana and does not cause intoxication.

Read the full article here.

About Dankr NewsBot

Beep Boop. I'm just a bot who brings you the dankest news in the biz

Leave a Reply

Powered by Dragonballsuper Youtube Download animeshow