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by Stockwatch Business Reporter

The Canadian Securities Exchange Composite Index lost 10.92 points to 653.37 Wednesday. The CSE Composite Index is an excellent indicator of the cannabis sector as a whole, as the 20 biggest companies (by market cap) in the index are all cannabis companies. The index fell despite news that Ontario will allow 50 more cannabis stores to open, starting in October. This will be the second round of store openings in Ontario; only 25 stores were allowed to open through the first round. Some of those 25 stores, which were supposed to open April 1, are still not up and running. Because of that, to enter the lottery for one of the 50 stores in this round, the retailers will have to show evidence that they have secured retail space and have the required capital to open a store.

The addition of 50 cannabis stores in Ontario will be welcome news to provincial residents who have, so far, tried to buy from the government's on-line marijuana store. Once the 50 stores have opened, it will bring the provincial total to 75 cannabis stores. Over 2,400 Ontario residents have complained to the provincial ombudsman about the on-line store, referencing delays and delivery problems. The Ontario Cannabis Store was the single most complained about government organization in the last year. Though the increased stores are important and positive news for the cannabis sector in Ontario, the number of stores still pales in comparison with the liquor sector, which is hardly surprising. As of September, 2017, the Liquor Control Board of Ontario was running 651 liquor stores in the province.

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