The City of Kawartha Lakes has been selected to host a cannabis retail store following a second lottery draw by the Alcohol and Gaming Commission of Ontario (AGCO).
On Wednesday morning, AGCO announced the results of its cannabis retail licence draw, held Tuesday, which saw 42 new store authorizations.
Among them is Huge Shops Ontario Inc., which proposes a store at Fowlers Corners at 566 Frank Hill Rd and Highway 7 in the City of Kawartha Lakes. The proposed location – which currently houses a Coffee Time franchise – was one of seven chosen in the draw from the East Region.
An application for a cannabis retail store is at this Coffee Time on Frank Hill Road and Highway 7 in Fowlers Corners.Last December, FSD Pharma announced it was investing $1.3 million in the Toronto-based Huge Shops to acquire a minimum of 10 Coffee Time stores and become a recreational cannabis supplier.
FSD Pharma is also setting up a major medicinal marijuana facility in Cobourg.
AGCO says the 42 stores were selected from 4,864 eligible expressions of interest.
Selected applicants have until Aug. 29 to pay licensing fees and provide a letter of credit for $50,000 to the AGCO, at which point the regulator will undertake its full eligibility and licensing review. The AGCO will only license applicants and authorize stores that meet all legal and regulatory requirements.
More to come.