The Daily Hit is a recap of cannabis business news for Nov. 21, 2022.
ON THE SITE
New York Awards Adult-Use Retail Licenses, But Heaps of Questions Remain
The New York Cannabis Control Board on Monday awarded its first round of adult-use cannabis permits, along with 282 pages of new industry rules and some significant policy updates. But a small mountain of questions remains for stakeholders, leaving the market’s near future still shrouded in uncertainty for many. Read more here.
Nonprofits Among the First Licensees for New York Adult-Use Cannabis Market
More than 900 applicants submitted the paperwork for the New York CAURD licenses, which was far less than the OCM had hoped for. At least three New York City-based nonprofits Housing Works, The Doe Fund, and LIFE Camp confirmed they had been chosen. Read more about these organizations here.
Cannabis Retail Expects Solid Boost from Green Wednesday
Summer often gets the credit as the prime season for cannabis sales, but the back end of the year is no slouch. Several dispensary brands told Green Market Report that business typically jumps anywhere from 10% to 30% between the week before Thanksgiving and the start of the new year. Read more here.
Chicago Dispensary Gets Zoning Approval for Former Rainforest Cafe Site
The Rainforest Cafe application has been controversial because the site at 605 N. Clark St. is within 1,500 feet of other pot shops. State law prohibits dispensaries owned by existing companies that received licenses under the original medical-marijuana law from locating within 1,500 feet of each other. New licensees under “social equity” guidelines aimed at diversifying ownership of marijuana businesses have an exemption from the requirement. Read more here.
Video: MJBizCon 2022
Green Market Report attended the recent MJ Biz Conference in Las Vegas last week. Here’s a little bit of the event in case you weren’t able to attend. This year’s conference was the first to be hosted under the new owners Emerald Co. Check out our highlight reel here.
IN OTHER NEWS
Until fairly recently, Danksgiving wasn’t much more than a funny word that cannabis fans used for smoking weed on Thanksgiving. It’s easy to see how the portmanteau came about: “dank,” a slang term for high-quality weed, fits into the name of a holiday that appeals to the appetite – whether one is high or not. Read more here.
Kaya Shack, a vertically integrated cannabis operator in Oregon, will sell its Salem dispensary by Feb. 1, 2023, as part of a sale-surrender settlement for two violations stemming from 2019, according to the Oregon Liquor and Cannabis Commission. Read more here.
Trulieve Cannabis Corp.
Florida-based Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) announced the grand opening of two new medical cannabis dispensaries in: