Toronto cannabis store permanently closing could be a sign of things to come

One of the Toronto locations of a small group of cannabis stores has permanently closed, and it may be a sign more are facing the same fate as the city reaches a saturation point.

Acc0rding to the latest stats, Toronto now has more than 200 cannabis stores. About a dozen have opened every month since the start of last year.

Whereas before cannabis was legalized pot stores were not a common part of the landscape, now you can barely walk a block in Toronto without running into a handful of them.

It's gotten so saturated, independently-owned weed shops are now actively trying to be acquired by the major chains. 

Others have started to close under-performing locations.

The House of Cannabis at 244 King St. E. might have been one of them, as the location is now permanently closed according to a note in the window.

"Due to the dynamic and changing environment, it is with heavy hearts that we are closing this location," reads the note.

House of Cannabis was located just steps away from another weed shop, Tokyo Smoke at 250 King St. E.

The brand has another location in Toronto in Chinatown, as well as locations in Barrie, Kingston, Kitchener and Keswick.

There's been an application to develop a 40-storey mixed-use building with ground level retail in the area where the store was.