Cannabis Bulletin
June 2023
This bulletin is to remind cannabis representatives and retail cannabis licensees that certain actions may result in an automatic cancellation of your registration or licence(s).
Selling all or a portion of your business, incorporating or changing the registered company or adding new investors
As per Section 112 Gaming, Liquor, and Cannabis Regulation (GLCR), a registration is automatically cancelled on the sale of a business that results in a change in control in the ownership structure (owner, financial interest or share structure). Any proposed change must be reported to AGLC and must be approved prior to any sale taking place.1
As per Section 113 GLCR, a sale of a portion of a business that does not result in a change in control must be reported to AGLC and must be approved prior to the effective date of the sale.2
Send an email to duedilgence@aglc.ca prior to the sale, assignment, or transfer being completed. AGLC’s Due Diligence unit will request additional documents and advise how to proceed so that your registration is not in jeopardy.
Changing your company’s shareholders, directors/board members, officers or key employees
Shareholders, directors/board members, officers and key employees must undergo criminal and financial background checks. Send an email to duediligence@aglc.ca advising of the change that you want to make and the appropriate forms will be provided to you.
Footnotes
1 See Section 112 of the GLCR for more details.
2 See Section 113 of the GLCR for more details.
The GLCR can be found at: http://www.qp.alberta.ca/documents/Regs/1996_143.pdf.
3 A key employee is an individual who exercises influence or control over the day‐to‐day operations or decision making. This includes, but is not limited to, CEO, CFO, controller and senior compliance officer.