Cannabis retail plans proceeding despite losing lottery, Toronto company says

A Toronto businessman whose company didn't win the lottery to apply to open a cannabis store in Ontario says his business plans have not changed despite the setback.

Jeremy Potvin, CEO and co-founder of Weedbox, which describes itself a millenial-focused cannabis retail company, said the lottery results were "frustrating for sure" but the company has two stores under construction in Toronto and plans to expand to B.C. and California.

"This is a minor inconvenience for us," Potvin told CBC Radio's Metro Morning on Monday.

"They have maybe a six-to-eight month head start.By the end of the year, you will see 150 stores.We're moving forward.We're coming."

Potvin, whose company runs an online cannabis accessoriesstore, said the lottery results were disappointing because two-thirds of the winners were sole proprietors withsome havingno background at all in the cannabis industry.

"For the first hour or so,yes, it was disappointing. We have a big team. We have been working toward this for two years," he said.

Being a sole proprietor means limited access to funding, he said.

"They have a lot to catch up on. There's a lot to consider."

Weedbox is not on the province's official wait list to apply but it plans to reapply whenever the province accepts the next batch of applications, which Potvin said he hopes will be a "merit-based" process as opposed to a lottery.

The company is also open to business talks withpeople who did win the lottery.

"We are preparing for the next wave," he said in a later interview with CBC Toronto.

Winners have until Friday to submit store application

On Friday, the Ontario government announced the first 25 companies that can apply for cannabis retail licences in the province. The Alcohol and Gaming Commission of Ontario has published a full list.

Those selected have until Jan. 18 at 5 p.m. to turn in their applications along with a $6,000 non-refundable fee and a $50,000 letter of credit.

The licences were divided regionally, with five going to the east of the province, seven in the west, two in the north, six in the Greater Toronto Area and five in Toronto itself.

Winners in the Toronto region were listed as: Heather Conlon; SeyedarashSeyedameri; Colin Campbell; Dana Michele Kendal; and HunnyGawri.

Recreational cannabis can currently only be purchased legally in Ontario through a government-run website, with the first private stores set to open April 1.

Attorney General Caroline Mulroney has said the province will lift the cap on the number of stores in the province once the federal government addresses supply issues.

Brampton man'very happy' to be winner

Brampton businessman Clint Seukeran, owner of CGS Foods Inc, a coconut water importing company, was one of the winners but admitted on Monday in an interview with Metro Morning that he has no experiencein the cannabis industry.

"I was very happy to be selected as one of the successful applicants to be part ofthis new movement in Ontario," he said on Monday.

"My lack of experience doesn't really preclude me from being successful in the cannabis industry. I have a background in food science."

Seukeran, who has an MBA from the University of Guelph,said he is interested in cannabis because he sees it as an extension of his interest in the health food industry. He said he doesn't just want to be a "capitalist" but is interested in doing good work and creating "something beautiful and fantastic for Ontario."

He acknowledged a number of "pioneers" paved the way for the lottery and thata number of requirements have to be met by Friday.

"The hill is quite steep, absolutely.I am very well preparedto accept that challenge. We are going to embark on it and take our best shot at it."

Here's the full list of thosewho won acannabis retaillicence in the AGCO lottery:

East region

• DanielTelio
• Brandon Long
• Patterson andLavoie
• Pure Alpha Holdings
• KaranSomeshwar

GTA region

• GuruveerSinghSangha
• David Nguyen
• TripsetterInc.
• Alexander Altman
• CGS Foods Inc.
• GaryHatt

North region

• AntonLucic
• SaturninusPartners

Toronto region:

• Heather Conlon
• Seyedarash Seyedameri
• Colin Campbell
• Dana Michele Kendal
• Hunny Gawri

West region

• Steven Fry
• Lisa ABigioni
• RanjitBasra
• 2674253 Ontario Inc.
• SantinoJCoppolino
• ChristopherComrie
• The Niagara Herbalist