The Ontario Government has published the results of Expressions of Lottery Interest for retail Cannabis stores (the Lottery) the under Ontario Regulation 468/18 (the Regulation) made under the Cannabis Licence Act, 2018 (the License Act).
According to the Alcohol and Gaming Commission of Ontario (AGCO), which oversaw the lottery, on a provincial level, there were 17,320 expressions of interest for the 25 retail storefront cannabis licenses that were issued. Of these, 415 applicants were disqualified under Rules #4, #6, #8, and #9 of the Regulation.
Of the remaining 16,905 entrants that were included in the draw, on a regional basis:
- In the east region, five applicants were selected out of a total of 11,804 entrants;
- In the GTA region, six applicants were selected out of a total of 13,453 entrants;
- In the North region, two applicants were selected out of a total of 8,545 entrants;
- In the Toronto region, five applicants were selected out of a total of 13,693 entrants; and,
- In the West region, seven applicants were selected out of a total of 12,294 entrants.
Combined applications across different regions meant that 59,069 regional entries were received by the AGCO.
The retail model for cannabis is expected to be established by April 1, 2019.
The full list of the results of the expression of lottery interest is available on the website of the Alcohol and Gaming Commission of Ontario.
For more information, please call Barbara Hendrickson at BAX Securities Law (416) 601 -1004.
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