Cannabis Entrepreneurs in ‘Tough Spot’ After Ontario Caps Licences

Article by Leah Hansen, CBC News

Cannabis entrepreneurs in 'tough spot' after Ontario caps licences Facebook Twitter Reddit LinkedIn Koby Smutylo leased 2 stores in Ottawa before government's 25 licences cap Leah Hansen · CBC News Cannabis entrepreneur Koby Smutylo said he is frustrated with the provincial government's decision to cap the number of licences for retail pot shops. (Radio-Canada)

An Ottawa cannabis entrepreneur who’s already leased two spaces for prospective stores says he’s frustrated with the Ontario government’s decision to cap the number of licences for retail pot shops.

The province initially said it would not limit the number of licences issued for retail stores, but it reversed course last week, saying it would take a “phased approach” due to “severe supply shortages” across the country.

Only 25 licences will be issued to private retailers by Apr. 1 during the “initial phase,” with a lottery system to determine which owners are eligible.

Koby Smutylo is the president of Retailgo Corp., a company that operates a proposed dispensary chain called Ouid (pronounced “weed”).

He’s already leased storefronts on Bank Street and Elgin Street and has hired staff and consultants to strengthen his application.

Read the full article here.

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