Western provinces have recently begun accepting cannabis retail license applications from proponents interested in operating cannabis stores. Quintet Ventures is taking advantage of this opportunity to expand the reach of our cannabis retail store network.
Most recently, we applied for five separate retail licenses in Saskatchewan. The provincial government will be determining successful applicants by means of a lottery; confident in our proposals, we eagerly await the results of the government-administered lottery later this month.
In Alberta, we are acquiring a real estate portfolio to be used for operating cannabis retail stores in the province. Once our search for real estate properties is finalized, we will proceed with cannabis retail license applications for each respective location, with the goal of operating another five cannabis retail stores in Alberta.
The province of British Columbia recently announced the specifics of their licensing framework, and we are consulting with each municipality in which we currently operate our The Herbal Health Centre store locations. We expect the licensing process to be officially announced this spring.
Unfortunately, we did not receive a cannabis retail license in Manitoba. Despite our strong proposal, there were over 135 applications and only four licenses issued.
We are committed to growing our national cannabis retail store network and look forward to sharing the news with you as we acquire new licenses throughout Western Canada.