‘Out of time’: Alterna stops accepting Ontario cannabis retail lottery clients [Toronto Globe and Mail (Ontario, Canada)]
HENKEL AG & CO KGAA PFD (HENOY)
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Source: Toronto Globe and Mail
‘Out of time’: Alterna stops accepting Ontario cannabis retail lottery clients HIGHLIGHTS Alterna Savings, one of the few financial institutions willing to provide that letter, says it cannot take on any more customers after accepting nearly 1, “Well over 1” potential applicants “are currently frozen out of the process and ineligible” as a result of this issue, lawyer says With nearly a week left before Ontario begins accepting submissions for its second cannabis retail lottery, the window to enter might already be effectively closed. In order to qualify for the Aug. 2 draw, applicants must provide a letter from a bank proving they have at least $25, available to operate a potential store. However, most of Canada’s largest banks consider cannabis retail too risky to issue those letters themselves and, earlier this week, Alterna Savings – one of the few financial institutions willing to work with lottery applicants – said it could not take on any more lottery-related clients. “It is o
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