YSS (TSXV:YSS) has provided a strategic and operational update and to announce that YSS Grande Prairie has passed the final Alberta Gaming, Liquor and Cannabis Commission inspection.
As quoted in the press release:
YSS currently has 16 operating stores in Alberta and Saskatchewan that will grow to 17 upon opening of YSS Grande Prairie, expected in early February.
Strategic and Operational Update
On December 12, 2019, the Government of Ontario released a framework that will, over time, transition cannabis retail in the province from the current lottery-based system to an open market with an expected approximately 20 new Retail Store Authorizations per month initially, starting in April of 2020 (the “Ontario Framework“). With a population of over 14 million, Ontario offers the greatest growth potential in Canada.
YSS has applied for its Retail Operator License with the Alcohol and Gaming Commission of Ontario (“AGCO“) which opened for applications on January 6, 2020 and the Company is actively advancing expansion plans into Ontario. To open a store, operators must also obtain a store-specific AGCO Retail Store Authorization, applications for which will open on March 2, 2020, with approximately 20 per month expected to be released commencing in April of 2020.