Three more ‘Hobo’ pot shops to open in Ontario
Hobo Cannabis Company announced on January 6 that it will open three new retail locations across Ontario. Two will be located in Ottawa; the third will be located in Timmins.
Since the legalization of recreational cannabis in October 2018, the B.C.-based retailer has enjoyed good success in the retail market. It first Ontario retail location in Ottawa’s Centretown neighbourhood opened in April 2019. It is currently one of Ontario’s top-performing retail stores with $9.7 million in net sales in its first six months of operation.
“Our group couldn’t be more excited about expanding in Ontario, especially after the successful launch of our first Hobo location in Ottawa,” said Harrison Stoker, VP Brand at Donnelly Group. “We’re entering into smart, long-term relationships with operators who understand our relentless focus on the customer experience and its subsequent profitability, versus driving shareholder value through acquisition-style deals as was seen in this second allocation.”
Hobo’s three new Ontario retail locations—in the ByWard Market and on Merivale Road in Ottawa, and in Timmins’ Mountjoy neighbourhood—will be opened under service agreements with lottery winners.
Once open, the three new retail locations will expand Hobo’s presence to eight stores nationwide. This announcement follows the ongoing construction of four additional stores across Canada, including Vancouver’s Robson Street, Lethbridge Downtown, Calgary Mission, and Edmonton Garneau.
More retail cannabis stores are expected to be opened across Ontario this year once the province ends its lottery-licence scheme, and opens the market entirely.