Back in January 2019, the Alcohol and Gaming Commission of Ontario announced the first 25 winners of its retail cannabis license lottery.
That store isn’t open yet, and that means the AGCO is issuing more fines.
The First Fine
While lottery participants were clearly warned that they were to be open for business on April 1st, the short timeline caused 11 lottery winners to miss that deadline, which triggered $25,000 draw-downs from their letters of credit submitted to the AGCO.
The Second Fine
Now, yet another deadline, April 30th has passed, and the numbered company behind the highly anticipated Tweed retail cannabis location still has yet to open its doors, making it one of 7 lottery winners to trigger an addition $25,000 fine from the AGCO.
What Are They Waiting For?
According to The Province, “Tweed is one of five outlets that still must obtain its retail store authorization from the AGCO — the second last step before the business can open — before passing a final inspection.”
Even though licensed cannabis producers were banned from entering the Alcohol and Gaming Commission of Ontario’s lottery, and capped at 9.9% ownership of any brick-and-mortar stores, the creative deal-making minds at Canopy found a clear way to get Tweed stores up and running either way.
While everyone waits for the one in London, Ontario to open up, be sure to subscribe to updates here so you never miss an important development.
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