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Ont. government now accepting applications for pot store licence lottery

Ont. government now accepting applications for pot store licence lottery
Business
TORONTO -- Applications are now being accepted from those looking to enter a lottery to apply for the first 25 retail cannabis licences in Ontario.

The began to accept expressions of interest on its website at 12:01 a.m. today and will take applications until noon Wednesday.

The draw for the licences will take place on Friday, with the results expected to be announced within 24 hours.

There is a $75 fee to submit an expression of interest and those selected through the lottery will have five business days to turn in their application along with a $6,000 non-refundable fee and a $50,000 letter of credit.

The commission says the rules have been established to encourage the opening of retail cannabis stores by April 1 -- the first day they will be allowed in Ontario -- and those who are not committed to meeting that deadline should not sign up for the lottery.
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