Alberta Expects 80 to 100 Cannabis Stores Licensed in a Month

(Bloomberg) -- Alberta expects to have 80 to 100 cannabis retail stores licensed over the next month, with 17 locations ready for the first day of legal sales on Wednesday.

The Canadian province is confident it will have adequate supplies ready for Wednesday, said Alain Maisonneuve, chief executive officer of Alberta Gaming, Liquor & Cannabis, the regulator overseeing recreational marijuana legalization. The AGLC has signed supply agreements with 15 producers to supply it with cannabis, which it will then provide to retailers and sell through the province’s online site. About 250 locations may be open in the first year of operation.

“We’re confident in Alberta that we’re ready for day one and for a time thereafter, based on the commitment that we have from many licensed producers,” Maisonneuve said at a news conference in Calgary.

Other highlights from the news conference and a statement issued by the province:

  • Government expects financial loss over first two years of legalization
  • “I don’t anticipate this being a profit center for the government of Alberta for a couple of years:” Finance Minister Joe Ceci
  • Provincial online sales site will be open after midnight on Oct. 17
  • Province is providing grants of C$11.2 million ($8.6 million) over two years for small municipalities to help with enforcement and implementation costs

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