Coverage of Delaware, Maryland, New Jersey, New York, and Pennsylvania.
Since New Jersey’s cannabis industry is not vertically integrated, applicants looking to break into the market will have to decide if they want to pursue growing and processing or distribution, delivery, and wholesale.
The fund will be supported by up to $50 million in licensing fees and revenue from the adult-use cannabis industry and up to $150 million from the private sector.
The Board also announced that NBA All-Star Chris Webber will manage the Social Equity Cannabis Investment Fund, which will help those who have conditional adult-use retail licenses meet the costs of establishing dispensaries.
In an interview with Sen. Street last week, he told us the possibility adult use would be legalized by 2024 was, “Very high. Likely.”
Industry experts like CannaBizIL executive director Pamela Althoff says May’s slight sales decrease isn’t a sign of bad things to come, but likely because workers returning to the office are consuming less cannabis than they would in the privacy of their own homes.
The recall impacted about 330,000 units of product valued at about $18 million, according to testimony from the lawsuit.
To better understand what happened, Grown In caught up with activist Zoë Patchell, now that she’s had a few weeks to digest the dramatic letdown.
Among other changes, the House Health Committee amended it to lower the purchasing age from 21 to 18 years old.
Just a couple months ago New York was trumpeting plans to give average farmers an opportunity to jump start the state’s cannabis industry. But today, cannabis farmers tell Grown In they are afraid to provide their names for on-the-record comments.
“I don’t think anyone is aware that there are these extensions, everyone is under the impression that we’re locked into this contract long term.”
