The NJ Cannabis Regulatory Commission (NJCRC) approved 56 adult-use cannabis licenses of different types. Of the 56 licenses awarded, 42 were conditional licenses, 6 were conditional to annual conversions, and 8 were annual licenses. This is a positive sign for NJ’s cannabis industry, and the approval of the annual licenses will hopefully result in a more competitive recreational cannabis market. Up until this point, all of NJ’s Dispensaries were owned by Multi-State Operators. With a new total of 50 annual licenses in NJ, hopefully, that metric is set to change in the New Year.
Conditional To Annual License Conversions
NJCRC Executive Director Jeff Brown explained that he hopes to see more conversion approvals in the future in regard to the small number approved in the January 12th meeting.
The 6 Licensees were:
- 2223 FullTilt Labs LLC – Cultivator – Micro
- 1946 Good Lettuce Company – Cultivator – Standard
- 2224 FullTilt Labs LLC – Manufacturer – Micro
- 1948 Good Lettuce Company – Manufacturer – Standard
- 2211 Leif Enterprises LLC – Manufacturer – Standard
- 2333 Happy Leaf LLC – Retailer – Micro
Annual License Awardees
The annual license application involves a combination of conditional and conversion applications. 8 licenses were approved in the January 12th meeting.
The 8 Licensees were:
- 1394 Legacy Cultivators LLC – Cultivator – Micro
- 1034 ElevenEleven Wellness, LLC – Cultivator – Standard
- 1102 ElevenEleven Wellness, LLC – Manufacturer – Standard
- 1963 Newton CB LLC – Retailer – Micro
- 1498 Earth & Ivy LLC – Retailer – Standard
- 1524 Jersey Girlz LLC – Retailer – Standard
- 2060 Leaf Relief NJ LLC – Retailer – Standard
- 1846 Union Chill Cannabis Company LLC – Retailer – Standard
The Rest of the Meeting
The rest of the meeting included name change, ownership change, and conditional licensee approvals. Along with this was a presentation about the demographics of approved applicants, where the board proudly boasted about its diverse approval pool. Still, there are many problems with the way NJ has approved applicants and the slow process of allowing small businesses to open in the state.
Here at Scarlet Reserve, we congratulate these awardees and hope to see more awardees, and better approval processes in the future from NJ.