Armina Ligaya, The Canadian Press:
Second Cup wants to serve up a different kind of buzz by converting some of its coffee shops into cannabis dispensaries and, when legal, pot lounges.
Shares in the Canadian restaurant operator rose as much as 31 per cent to $3.62 apiece in early afternoon trading on Thursday after it announced that it has signed an agreement with marijuana clinic operator National Access Cannabis to develop and operate a network of recreational pot stores. However, neither currently has a licence to sell marijuana, so the deal is contingent on approval from the governments, as well as from franchisees and landlords.
If and when regulations allow, the two companies also want to open coffee shops for cannabis consumption, said Second Cup’s board chairman Michael Bregman.