The results of the Alcohol and Gaming Commission of Ontario (AGCO) cannabis retail store lottery are in.
In Timmins the selected applicant is CC alliance. The proposed store is at 273 Pine St. S.
The applications on the wait list are:
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2161907 Alberta Ltd., with the proposed location at 1869 Riverside Dr.
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2708227 Ontario Inc, with the proposed location at 685 River Park Rd.
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Baby Bare Inc, with the proposed location at 26 Father Costello Dr.
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11537628 Canada Inc., with the proposed location at 685 River Park Rd.
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Justin Farbstein, with the proposed location at 1869 Riverside Dr.
In July, Ontario announced it would be licensing 50 new retail stores to sell legal marijuana.
Of those, 42 are being selected by the lottery and eight are for stores on First Nations reserves. The applications for the First Nations stores opened July 31.
In the north region, in addition to Timmins there are stores slated for Kenora, North Bay, Sault Ste. Marie, and Thunder Bay.
It’s expected that the approved stores will start opening in October.
According to the AGCO, 4,864 eligible of expressions of interest were received for the lottery.
The applicants drawn in the lottery are eligible to apply for a cannabis Retail Operator Licence and Retail Store Authorization. The deadline to do that is Aug. 28.
The applicants will also still undergo the AGCO’s full eligibility and licensing review, and meet all the legal and regulatory requirements.
To take part in the lottery, applicants had to meet pre-qualification requirements.
Those included proving that they can obtain $250,000 in cash or cash equivalents, confirmation from a bank, credit union or caisse populaire that they can get a Standby Letter of Credit for $50,000 within five business days, proof of having secured retail space that available to operate a cannabis retail store out of by October 2019.
Local residents can still have a say on the location of the store.
The AGCO says once it receives retail store authorization from the lottery applicants, people in the community can provide written submissions if they think the location is not in the public interest.
