On the morning of the Hashish Management Board’s (CCB) June 23, 2022 meeting, the Workplace of Hashish Administration (OCM) uploaded the assembly agenda, which included this vital tidbit: a decision approving a conditional adult-use processor license and opening an utility window for stated license. That is clearly large information, in that it gives the hyperlink between the already issued conditional hashish cultivation licenses and conditional retail dispensary licenses.
In introducing the conditional course of license decision, CCB Chairwoman Tremaine Wright dropped one other big piece of reports: the OCM expects adult-use gross sales to start via conditional retail dispensary licensees within the fall of 2022. Grownup use hashish gross sales going down in just some months appears exceedingly optimistic, on condition that: (i) no conditional retail dispensary licenses have been awarded, (ii) DASNY just announced a administration workforce for the Social Fairness Hashish Funding Program (extra on that later); (iii) design-build contractors who submitted bids primarily based on the conditional retail dispensary RFP haven’t been chosen; (iv) the conditional retail dispensary areas haven’t but been lease (as per CCB member Adam Perry in the course of the assembly); and (v) retail retailer buildouts usually take quite a lot of weeks (particularly in New York Metropolis).
With that stated, extra licenses being issued is a superb factor and retains the ball shifting. So with out additional ado, some information on:
The conditional grownup use processor license
- Primarily based on the laws signed by Governor Kathy Hochul in February 2022 that created the grownup use conditional cultivator license, the OCM is opening an utility window for grownup use conditional processor licenses.
- The appliance window ought to be from June 28, 2022 via August 31, 2022.
- Licenses can be restricted to present cannabinoid hemp processor licensees, who utilized for such licenses earlier than January 1, 2022.
- Licensees can have the conditional license for two years, however can have the chance to transition to a non-conditional license, with 2 necessities:
- Licensees should take part in a mentorship program for offering pathways for social fairness individuals; and
- Licensees should take part in an environmental sustainability program.
A couple of different vital bulletins in the course of the assembly:
- Following up on Governor Hochul’s announcement on June 22, 2022, the CCB seconded the reward for the minority-led funding workforce that was chosen to handle the $200m social fairness fund.
- The CCB authorized an extra 41 adult-use conditional cultivator licenses.
- The CCB affirmed Govt Director Chris Alexander’s suggestion of Damian Fagon for Chief Fairness Officer.
All in all it was one other productive assembly, but in addition one other assembly with none announcement relating to the timing for the discharge for unconditional adult-use hashish licenses. Keep tuned!