More than 500 individuals and businesses have applied to sell medical cannabis in Missouri, the St. Louis Post-Dispatch reports. In all, the applicants want to open 175 cannabis businesses across the St. Louis metro area.
According to records obtained by the Post-Dispatch, a least nine out-of-state entities are seeking to enter Missouri’s market, applying for at least 25 licenses. Massachusetts-based Curaleaf is seeking eight shops throughout the state. Other applicants are from Kansas, Illinois, Pennsylvania, Arizona, and Tennessee.
According to the report, the industry is expected to be worth about $20 million per year and under the constitutional amendment approved by voters last year, the state must approve 60 commercial cultivators, 86 manufacturers, and 192 dispensaries.
Currently, just two firms are allowed to grow CBD-rich hemp products in the state – the Noah’s Arc Foundation and Beleaf Medical – and both have applied for a medical cannabis license. Other Missouri-based applicants include MoFarma 21, which is run by a retired cardiologist; Arnold Councilman Jason Fulbright; Green Care, run by an attorney; and Bradford Goette, a board member of the Missouri Medical Cannabis Trade Association.
State officials opened the application process for medical cannabis patients early but some in the space don’t expect products to be available to patients until mid-2020. The business pre-licensing application process began in January.
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