The move is a result of “marginal improvements in the national supply”
Ontario’s government announced plans on Wednesday to issue 50 new cannabis retail licenses, which would more than triple the total number of privately owned brick-and-mortar cannabis stores in Canada’s most populous province.
The move comes as a result of “marginal improvements in the national supply” of cannabis, Ontario’s Minister of Finance Rod Phillips said in a press release. The new stores are expected to open by October 2019.
Canada became the first developed country to legalize cannabis last year but sales and tax revenues have been pressured by supply constraints and prices that are higher than those on the black market.
Ontario’s new government had initially intended to open government-run cannabis stores, similar to how liquor is sold in the province, but changed its mind just a few months before legalization came into effect and instead allowed privately owned businesses.
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