Second Pot Lottery Closes, Fewer Applicants Expected
Cities and towns in Southwestern Ontario will soon find out whether they’ll be home to the any of the second wave of cannabis retail stores opening in the fall.
Applicants vying for a shot at one of 42 marijuana retail licences had until Friday to submit an application to the Alcohol and Gaming Commission of Ontario (AGCO), the province’s pot regulator, with the winners to be announced on Aug. 20.
But one leading cannabis lawyer says the financial requirements placed on applicants may be problematic, because many financial institutions remain skeptical of the marijuana industry.
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