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The government of Ontario has announced it will abandon the current lottery system for cannabis retail and move towards an open licensing system beginning January 2020 that will see the removal of a cap on the number of private cannabis stores across the province.

The Alcohol and Gaming Commission of Ontario (AGCO), the provincial regulatory body that is in charge of the cannabis retail system will begin accepting operator licence applications from prospective retailers on Jan. 6, 2020, followed by store authorization applications on March 2, 2020.

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Store authorizations will be issued starting in April, at a rate of approximately 20 a month, similar to the pace in which Alberta awards cannabis store licences. By the end of 2020, there could be close to 250 stores across the province.

The government will also eliminate pre-qualification requirements for prospective retailers. The second cannabis lottery required that applicants secure leases and provide a letter of credit from a financial institution proving they had a loan of at least $250,000.