Lottery For Ontario Retail Cannabis Licences to Take Place Next Week

Article by CTV News

Lottery for Ontario retail cannabis licences to take place next week A vendor displays marijuana for sale during the 4-20 annual marijuana celebration in Vancouver on April 20, 2018. Darryl Dyck

The Ontario government will accept entries next week from those looking to enter a lottery to apply for the first 25 retail cannabis licences in the province.

The Alcohol and Gaming Commission of Ontario says expressions of interest can be submitted online Monday through noon Wednesday, with the draw to take place on Friday and results to be posted within 24 hours.

There is a $75 fee to submit an expression of interest and those selected through the lottery will have five business days to turn in their application along with a $6,000 non-refundable fee and a $50,000 letter of credit.

The commission says the rules have been established to encourage the opening of retail cannabis stores by April 1 — the first day they will be allowed in Ontario — and those who are not committed to meeting that deadline should not sign up for the lottery.

Read the full article here.

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