Winners of Toronto's 13 new cannabis retail licences announced

After announcing in July that the Ford government would be issuing 50 new cannabis retail licences across the province, the province set up a second lottery for those that were looking to enter the nascent industry.

Eight licences were allocated to go to businesses in First Nations communities, while the remaining 42 were distributed across the province.

The barriers for entry were higher for this draw. As the government’s new pre-qualification requirements will streamline the licensing process with the AGCO and help ensure the readiness of applicants.

AGCO has released the results of the second cannabis lottery. 42 applicants have been notified to apply for a cannabis Retail Store Authorization in Ontario. https://t.co/0lJbIBsk23

— AGCO (@Ont_AGCO) August 21, 2019

Prospective retailers had to demonstrate they have $250,000 in cash, or cash equivalents, a letter of credit for $50,000, and a secured retail space.

On Tuesday, a total of 13 were issued for Toronto, with the winners selected at random by a third party. If all the stores are able to open it will bring the total number of cannabis retailers up to 18 in the city.

The names of the winners, as registered with the Alcohol and Gaming Commission of Ontario was released today on the AGCO’s website:

A representative of the AGCO told Grow in a statement that the lottery winners have been notified and they must now apply for a cannabis Retail Operator Licence (ROL) and a Retail Store Authorization (RSA). Applicants have until August 28, 2019, to do so, at which point the AGCO will undertake its full eligibility and licensing review.

“As part of the eligibility assessment, the AGCO will conduct police and background checks on applicants, and persons interested in the applicant, as needed, to determine eligibility for the issuance of the licence,” said the statement. “The AGCO will only licence applicants and authorize stores that meet all legal and regulatory requirements.”