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This is to inform you that the AGCO has released the rules associated with the upcoming retail cannabis lottery. Please note the following:
- Expression of Interest Applications will be accepted online from 12:01 AM Eastern Standard Time (EST) January 7, 2019 until 12:00 PM (noon) EST January 9, 2019.
- There is no advantage or disadvantage to when an Applicant submits an application during this timeframe.
- The AGCO intends to publish the results of the lottery, to be held on January 11, 2019, on its website within 24 hours of the lottery selection.
- To participate in the lottery, potential applicants are required to pay a non-refundable Expression of Interest Fee of $75 when submitting their Expression of Interest Application.
- Within five (5) business days of AGCO publishing the lottery results on the AGCO website, the 25 selected Expression of Interest Applicants will need to:
- Submit a Retail Operator Licence Application including a non-refundable $6,000 fee payment
- Provide a $50,000 Letter of Credit (form can be found here)
- Each Region category will have a Selected List and a Wait List. The number of available store opportunities on the Selected List will be equal to the maximum number of Retail Store Authorizations allocated to that Region.
- Once the Selected List for a Region is full, the Wait List will be comprised of other first drawn Expressions of Interest entries identifying that Region.
- The first drawn Expression of Interest entry for an Applicant will be placed on the Selected List for the identified Region, or appended to the Wait List in the order drawn, if the Selected List is complete.
- If an Expression of Interest Applicant has submitted for more than one Region, their first drawn Expression of Interest entry will be placed in that identified Region category. Any remaining Expression of Interest entries from that Applicant will become ineligible, with one exception (see below).
- If an Applicant has submitted more than one Expression of Interest entry and the Applicant’s first drawn Expression of Interest entry is placed on a Wait List for a Region and another Expression of Interest entry for the Applicant is subsequently drawn that identifies a Region that has available store opportunities on its Selected List, then the Applicant’s subsequently drawn Expression of Interest will be placed on that Selected List. The Applicant’s first drawn Expression of Interest will be ineligible and removed from the Wait List.
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