TORONTO – Cannabis retailers in Ontario who have failed to open their stores by a government-set deadline are facing a new round of financial penalties.
In all, eleven pot retailers have been fined $12,500 each for not opening their stores by April 15.
Twenty-five retailers were selected through a government lottery to open the first brick-and-mortar cannabis stores on April 1, but less than half met the deadline.
The Alcohol and Gaming Commission of Ontario established a system of escalating penalties for retailers who didn’t start serving customers on time.
The agency says it has drawn down on letters of credit submitted by the licencees – some for a second time – taking $12,500 from the $50,000 initially provided.
Stores that do not open by the end of the month could have further penalties.
There are currently 13 cannabis shops operating across the province.