Despite Issues, Lottery for Most Cannabis Stores Remains in Place – LPC
The Government of Ontario announced it will give out licences for 50 cannabis stores to open as early as October 2019. The Alcohol and Gaming Commission of Ontario (AGCO) will hold a lottery on August 20. That includes licences in the north of the province, which was ignored the first round. Licences for forty-two stores will include 13 in the city of Toronto and six in the Greater Toronto Area. Eleven will go to the southwestern region, seven in southeastern Ontario, and five in the north.
A further eight licences will be allocated to First Nations through a separate process.
“Our government is continuing to take a responsible approach to opening cannabis stores across Ontario,” Phillips said. “With marginal improvements in national supply, we are proceeding to issue up to 50 new cannabis store licences.”
Government Addresses Challenges of Lottery System – LPC
The government first announced that cannabis stores would be chosen through a lottery system in December 2018. It provided more details about the retail cannabis licence structure in February 2019. However, not all stores opened by the April 1 deadline. On April 30, seven Ontario cannabis retail stores penalized lost a total of $50,000 in fines each.
In the next lottery process, applicants for cannabis stores will have to show evidence that they will be able to open. That includes having a retail space already secured. Further, they will have to show letters confirming access to $250,000 cash and $50,000 of standby credit.
First Nations will be able to apply for one of eight cannabis stores starting in July. The band council must approve a location within First Nation lands. All licences will be issues on a first-come, first-served basis.
This editorial content from the LPC News Editor is meant to provide analysis, insight, and perspective on current news articles. To read the source article this commentary is based upon, please click on the link below.