US (NJ): Late license approval sets NJ on smoother path to adult cannabis

A special session called by New Jersey state regulators last week resulted in a slew of license approvals that will kick-start New Jersey’s recreational marijuana market and clear away a logjam of applications that have been lingering since voters approved adult recreational use nearly two years ago.

Responding to scrutiny from the president of the state senate, New Jersey’s Cannabis Regulatory Commission (CRC) hastily convened a meeting where they granted the necessary licenses allowing seven current medicinal marijuana operations, known as alternative treatment centers (ATC), to expand into the adult-use market later this year. The agency also approved another 34 conditional license applications for individual cultivators and manufacturers.

“We are getting closer to the opening of the market,” said CRC Executive Director Jeff Brown. “We are approving applications for new applicants and have now made way for the ATCs to expand.”

The CRC issued the approvals Monday with the state legislature looking over its shoulder after New Jersey missed the planned start date for recreational sales due to a lack of cannabis supply while appeals by some prospective cultivators work their way through the court system.

Read more at financialregnews.com


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