US: Texas announces company's granted conditional license approval

The Texas Department of Public Safety (DPS) has commenced Phase I of the Texas Compassionate Use Program (TCUP) expansion selection process, and nine new businesses have been identified to proceed for an additional due diligence evaluation.

The following organizations will be conditionally awarded TCUP licenses, subject to additional due diligence evaluations such as disciplinary actions, financial suitability, litigation history, and any other information as required by the Department following Phase I of the selection process: Verano Texas, Trulieve TX, Texas Patient Access, Lonestar Compassionate Care Group, Lone Star Bioscience, PharmaCann, Texa OP, Story of Texas, and Dilatso.

Conditional licenses do not grant the applicant permission to cultivate, manufacture, distribute, or sell cannabis products until final approval by the Department. As a holder of a conditional license, the licensee is subject to the Department's ongoing due diligence evaluation. Each conditional licensee is expected to fully comply with all statutory and regulatory requirements applicable to the medicinal license issued under TCUP.

DPS will be requesting additional information from these businesses and will not be invoicing any dispensing organization license fees until the additional due diligence evaluations are completed and passed. The announcement of these nine businesses today does not guarantee that these businesses will be issued final TCUP licenses to operate as dispensing organizations.

"We are excited to be selected for a coveted Texas Dispensing Organization license and we look forward to working with regulators as we complete the licensing process," said Kim Rivers, CEO of Trulieve. "Pending necessary approvals, we plan to provide patients compassionate care and expanded access to high quality medical cannabis products."

"We are thrilled to receive a conditional Dispensing Organization License by the Texas Department of Public Safety, putting Verano one step closer to cultivating, processing and dispensing our extensive variety of high-quality medical cannabis products for Texas patients," said George Archos, Verano founder and Chief Executive Officer.