Alberta regulators have reversed a moratorium on the issuance of new adult-use marijuana retail permits after seeing a “modest but steady” enchancment within the province’s cannabis stock over the previous two months.
The province stopped accepting new purposes for marijuana stores in late November after federally licensed cultivators delivered solely 20% of what Alberta had ordered.
The Alberta Gaming, Liquor & Cannabis (AGLC) – the provincial regulator – now plans to situation 5 new licenses on a weekly foundation whereas it screens provide.
The first 5 shall be handed out this week, AGLC spokeswoman Heather Holmen informed Marijuana Business Daily.
As of Wednesday, 473 purposes for new retailer places have been pending and one other 115 have been accepted however are awaiting licenses.
The five-weekly permits will come from the “approved” software queue. That means it’ll take about six months for the province to work via the 115 purposes earlier than it will get to the remaining 473 pending purposes.
“Those 115 applications will be awarded licenses – assuming nothing substantial has changed while they’ve been in the queue – over the next 23 weeks,” Holmen stated. “And as more applications reach the final approval stages, additional applicants will enter the approval queue.”
Alberta stays by far the chief in Canada with 104 adult-use cannabis stores.
Alberta’s adult-use cannabis gross sales reached 14.four million Canadian dollars ($10 million) in March, main all provinces. Quebec was second with CA$14.1 million.
Regulators in neighboring British Columbia proceed to wrestle to get a deal with on authorized marijuana. That province noticed solely CA$2.eight million in gross sales in March, lower than New Brunswick’s CA$2.9 million.
The AGLC has contracts with 26 federally licensed cultivators.
The company is liable for regulating cannabis distribution and retailers and in addition operates the province’s monopoly on-line cannabis retailer.
“Should the stability of inventory take a drastic downturn, AGLC will evaluate reinstating the moratorium,” the AGLC stated.