New Jersey Approves 7 Medical Cannabis Dispensaries to Serve Adult-Use Market

New Jersey Approves 7 Medical Cannabis Dispensaries to Serve Adult-Use Market
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<![CDATA[The New Jersey Cannabis Regulatory Commission (CRC) at its April 11 meeting approved seven medical cannabis dispensaries that can now serve the state’s long-awaited adult-use market.With regulators giving this handful of retailers the green light, commercial adult-use sales are expected to launch soon, perhaps by the end of the month, according to an NJ.com report.“This is good news,” John Fanburg, co-chair of the Cannabis Industry Law Practice at Roseland, N.J.-based Brach Eichler said in a public statement. “Cannabis prohibition is finally coming to an end. Currently, the black market controls 100 percent of adult recreational cannabis sales. This will bring the purchase and sale into the open, outside of the black market, in a safe and quality-controlled market. It’s not just about the tax revenue; it’s about social justice and safety.”The commission’s vote means that Acreage, Curaleaf, Columbia Care, Verano, Ascend Wellness, GTI and TerrAscend may all begin selling adult-use cannabis at their medical dispensary locations, formerly known as alternative treatment centers, the news outlet reported.“Over the last year we hit many milestones and all strengthened us to getting to this point,” CRC Executive Director Jeff Brown told NJ.com.The news comes after the CRC at its March 24 meeting postponed its approval of the medical cannabis dispensaries seeking to expand their operations to serve the broader adult-use market.RELATED: New Jersey Cannabis Regulatory Commission Approves Conditional Adult-Use Licenses, Delays Sales LaunchBrown said at the time that the decision to allow the medical dispensaries to expand was put on hold because commissioners wanted to see plans for how the retailers could accommodate both medical patients and adult-use customers at their locations.Brown also estimated last month that the medical cannabis retailers were short by 100,000 pounds of product to meet the demand of both the medical and adult-use markets.While regulators approved 68 conditional…

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Source : New Jersey Approves 7 Medical Cannabis Dispensaries to Serve Adult-Use Market

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