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Real estate transactions: Coffee company buzz about pot lounges

A prominent Canadian company is looking at setting up cannabis lounges in its western outlets. These potential real estate transactions in Alberta give a new meaning to having a mellow cup of Joe. The company hopes to team up with National Access Cannabis Corp. (NAC) to roll out the plan where it's legal to do so. NAC has basically been focusing on the medical marijuana industry so far, but this would give it an inroad to the retail market.

The next step is for NAC to become licensed to sell cannabis products in partnership with Second Cup's retail outlets in Alberta -- paving the way for other retail opportunities. The company aims to sell leading cannabis products from reputable companies like CannaRoyalty Corp. out of Ottawa in some Second Cup stores. The CEO of Second Cup said the opportunity is a win-win for both company franchise partners and shareholders.

The plan is to continue to make the journey into the east as laws allow. NAC already has medical marijuana facilities in Victoria, Calgary, Saskatoon, Winnipeg, Ottawa, Toronto and Halifax. The deal hinges on the stamp of approval of store franchisees and retail landlords.

With the laws changing around marijuana use, increased real estate transactions may be likely if retail facilities begin selling cannabis and cannabis-related products. The help of an Alberta lawyer may prove invaluable in these types of transactions. In this new territory, a lawyer's advice may be necessary before, during and after any possible contractual agreements. A lawyer ensures the best interests of his or her client is always at the forefront of any potential deal.

Source: albertafarmexpress.ca, "Second Cup to set up cannabis lounges in West", April 12, 2018

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