Ontario

Mon
26
Aug
Mon
26
Aug

Ontario's cannabis lottery: the deck is stacked in favour of big money

Ontario announced the winners of its cannabis lottery for retail licences on Wednesday (August 21).

After a sleepless night for many applicants expecting the results to be announced before sunrise, the province’s Alcohol and Gaming Commission (AGCO) released the names of the 42 lucky winners just after 10 am.

Some 5,000 expressions of interest were submitted for licenses to open retail pot shops with more than 4,800 making the final draw. But a number of revelations surrounding some of the winners have led to questions about loopholes in the process. 

Thu
22
Aug

Here's where the next 42 Ontario cannabis stores could open

Ontario has released results of its second lottery selecting 42 operators hoping to run cannabis shops in the province.

The Alcohol and Gaming Commission of Ontario (AGCO) said it received 4,684 applicants in the draw.

Unlike the first lottery held earlier this year, which faced criticism for not including a merit component, applications for the second draw were required to show evidence that they have secured retail space that could be used as a store if they are selected, and that they have enough capital to open it.

Those selected will have until Aug. 28 to pay licensing fees, and provide a letter of credit for $50,000 to the regulator.

Wed
21
Aug

Ontario announces results of second cannabis retail lottery

Ontario has chosen 42 winners of its second cannabis retail lottery as it prepares to triple the size of its industry.

The province permitted an initial 25 stores after adult-use cannabis was legalized at a federal level in October 2018. Last month it unveiled plans to issue 50 new licences – eight for First Nation reserves and 42 for Ontario entrepreneurs – and it held a draw yesterday to produce those 42 winners.

Tue
20
Aug

50 cannabis retail licenses to be awarded in second lottery

Fifty new retail cannabis licenses will be awarded on Tuesday as Ontario moves forward with its second lottery.

The lottery will be handing out licenses to sell legal marijuana to 42 retail stores, including 13 in Toronto and six in the rest of the GTA, while eight more will be given to First Nations Reserves through a separate, first-come first-serve basis.

Unlike the first lottery in January, which saw 25 retail licenses handed out, this one required applicants to provide confirmation they had secured a lease, along with the capital to run it.

The Alcohol and Gaming Commision of Ontario said a bank letter confirming access to $250,000 cash and another confirming the ability to get a $50,000 standby letter of credit was needed to apply.

Fri
16
Aug

Ontario-based start-up is developing a cannabis breathalyzer for U.S. police

A breathalyzer that can detect both alcohol and cannabis has caught the attention of Y Combinator, a California-based start-up accelerator that has previously worked with Reddit, Dropbox and Airbnb.

Thu
15
Aug

Canada’s first high-end cannabis lounge opens in Toronto early 2020

Shauna Levy, former Design Exchange CEO and president, is bringing her design experience to Toronto’s first high-end cannabis lounge.

The lounge, byMinistry, the first major project from MoCanna, a Canadian cannabis company, is an 8,000-sq.-ft. space slated to open at 850 Adelaide St. W., Toronto in early 2020, byMinistry CEO Levy told The GrowthOp.

Mon
12
Aug

Ontario: Second pot lottery closes, fewer applicants expected

Cities and towns in Southwestern Ontario will soon find out whether they’ll be home to the any of the second wave of cannabis retail stores opening in the fall.

Applicants vying for a shot at one of 42 marijuana retail licences had until Friday to submit an application to the Alcohol and Gaming Commission of Ontario (AGCO), the province’s pot regulator, with the winners to be announced on Aug. 20.

But one leading cannabis lawyer says the financial requirements placed on applicants may be problematic, because many financial institutions remain skeptical of the marijuana industry.

Wed
31
Jul

Ontario’s cannabis retail lottery system stacked against small and legacy players hoping to go legit

It’s time for the Ontario government to take another look at its objectives for the cannabis retail market, Toronto-based cannabis lawyer Caryma Sa’d argues.

In an interview on CTV’s Your Morning Monday, Sa’d suggested the current lottery framework excludes many small cultivators from entering the legal market, thereby causing them to seek other options, including illegal dispensaries.

Fri
19
Jul

Cop Blocked: Concrete blocks no barrier to illegal dispensary owners

The city’s latest strategy to permanently shutter black market pot dispensaries has, quite literally, been pushed aside.

Their entrances sealed with 2,000 kilogram concrete blocks following raids by police and bylaw officers, one CAFE dispensary location was back in business Thursday afternoon after heavy-duty forklifts were used to move aside the slabs.

Pry bars sit in the forks of a hired telecarrier forklift outside the CAFE pot shop on Bloor St. W. on Thursday, July 18 2019

On Wednesday, a CAFE Dispensary on Fort York Blvd. was shut down, the storefront sealed with concrete blocks.

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