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Home 🌿 Marijuana Politics 🌿 Ontario authorizes 420th cannabis retail store 🌿

Ontario authorizes 420th cannabis retail store

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Submitted by Marijuana News on Thu, 02/11/2021 - 10:26

In a well-timed tweet, the Alcohol and Gaming Commission of Ontario (AGCO) has announced that the province’s 420th cannabis retail store has been authorized to open.

The AGCO, which regulates cannabis retail in Ontario, sent the tweet at 4:20 p.m. on Tuesday.

After an incomprehensibly slow retail rollout, the province has picked up the pace in recent months. In December, the AGCO reported that it would, once again, double the pace of its cannabis Retail Store Authorizations (RSAs) and issue up to 80 each month.

In September of last year, the agency took steps to double its monthly RSAs from 20 to 40 a month.

According to AGCO data, there are now 430 cannabis retail stores that have been authorized to open in the province, another 140 applications that are marked as “In Progress,” and nearly 800 stores applications that are out of, or are approaching the end of, the public notice period.

Despite the progress, Ontario still lags behind Alberta, which has more than 500 stores operating across the province.

Quebec, the second-most populous province in the country, maintains a government monopoly on retail and, so far, the province has opened just 60 cannabis stores.
According to the latest numbers available from Statistics Canada, retail cannabis sales in Canada reached more than $260 million for the month of November, an increase of 93 per cent year over year.

Ontario led all provinces and territories in sales in November, topping more than $83 million, and also saw the largest increase in year-over-year sales, from $31 million in Nov. 2019 to $83 million in Nov. 2020, representing a 168 per cent increase.

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