Applications of retail cannabis licences in Ontario now being accepted
The Alcohol and Gaming Commission of Ontario will draw for retail cannabis licences on Friday, January 11
TORONTO – Applications are now being accepted from those looking to enter a lottery to apply for the first 25 retail cannabis licences in Ontario.
The Alcohol and Gaming Commission of Ontario began to accept expressions of interest on its website at 12:01 a.m. today and will take applications until noon Wednesday.
The draw for the licences will take place on Friday, with the results expected to be announced 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.
Recreational cannabis can currently only be purchased legally in Ontario through a government-run website.