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Alterna helps Ontario cannabis lottery retailers meet AGCO deadlines

For Immediate Release

January 15, 2019 – Alterna Savings and Credit Union Limited (Alterna) is helping the Ontario cannabis retail lottery winners meet an ambitious Alcohol and Gaming Commission of Ontario (AGCO) deadline of January 18th, 2019. The lottery selection was made on January 11th, but the winner's luck might “go to pot” if the challenging timelines are not met.

“The AGCO gave cannabis retail lottery winners five business days to complete and submit a detailed store application. Alterna anticipated tight timelines and with only a few days left to submit their applications – these retailers should reach out to us. We have a fast-track process, with dedicated people ready to help the winners complete their application requirements on time,” said Rob Paterson, President and Chief Executive Officer of Alterna Savings.

Alterna has been working with regulated medical marijuana producers for over three years. As one of Canada’s first financial institutions to support the cannabis industry, Alterna has been taking on cannabis business that other banks won’t. By continuing to meet the needs of cannabis producers through products and services tailored to their needs, Alterna is ready to do the same for retailers.

The grass is greener with Alterna. “We have the experience, and vision to help future cannabis retailers grow their business. They should reach out to our Contact Centre at 1-877-560-0100 as early as possible so that we can get them ready for the next lottery and future events,” Paterson says. “We know the industry inside-out, better than any of the other banks. Retailers can rest assured that we will treat them with the respect and consideration they deserve.”

About Alterna Savings and Credit Union Limited

Alterna Savings and Credit Union Limited (Alterna) has been the good in banking for the past 110 years! Together with our wholly-owned subsidiary, Alterna Bank, we have over $7.13 billion in assets under administration.

As the first full-service, member-owned co-operative financial institution outside Quebec, Alterna shares our expertise with more than 166,000 members through a network of 32 branches across Ontario, as well as our call centre and digital channels. Our members benefit from industry leading online brokerage and investment management services.

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Media Contact:
Jackie Duhard, Corporate Communications Specialist
Alterna Savings and Alterna Bank
P: 613.560.0150 ext. 6031

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