There is a huge commotion seen in Toronto nowadays regarding the Cannabis retail shops that have been allowed to open in the province. The central government of the province has asked the municipalities to submit the decision of opening Cannabis retail stores and the location if any, in their respective areas. The retailers and producers of cannabis have already been waiting for the license and have applied for the paperwork regarding the same.
These licenses will grant them the allowance to selling cannabis from the onset of next spring, in April. This Friday, the paperwork submitted was thrown out of the offices when the Ontario municipality reversed its statements. It will now allow only cap total license at 25 and those will completely be on the basis of luck. A lottery will be drawn for the paperwork and 25 will randomly be chosen.
The lottery is expected to be held in the month of January of 2019. This decision will cut off the supply of cannabis in the entire nation and can cause a huge shock in the market, said BNN Bloomberg’s David George-Cosh. This decision will significantly blow-off the cannabis marketing sector. The CEO of ReoCn, Ed Sonshine, on the other hand, mentioned that their company had agreed to leases for locations, about 26 in number, worth more than a value of $2 Million. The lease was signed with the retailers who wanted to set their shops at premier locations in the province.
With the reversal in the pot shop plans in Ontario, chaos amongst the producers and thee retailers have strengthened against the lawmakers. With the highly-anticipated lottery that has been decided to allow the dealership of cannabis, the fate of a number of businessmen dealing with medical Marijuana is now on a stake. The expectations of the market growth, however, have not yet come up.
David Johnson is a respected writer known for his expertise in crafting compelling articles about cannabis. With a passion for exploring the intersection of cannabis, health, and wellness, he sheds light on the therapeutic properties and potential uses of this versatile plant. David’s in-depth analysis and thought-provoking commentary offer readers a deeper understanding of the evolving landscape of cannabis legislation, consumption methods, and industry trends.
