The Ontario government is now accepting application to enter a lottery for 25 retail marijuana licenses in the province.
The government announced (on December 13) they would put a temporary cap of 25 retail locations in the province to deal with the current supply shortages of cannabis.
Finance Minister Vic Fedeli said the cap on the number of retail locations in Ontario will be lifted once the cannabis supply issue has been dealt with by the federal government.
“We know that putting out 25 stores, which is the amount of cannabis that we can guarantee receiving, is the right way to go,” said Fedeli. “This is only temporary. Once the federal government can guarantee a better supply then we know we’ll begin to issue more licences as we go along.”
The government of Ontario has given the Alcohol and Gaming Commission of Ontario (AGCO) the mandate to hold a lottery to determine who may apply for marijuana Retail Operator Licences.
Expression of Interest Applications will be accepted online from 12:01 AM Eastern Standard Time (EST) January 7, 2019 until 12:00 PM (noon) EST January 9, 2019.
The AGCO said they will publish the results of the lottery, to be held on January 11, 2019, on its website within 24 hours of the lottery draw.
The application process entails a $75 fee to enter the expression of interest lottery. The 25 winners of the lottery will have to move quickly in order to meet all the requirements to open their respective retail locations by April 1.
The 25 that are selected from the lottery will have five business days to submit their application, along with a $50,000 letter of credit and a $6,000 non-refundable fee.
By Marijuana.Ca Staff