New Jersey Exceeds Slated Cannabis Licenses to Minority- or Women-Owned Companies

The New Jersey Cannabis Regulatory Commission last week licensed 14 new minority- or women-owned medical cannabis businesses. The licenses were part of a 2019 application round that was delayed by a lawsuit.

Full story after the jump.

The New Jersey Cannabis Regulatory Commission last week licensed 14 new medical cannabis businesses after a lawsuit brought the process to a standstill for more than two years, ROI-NJ reports. The licenses were part of a 2019 application round, which included about 200 applicants.

All of the businesses approved last week are certified minority- or women-owned and 10 of the awarded licenses were for cultivation twice what was originally planned by the commission. The increase is likely due to the passage of adult-use cannabis laws in the state and the need to increase cultivation capacity for eventual retail sales.

New Jersey CannaBusiness Association President Edmund DeVeaux told ROI-NJ that the action moves the state “one step closer to issuing applications for the first round of adult-use licenses.”

“This is an exciting day, both for the awardees and for progress in the cannabis space. …  Like many, we await that day with eager anticipation and look forward to helping future adult-use license holders as well.” DeVeaux to ROI-NJ

The 10 growers approved by the commission, include Bloom Medicinals of PA; CYOURNJ; Garden State Releaf; Green Medicine NJ; GSCC Management; Hillview Med; the NAR Group; NJ Nectar Ventures; Noble Valley Harvest Co.; and ZY Labs.

The remaining four companies Altus New Jersey, Etain NJ, Greenhouse Wellness of NJ, and Holistic NJ were awarded licenses allowing them to cultivate, manufacture, and dispense medical cannabis.

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