The Globe and Mail reports in its Monday, April 1, edition that fewer than half of Ontario's 25 pot shop lottery winners will be ready Monday. The Globe's Jameson Berkow writes that industry observers were expecting more than 1,000 stores to open within the first two years of the private market.
This week's grand openings of cannabis stores in Ontario, however, promise to be underwhelming. Citing countrywide supply shortages, the provincial Conservative government moved to what it called a "phased" approach in mid-December, issuing the right to apply for just 25 cannabis retail licences randomly via lottery the following month.
The winners were mostly first-time business owners with no previous retail or cannabis experience. Less than half will be ready to open Monday. The others are still waiting for a licence, but many more are waiting just for the chance to apply. Similar to the situation in Alberta, when regulators there stopped issuing new store permits last November, entrepreneurs across Ontario have been left with large expenses and no clear view of when they may get to start earning revenue. The province says no further licences will be issued until December, 2019.
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