New York State opens up cannabis license process

The New York State Cannabis Control Board on Tuesday voted to open up the application process starting next month for businesses seeking to sell, grow, process and distribute marijuana for adult use. Companies with an existing presence in the state’s medical program include Curaleaf Holdings
CURLF,
-3.63%,
RIV Capital Inc.
RIV,
,
a unit of Scotts Miracle-Gro Co.
SMG,

that owns Etain dispensaries; Acreage Holdings Inc.
ACRHF,
-15.35%,
Green Thumb Industries
GTBIF,
-6.99%
and PharmaCann. Although adult-use cannabis has been legal since 2021 in New York State, only social equity applicants have received licenses thus far. The state said that starting Oct. 4, applications will be available through the New York Business Express Platform. “Today marks a pivotal step toward expanding and sustaining the state’s medical program and creation of an economically viable and equitable adult-use cannabis industry in New York,” said the New York Medical Cannabis Industry Association. Last week, chief executives from Curaleaf, Acreage, PharmaCann and Green Thumb Industries penned a letter to New York State Gov. Kathy Hochul saying they’ve waited long enough to get adult-use licenses after working on the state’s medical pot program for years.