Cannabis Briefs for August 29, 2023

•Recreational cannabis sales rose in New Jersey during the second quarter, according to data from the state’s Cannabis Regulatory Commission. For the three months of April, May, and June, consumers spent $160.2 million on cannabis in the Garden State, up from $144.9 million sequentially and up from $79.7 million a year ago when recreational sales first launched. Medical sales contributed an additional $32.9 million for a total of $193.1 million, generating close to $10 million in tax revenue. Despite 80% of New Jersey’s municipalities banning cannabis sales within their boundaries, as of August 23 there were 68 dispensaries open to the general public.

•The judge overseeing the ongoing lawsuit in New York over the exclusion of service-disabled veterans from social equity applicant status and prioritization in the selection for cannabis business licenses cleared 23 retail locations to commence operations despite the general injunction in place freezing the approval process. After judge Kevin Bryant ruled that licensees who had met all approvals before August 7 would be allowed to open their doors, lawyers representing the state brought a list of 30 licensees who qualified; seven were not allowed to move forward over specific objections from the plaintiffs. Counsel representing the state Attorney General’s office said that the Cannabis Control Board will hold a meeting on September 12 to vote to approve general licensing regulations, at which point the plaintiffs’ objections will be moot. Accordingly, Judge Bryant scheduled the next hearing for September 15.

•Nevada’s Cannabis Compliance Board approved three more cannabis consumption lounge licenses. The beneficiaries were Deep Roots Harvest and Global Harmony, which both operate cannabis retail locations in Las Vegas, and KV Group, which has a store in the town of Pahrump. Seven cannabis lounges have been approved overall, including one for Planet 13, whose Las Vegas superstore concept has made it one of the biggest retailers in the state. Lounges were expected to be open in Nevada by now but administrative setbacks and fluctuating regulations have caused continued delays. Deep Roots Harvest expects its consumption space to open by the end of March next year.

Tagged : cannabis, Deep Roots Harvest, Global Harmony, KV Group

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