Garden State Releaf Archives - Green Market Report

Debra BorchardtDecember 9, 2021
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6min8920

The New Jersey Cannabis Regulatory Commission has finally approved 14 of the 2019 medicinal cannabis business applications that had been previously held up due to a court-ordered stay of the review process. The commission said that ten applications for cultivation permits and four applications for vertically integrated permits were approved and can begin preparations to serve New Jersey’s medicinal cannabis patients. The group also said that because of increasing patient need, five more cultivation permits were awarded than had been planned in 2019. On December 15, the state will begin to accept applications for adult-use cannabis business licenses.

“The current alternative treatment centers have not kept pace with patient needs,” said CRC Chairwoman Dianna Houenou. “We constantly hear from patients that prices are too high and that there are too few dispensaries with too few product options. The situation has not changed with the legalization of recreational cannabis. Our priority is to our patients and increasing the planned number of medicinal cannabis operators in the market will greatly benefit them.”  Twelve alternative treatment centers and satellite locations across New Jersey currently serve 118,882 medicinal cannabis patients. 

Of the ten cultivator permits approved three are in North Jersey, five are in Central Jersey, and two are in South Jersey.  They could potentially add 235,000 sq. ft. of canopy to the market. The four vertically integrated awards (for businesses doing cultivation, manufacturing, and retail) could add another 120,000 sq. ft. of cannabis canopy and an additional four retail locations. 

Applicants approved for cultivation: 

  • Bloom Medicinals of PA 
  • CYOUR NJ 
  • Garden State Releaf 
  • GCSS 
  • Green Medicine 
  • Hillview Med 
  • The NAR Group 
  • NJ Nectar Ventures 
  • Noble Valley 
  • ZY Labs

Applicants approved for vertically integrated operations: 

  • Altus 
  • Etain 
  • Greenhouse Wellness 
  • Holistic

“We know how anticipated these final actions were and we are happy they are now completed,” said CRC executive director Jeff Brown. “The awardees can now continue with the process to establish their operations. This can only be a good thing for cannabis patients and New Jersey’s fledging cannabis industry.” 

“Over 117,000 patients are currently enrolled in New Jersey’s medical marijuana program, but the state only has 23 dispensaries open to provide this necessary medical aid to that population,” said Amy Peckam, CEO of Etain. “Approving additional cannabis growing, processing and dispensary licenses in the state will immensely help the program, providing patients with more variety and reducing their travel time to obtain their medicine. We cannot wait to bring our high-quality products and formulations to the patients and customers of New Jersey.”

Etain was one of the original five licensees in New York in 2015 and now has dispensaries in Yonkers, Kingston, Syracuse and a flagship in Midtown East in New York City. This approval will allow the company to open its first location outside of New York and expand the company’s presence in the tri-state area.

 


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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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