Quebec to offer legal cannabis at $4.49 a gram, beating grey-market price

Cannabis company Hexo Corp. says it is aiming to undercut prices in the illicit market with its new 28-gram product, that costs as much as one dollar less per gram than at a illegal dispensary.

Hexo says the product will be on sale in Quebec cannabis stores for $125.70 taxes included, or $4.49 per gram.

Statistics Canada’s latest price analysis based on crowdsourced data showed that the average cost of a gram of cannabis was $7.37 during the third quarter, with the price of legal and illegal weed slipping to $10.23 and $5.59 per gram, respectively.

Hexo chief executive Sebastien St-Louis said the product under the brand name Original Stash is aimed at the half of Canadians who are continuing to buy pot from the illicit market one year after legalization.

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