Canada’s province of Ontario will be doubling the pace of new cannabis store approvals.
Ontario’s cannabis store regulator will double the number of stores it licenses per month according to an announcement this week from the Alcohol and Gaming Commission of Ontario (AGCO).
The AGCO said it had issued 164 store licenses to date, with 150 stores open.
“At the government’s direction, the AGCO is now moving to double the pace of store authorizations this fall,” said the agency.
“The AGCO will soon contact all affected retail store applicants directly to advise them of any change to the timing of the issuance of their store authorizations.”
There was no clear time given on exactly when the increased pace of licensing will take effect.
“I think it still remains to be seen whether or not that doubling applies to September,” said Omar Yar Khan, national cannabis lead with Toronto consultancy Hill+Knowlton. “I think it might, but if not, I suspect it’ll definitely apply to October.”
AGCO had previously committed to authorizing approximately 20 new stores per month.
“I think that there is an opportunity, and I think there is an appetite within the sector, to see that cap lifted even further, perhaps to 75 (store authorizations) a month or even 100 a month,” Khan told Marijuana Business Daily.
“The government will need to work with OCS as they work to build up their warehousing capacity,” Khan added.
“But I think folks within the industry and folks who are waiting on their applications would be happy to hear that there is a plan in place to increase the (store) rollout in a responsible way.”
