AGCO Announces Cannabis Retail Licensing Details
If you are one of the many hopeful cannabis retail store entrepreneurs in Ontario you still remember December 13, when the Ontario Government abruptly announced major changes to the allocation of cannabis retail store licenses and authorizations.
Essentially, the Government said that due to a shortage of legal cannabis supply from federally licensed producers, they will provide the AGCO the authority to license up to 25 stores, only, at this time.
This is ridiculous considering there were at least 92 pot shops operating illegally in Toronto alone before the October 17, 2018 legalization in Canada.
CTV News reports that “There were 92 illegal cannabis storefronts in Toronto on Oct. 16, prior to legalization, according to Bruce Hawkins, a spokesman for the city’s municipal licensing and standards department. That number has been whittled down to 21, as of Nov. 6, due to shutdowns of their own accord or by the city and police, he added.”
As you may already know, a lottery is being held to determine who will be able to apply for one of the 25 stores. The AGCO will run the lottery and a third-party fairness monitor will oversee it.
Who’s The Third Party Fairness Monitor in the AGCO Lottery?
The AGCO has retained the services of KPMG to act as a fairness monitor to oversee this lottery.
KPMG will not be selecting the lottery winners but will monitor the lottery in order to assess whether it is conducted fairly and according to the established rules.
The AGCO will publish the lottery rules once they have been reviewed by KPMG. We are aiming to publish the lottery rules on January 2, 2019.
How To Participate in the AGCO Lottery For Cannabis Retail Store Licenses
Here’s the good news for Ontario cannabis retail store entrepreneurs. If you want to participate in the AGCO lottery you simply need to submit an Expressions of Interest, online, from January 7-9, 2019.
Who Should Participate: Interested individuals who want to learn more about the Expression of Interest and Lottery.
How To Participate: You need to register to ensure your space is held. Space is limited.
How Does the AGCO Lottery Work?
The AGCO is hosting a webinar on January 4, 2019.
The purpose of this webinar is to help all interested parties and cannabis entrepreneurs understand the rules of the lottery and the process for participating in it.
Key AGCO staff and KPMG, the Third Party Fairness Monitor, will host the webinar and discuss the following subjects:
- What are the rules of the lottery and how will the AGCO run it
- What is an Expression of Interest and how to submit one
- How the AGCO will ensure fairness and transparency in the lottery.
The AGCO will be taking questions and responding to questions from webinar participants during the event.
When Exactly is the AGCO Lottery Webinar?
January 4, 2019, 10:00 a.m. – 12:00 p.m. EST
To register for this webinar, please follow this link.
On the day of the event, please return to the link above and click on “Already Registered? Go to the login page” link, enter the email address you used to register and click “submit”.
The AGCO encourages you to join the webinar at least 15 minutes before the scheduled start time so that you can test your system.
To join the webinar you’ll need a computer or tablet connected to the internet, with either headphones or speakers to hear the presentation, and a keyboard to type your questions.
The webinar is a live event and will be broadcast in English and French.
You will have the option to view the presentation with closed captioning.
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