The Alberta Gaming and Liquor Commission (AGLC) has announced their intentions to issue more than 250 licenses to retail stores in Alberta, Canada. The AGLC has adopted the role of managing retail and online cannabis regulations and requirements in the Province.
Later this summer, Canada plans to legalize the sale of cannabis for medical and recreational purposes to adults, as well as, the country will allow the extraction of cannabinoids from industrial hemp. This has lead to Canadian public companies such as Canopy Growth Corp (TSX: WEED) and Aurora Cannabis (TSX: ACB) to attempt to consolidate through mergers and acquisitions in the sector.
Public companies in Canada seemingly have unlimited capital to operate with. Giving retail stores in Alberta the change to sell cannabis product to consenting adults allows smaller and family owned operations the opportunity to profit from the legal cannabis.
Strict guidelines and regulations have been set in place by the Alberta Gaming and Liquor Commission ahead of issuing retail stores licenses. Requirements include video surveillance, alarms, and the stores must be placed 100 meter away from any school or hospital.