On Monday, the Ontario government announced it has approved a pool shot license for a new company that hopes to make it easier for people to use the state-of-the-art technology.
The license allows the company to create pools of money and then distribute them as a payment to anyone who wants them.
The licenses are not issued to people who have not been licensed by the government.
The pool shot company, Poolshot, was founded in Toronto in 2017 by entrepreneur and former Toronto mayor Mike Harris.
It has raised $1.4 million from the government of Ontario, and is seeking to raise another $300,000 to expand.
“We’re in a new era in which pools can now be shared and distributed as a way of providing value to people,” said Harris in a news release.
The government’s approval of the licenses comes after several years of negotiations with Poolshot.
Harris, who grew up in Toronto and attended Queen’s University, has been using the technology to create businesses since 2011.
“Poolshot was built on a promise from the province,” Harris said in a statement.
“In the coming months, we will be working with Ontario’s Minister of Innovation, Science and Economic Development to establish a new pool shot licensing program.
We are committed to working with the government and working with our partners in Ontario to make pool shots a reality for all Ontarians.”
A spokesman for the ministry said that the pool shot program will provide incentives to help people get licensed.
He added that the pools could be used by businesses to make loans to people.
Harris said that he will have more information on pool shot licenses in the coming weeks.
Poolshots has raised a total of $3.5 million for its first three months of operations.
Harris has said that Poolshot will expand to other provinces, but that he does not expect it to be available in Ontario until 2019.
The news of Poolshot’s license is a welcome development for the pool shooting industry, which has struggled to compete with other innovative online services such as Snapshot and Poolbuzz.