{"id":45030,"date":"2019-04-11T18:31:25","date_gmt":"2019-04-11T18:31:25","guid":{"rendered":"https:\/\/merryjane.com\/canada-is-penalizing-pot-shops-for-not-selling-weed-fast-enough\/"},"modified":"2019-04-11T18:31:25","modified_gmt":"2019-04-11T18:31:25","slug":"canada-is-penalizing-pot-shops-for-not-selling-weed-fast-enough","status":"publish","type":"post","link":"https:\/\/merryjane.com\/news\/canada-is-penalizing-pot-shops-for-not-selling-weed-fast-enough\/","title":{"rendered":"Canada Is Penalizing Pot Shops for Not Selling Weed Fast Enough"},"content":{"rendered":"<p>Ontario\u2019s weed regulators penalized 12 pot shops for not being open for business by April 1.<\/p>\n<p>According to a statement, Canada\u2019s Alcohol and Gaming Commission <a href=\"https:\/\/globalnews.ca\/news\/5153125\/dozen-cannabis-stores-penalized\/\" rel=\"nofollow noopener\" target=\"_blank\">reminded everyone that<\/a>, \u201cThis is not a fine, it was a condition of participating.\u201d<\/p>\n<p>Under the province\u2019s weed licensing rules, Ontario\u2019s retail marijuana stores had to be ready to sell cannabis on April 1. Only 10 businesses <a href=\"https:\/\/merryjane.com\/news\/ontario-finally-opens-its-first-pot-shops\" target=\"_blank\" rel=\"noopener\"><u>opened that day<\/u><\/a> out of the 25 that were expected to go live.<\/p>\n<p>The reasons for the opening delays varied according to the individual businesses. Some did not meet building codes, while others didn\u2019t have <a href=\"https:\/\/merryjane.com\/news\/canada-expected-to-face-cannabis-supply-shortage-after-legalization-debuts\" target=\"_blank\" rel=\"noopener\"><u>enough product<\/u><\/a> to stock their shelves.<\/p>\n<p>For shops that missed the deadline, the penalty included a $12,500 cut from the stores\u2019 \u201c$50,000 letter of credit,\u201d wrote <a href=\"https:\/\/globalnews.ca\/news\/5153125\/dozen-cannabis-stores-penalized\/\" rel=\"nofollow noopener\" target=\"_blank\"><em>Global News<\/em><\/a>. Failure to open by April 15 results in an <a href=\"https:\/\/www.cbc.ca\/news\/canada\/toronto\/ontario-pot-shops-penalized-1.5093295\" rel=\"nofollow noopener\" target=\"_blank\">additional loss<\/a> of $12,500. If the shops aren\u2019t slinging sativa by the end of April, they lose the entire letter of credit.<\/p>\n<p>A letter of credit is a bank-issued document that promises to pay a specific amount under specific conditions. For Ontario\u2019s weed retailers, the letter of credit promises to pay the provincial government if certain criteria aren\u2019t met, like opening for business on time.<\/p>\n<p>Prior to April 1, Ontario residents could only purchase cannabis online from the Ontario Cannabis Store, a government-run weed producer. In Canada, all licensed cannabis is cultivated at government facilities.<\/p>\n<p><em>Follow Randy Robinson on <\/em><a href=\"https:\/\/twitter.com\/randieseljay?lang=en\" rel=\"nofollow noopener\" target=\"_blank\"><u><em>Twitter<\/em><\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cThis is not a fine, it was a condition of participating.\u201d<\/p>\n","protected":false},"author":2,"featured_media":45031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3036],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canada Is Penalizing Pot Shops for Not Selling Weed Fast Enough - Merry Jane<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/merryjane.com\/news\/canada-is-penalizing-pot-shops-for-not-selling-weed-fast-enough\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canada Is Penalizing Pot Shops for Not Selling Weed Fast Enough - 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