EDMONTON -- Former Edmonton Oilers captain Mark Messier is suing an Edmonton businessman, alleging he lost more than half a million dollars in an Alberta cannabis company investment.

Messier, 59, is seeking damages from Ed Moroz, the CEO of Edmonton area-based Destiny Bioscience, according to court documents filed in November in New York state.

The lawsuit claims Moroz broke a personal guarantee that promised Messier wouldn’t lose money after the former hockey star’s holding company bought 400,000 shares of Destiny at a price of $500,000.

“Moroz also repeatedly solicited Messier’s investment and represented that the investment was a sure thing -- Messier could not lose money on it,” reads the lawsuit. 

Sundial Growers Inc. SNDL, -7.45% has filed a shelf registration to issue up to $200 million in securities. The Canadian cannabis company said it has also filed a preliminary prospectus supplement for a new at-the-market equity program for up to $150 million of its common shares.

Proceeds will be used to pay down debt, to finance possible acquisitions or invest in equipment, facilities and for general corporate purposes. U.S.-listed shares of Sundial, which once had a $1 billion valuation, were down 16% premarket at 64 cents. The stock has fallen 74% in 2020 to date, while the Cannabis ETF THCX, 0.51% has gained 9% and the S&P 500 SPX, 0.65% has gained 13%.

According to recently released financial statements, the Ontario Cannabis Store (O

Alberta’s limit on cannabis shop ownership to 15 per cent of the province’s total number of stores is going up in smoke.

On Nov. 1, the cap imposed by the former NDP government, which also set a maximum number of outlets owned by a single entity at 37, will disappear.

Two years into recreational marijuana legalization, the fledgling market is mature and stable enough to allow a move to reduce bureaucracy and enhance competition, Alberta Gaming, Liquor and Cannabis (AGLC) said in an email.

“Removing the ownership cap is part of government’s red-tape reduction strategy aimed at creating new opportunities for businesses in Alberta and removing unnecessary regulatory barriers,” it said.

Kieley Beaudry would love patrons to tour her licensed indoor pot patch, sample its produce and purchase their favourite buzz on their way out.

If wineries and breweries can do it, she says, Alberta’s legal cannabis producers should have the same right.

It’s something the sector has been lobbying for, particularly since Ontario and B.C. have begun moving towards the so-called farm to table model, with the latter province aiming at 2022 for small-scale producers.

“I want Alberta to beat B.C. to it,” said Beaudry, who operates Parkland Flower, a micro-grow in Acheson, west of Edmonton.

“It would help build such a vibrant, beautiful industry.”

People searching for new medicinal cannabis products will likely be able to find what they need on a well-known Canadian drug store's website.

Shoppers Drug Mart will partner with Alberta-based Atlas Biotechnologies to provide smoke free, fast-acting products for patients across Canada.

Sheldon Croome, president and CEO of Atlas, says the products are tailored towards the over 50 baby boomer generation and also seniors who want safe, easy and consistent dosages. 

“Topical creams, transdermal patches similar to a nicotine patch, inhalers…capsules which is a fast acting edible pill, where in just 15 minutes the patient can see the onset and effects of the cannabis treatment.”