Connecticut has made public the six cannabis retailers that have qualified for social equity status, who will be among the first to sell adult-use cannabis in Connecticut, provided they receive further approval and pay the necessary licensing fees.
The state Department of Consumer Protection also identified the two micro-cultivator applicants approved so far for equity status and the three Equity Joint Venture applicants that also received the green light from the state’s Social Equity Council to move forward in the licensing process. The council is charged with making sure that equity applicants for licenses meet income, residency, and ownership requirements.
As is the case with other approved applicants identified by the state thus far, the people behind these latest businesses include in-state and out-of-state residents, as well as equity applicants and wealthy backers. Connecticut’s adult-use cannabis law, passed in 2021, enables equity applicants to partner with financial backers if the business is at least 65 percent owned by an equity applicant.
The applicants and their backers are now undergoing background checks and further review by DCP. Once complete, qualifying applicants must pay fees to receive a provisional license. The fees range. For a social equity applicant seeking a provisional retail license, the fee is $2,500. Retail sales are expected to start in Connecticut at the end of the year.
To read the complete article, go to www.ctinsider.com