On December 13, 2018, the Government of Ontario announced that a temporary cap of 25 Retail Store Authorizations would be imposed while cannabis supply stabilizes. To select the 25 licensees, the Alcohol and Gaming Commission of Ontario accepted “Expression of Interest Applications” online from 12:01 AM E.S.T. on January 7th, 2019 until 12:00 PM E.S.T. January 9th, 2019.
Now, just days later, the results have been selected and are expected to be announced within hours. Lottery winners will have just five business days to turn in their completed application along with a $6,000 CAD non-refundable fee and a $50,000 letter of credit to boot.
After that, the lottery Rules have been established to facilitate the opening of these stores on April 1st, 2019. If the lottery winners aren’t open by then, they get fined. In the meantime, be sure to subscribe to updates here so you never miss an important update.
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