06:47:16 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,014,099,913
Close 2019-07-03 C$ 10.00
Market Cap C$ 10,140,999,130
Recent Sedar Documents

Globe says Hexo, rivals see Ontario opening more shops

2019-07-04 07:19 ET - In the News

See In the News (C-HEXO) Hexo Corp

The Globe and Mail reports in its Thursday, July 4, edition that Ontario is set to issue up to 50 new retail cannabis licences that will lift the tally of pot shops to 75 this year. The Globe's Marcy Nicholson writes that 42 of the new permits will be granted through a lottery in August. This follows in the controversial footsteps of Ontario's first round of licensing in January, when nearly 17,000 individuals and companies competed for 25 licences via a draw. This time, however, financial prequalifications are expected to deter inexperienced applicants. The additional eight licences will be issued on first nation reserves in a separate process. Those will be allocated on a first-come, first-served basis to those who have the approval of band councils. The staggered approach to opening more stores highlights the balancing act that provincial governments face in a bid to take business away from the illegal market while also navigating a national shortage of legal pot that some experts expect might soon shift into oversupply. Still, even after Ontario's latest expansion, the province will have dolled out fewer than half of the 156 retail cannabis permits already granted in Alberta.

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