There are 14 New Medical Marijuana Licenses in NJ
After a long-awaited year, there are officially 14 new medical marijuana licenses in NJ. Almost two years ago, New Jersey began the licensing process with nearly 200 businesses applying for licenses to grow and sell medical marijuana. Due to a lawsuit, this process was brought to a standstill for more than a year.
The Cannabis Regulatory Commission announced that they would be granting 14 new licenses to New Jersey businesses.
10 New Licenses Set to Grow Marijuana
Among the 14 licenses, ten were granted the ability just to grow and cultivate marijuana. These ten licensees will add 235,000 square feet of space to grow medical marijuana in NJ.
These ten new licenses to grow marijuana went to the following businesses:
- Hillview Med INC.
- CYOURNJ LLC
- GSCC Management LLC
- NJ Nectar Ventures LLC
- Noble Valley Harvest Company
- Green Medicine NJ LLC
- ZY Labs LLC
- The NAR Group Inc.
- Bloom Medicinals of PA LLC
- Garden State Releaf LLC
4 New Licenses Set to Grow, Manufacture, and Dispense Marijuana
In addition to the ten businesses granted to grow marijuana, the Cannabis Regulatory Commission announced that they would be giving vertically integrated licenses to four additional companies. This type of license grants companies the ability to grow, manufacture, and dispense marijuana in NJ.
These four new licenses went to the following businesses:
- Etain New Jersey LLC
- Altus New Jersey LLC
- Holistic NJ LLC
- Greenhouse Wellness
What Happens Next?
While this is the most significant expansion of the marijuana market that NJ has seen, these are licenses for medical marijuana businesses only. Although NJ residents voted in favor of recreational use of marijuana for adults 21+, there is still no set date for licensing recreational companies to begin.
While these fourteen new licensed businesses could eventually sell marijuana to the public, they must first meet the demand for its medical users, pay fees to the state, and serve the medical market for at least one year.
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