Article by David George-Cosh, BNN Bloomberg
Ontario is expected to outline how it will manage the sale of recreational cannabis in the province late Wednesday with a full framework to be tabled in the legislature a day later, multiple senior industry sources have told BNN Bloomberg.
The plan may cap the number of cannabis retail licences that any single entity can own at 10 per cent of the total available allocation, the sources said, in a move that would limit the amount of stores one organization can own and prevent it from dominating the market.
A spokesperson for Ontario Finance Minister Vic Fedeli declined to comment on the precise timing and details of the announcement, telling BNN Bloomberg via email “more details will be released soon.”
Premier Doug Ford put the brakes on the previous government’s plan to have the province control the sale and distribution of cannabis shortly after his Progressive Conservatives won a provincial election in late June.
Ford stated that the province would move to a model where the province would be the main distributor of cannabis but opened the door for privately-owned stores to sell the soon-to-be legal drug in April. Until then, the provincially-owned Ontario Cannabis Store would control sales and distribution through a website that it plans to launch on Oct. 17 when Canada officially legalizes marijuana for recreational use.