Harrys receives tobacco tax licence from Saskatchewan

Executive Summary

• Harrys Manufacturing Inc.'s subsidiary, Harrys International Manufacturing Inc., has received a tobacco tax licence from the Saskatchewan Ministry of Finance.
• The licence allows the company to import tobacco into Saskatchewan on a regular basis without paying the deposit prior to entry, as required by the Tobacco Tax Act, 1998.
• CEO Nick Brusatore views this as a strategic move to compete with unregulated markets and large American companies controlling the Canadian tobacco industry.

Key Details

• Licence Recipient: Harrys International Manufacturing Inc. (wholly owned subsidiary of Harrys Manufacturing Inc.).
• Issuing Authority: Saskatchewan Ministry of Finance.
• Licence Purpose: Conduct business as a licensed supplier.
• Key Privilege: Permits the holder to import tobacco into Saskatchewan on a regular basis without paying the deposit prior to entry of tobacco, in accordance with clause 8(1)(b) of the Tobacco Tax Act, 1998.
• Strategic Intent: To work with tax-exempt retailers and wholesalers to supply a highly regulated, top-quality product, aiming to create competitive change in the Canadian tobacco industry and compete against large American companies.

Notable Quotes

• "The licence creates a bridge to work with tax exempt retailers and wholesalers to supply a top-quality highly regulated product competing with the unregulated market in Canada. We see this as a potential turn of events in the tobacco industry to create competitive change and squeeze the large American companies that currently control the Canadian tobacco industry." — Nick Brusatore, Chief Executive Officer