New York opens the doors for cannabis licence applications

Hello dear readers! There is exciting news from New York that should interest all cannabis enthusiasts and investors. Here is a summary of the latest developments:

A milestone for New York’s cannabis programme

The Cannabis Control Board of New York recently held a significant meeting in which several important decisions were made. These developments could be the starting signal for the state’s cannabis programme. While investors and MSOs (Multi-State Operators) are likely to be delighted, CAURD holders may be disappointed.

The most important developments at a glance:

• The revised regulations for the adult use of cannabis were adopted unanimously. This followed almost 4000 comments from almost 100 individuals and organisations.
• General licences will be available from 4 October. Applications for growers, processors, distributors, microbusinesses and retail pharmacies will be open from this date.
• There will also be forms that allow registered organisations to switch to the adult market.
• All applicants for an adult-use cannabis licence have the opportunity to apply for social and economic justice certification.
• A fee of $10,000 for medical operators and a registration fee of $200,000 are payable upon approval of the registration.

A word from the New York Medical Cannabis Industry Association (NYMCIA)

The NYMCIA emphasised that the approval of adult-use regulations shows a positive forward trend. They believe this will pave the way for an economically viable and equitable adult-use cannabis industry in New York.

Research licence for cannabis

In addition, it was unanimously decided to open a cannabis research licence application. This allows scientists and others to study real cannabis products.

Final thoughts

New York is taking big steps towards an open and regulated cannabis industry. With the new regulations and licences, the state is likely to be at the heart of the cannabis business in the coming months and years. Stay tuned for more updates!

Source: https://businessofcannabis.com/general-new-york-cannabis-licence-applications-to-open-october-04/