Lift & Co.’s Cannabis Retail Training Certification, CannSell, Will Prepare Ontario’s Next 50 Retail Stores for the Safe ...
July 04 2019 - 7:30AM
On July 3, the Ontario Government announced that they have given
regulatory authority to the Alcohol and Gaming Commission of
Ontario (“AGCO”) to issue an additional 50 cannabis retail store
licences. Lift & Co. Corp. ("Lift & Co." or the "Company")
(TSXV: LIFT) (OTCQB: LFCOF) will ensure the safe and responsible
sale of cannabis with CannSell (CannSell.ca), the sole approved and
mandatory training and certification for Ontario’s cannabis
retailers.
In total, more than 1,500 Ontarians have completed the CannSell
certification, permitting them to work in the province’s cannabis
retail stores. Over 2,500 Ontarians have created a CannSell profile
since the program launched for the initial round of cannabis retail
openings in Ontario this past April. As Ontario continues to scale
cannabis stores, CannSell has a potential addressable opportunity
of $60 million in the province1.
“There has already been significant demand for CannSell training
in Ontario for the initial 25 stores,” said Matei Olaru, CEO of
Lift & Co. “We’re excited about the future growth of CannSell
with the number of retail locations in Canada’s most populous
province tripling after this summer, and the upcoming legalization
of additional product formats later this year. This includes
upcoming CannSell lessons on edibles, and our ability to provide a
direct touchpoint between the industry and Ontario’s budtenders—who
are vital to educating consumers on available products— through
brand education modules.”
In a recent joint study presented at the Lift & Co. Cannabis
Expo Toronto 2019, the Company found, according to budtenders, that
about 70% of consumers who have visited retail stores didn’t know
what they were going to purchase before entering the store. Retail
staff are the first point of contact for many consumers and are an
essential resource for Canadians. Through this study, Lift &
Co. estimates an additional 1.5 million new consumers will be
entering the market later this year when additional product formats
become available, ushering in a new phase of education requirements
for retailers and consumers.
Lift & Co. leverages its exclusive access to Ontario's
cannabis sellers—“budtenders”—by developing supplementary training
modules and data products, including a budtender survey panel which
is a first-of-its-kind data product in Canada. CannSell also
provides a compliant trade marketing solution, through brand
education modules, for cannabis brands that are otherwise severely
restricted in their capacity to market their products.
CannSell launched on February 25, 2019, as the only training
program approved by the AGCO. Developed through an exclusive
partnership with Mothers Against Drunk Driving (“MADD”) Canada,
CannSell educates cannabis retail employees on the responsible sale
of cannabis, as well as their legal and regulatory obligations.
CannSell also provides basic knowledge about cannabis to ensure
those who are selling it understand its various forms, uses and
potential risks.
Lift & Co. also launched CannSell Expert on March 18, 2019,
an advanced certification program available to cannabis retailers
across Canada. CannSell Expert provides retail staff with the
deeper cannabis knowledge necessary for superlative customer
service in areas of product knowledge, plant genetics and
consumption methods.
In addition to CannSell Ontario, Lift & Co. retail training
is being utilized in eight provinces and territories, including by
Crown corporations such as the Nova Scotia Liquor Corporation,
Prince Edward Island Cannabis Management Corporation, and numerous
private retailers across the country.
About Lift & Co.Lift & Co. (TSXV: LIFT)
(OTCQB: LFCOF) is a publicly traded technology company modernizing
the cannabis industry.
Forward-looking statementsNeither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or accuracy of this release.
Although the Company has attempted to identify important factors
that could cause actual results, performance or achievements to
differ materially from those contained in the forward-looking
statements, there can be other factors that cause results,
performance or achievements not to be as anticipated, estimated or
intended.
There can be no assurance that such forward-looking statements
will prove to be accurate or that management's expectations or
estimates of future developments, circumstances or results will
materialize. Accordingly, readers should not place undue reliance
on forward-looking statements. The forward-looking statements in
this news release are made as of the date of this release. The
Company disclaims any intention or obligation to update or revise
such information, except as required by applicable law, and the
Company does not assume any liability for disclosure relating to
any other company mentioned herein.
SOURCE Lift & Co. Corp.
For further information:Lift & Co.Sara
McMillen, Director Communications and Government Relations, Lift
& Co.smcmillen@lift.co1-416-220-9536
Investor Relations:Thesis CapitalPrit Singh, 905-510-7636,
psingh@thesiscapital.ca
1 Mackie Research Capital Corporation, Initiating Coverage –
Lift & Co. Corp., Getting Ready To Grow Like A Weed!, July 2,
2019
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/36180a8c-7cbd-4075-ad4e-dfdc6dedef1e
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