On the morning of the Cannabis Control Board’s (CCB) June 23, 2022 meeting, the Office of Cannabis Management (OCM) uploaded the meeting agenda, which included this important tidbit: a resolution approving a conditional adult-use processor license and opening an application window for said license. This is obviously big news, in that it provides the link between the already issued conditional cannabis cultivation licenses and conditional retail dispensary licenses.
In introducing the conditional process license resolution, CCB Chairwoman Tremaine Wright dropped another huge piece of news: the OCM expects adult-use sales to begin through conditional retail dispensary licensees in the fall of 2022. Adult use cannabis sales taking place in just a few months seems exceedingly optimistic, given that: (i) no conditional retail dispensary licenses have been awarded, (ii) DASNY just announced a management team for the Social Equity Cannabis Investment Program (more on that later); (iii) design-build contractors who submitted bids based on the conditional retail dispensary RFP have not been selected; (iv) the conditional retail dispensary locations have not yet been lease (as per CCB member Adam Perry during the meeting); and (v) retail store buildouts typically take more than a few weeks (especially in New York City).
With that said, more