New Jersey – Cannabis Business Times Report: 5 Cannabis MSOs Fined 0K in New Jersey; 2 Companies Respond
CBT report.. In February, New Jersey cannabis regulators delayed rolling out adult-use cannabis sales on the premise that existing medical retailers did not have the capacity to serve both customer types at that time. Two months later, when the state’s Cannabis Regulatory Commission (CRC) approved seven of New Jersey’s 11 medical cannabis operators to expand their operations to serve the broader adult-use market during an April 11 public meeting, state officials expressed confidence in those companies to continue prioritizing the needs of medical patients. At the time, there were 120,000-plus registered patients with 17 qualifying conditions, according to CRC. And when those seven companies officially opened their doors to adult customers at 12 of the state’s 24 retail locations on April 21—making New Jersey the 14th state to launch commercial adult-use sales—it was a day of celebration in the Garden State. It also was a day that some of the largest cannabis operators in the U.S. vowed that patient care under New Jersey’s medical program would remain a top priority. What about the long lines associated with an adult-use program launch? Two patient-only hours per day was the answer (often, the first hour and last hour of operation are reserved for medical patients at a dispensary). But five of the seven companies to launch adult-use retail operations on April 21 were later fined a combined $360,000 by the CRC for allegedly not honoring those medical-only hours: Verano Holdings ($90,000), Green Thumb Industries ($80,000), Ascend Wellness Holdings ($80,000), Acreage Holdings ($60,000) and Curaleaf ($50,000), as reported by Bloomberg. The fines came at a rate of $10,000 per day for each day the alleged violations occurred from April 21 to April 29, the news outlet reported. The other two companies participating on launch day, Columbia Care and TerrAscend, were not cited. In a prepared statement to Cannabis…
Excerpt only …
READ MORE BELOW
Source : New Jersey – Cannabis Business Times Report: 5 Cannabis MSOs Fined 0K in New Jersey; 2 Companies Respond
reposted by Cannabis News World
You must log in to post a comment.