New Jersey MMJ Business News
Labor unions organizing marijuana workers notched recent victories in three states, including with cultivators who don’t enjoy the same federal protections extended to cannabis retail workers.
New Jersey regulators approved the first 18 annual adult-use cannabis business licenses for the state’s marijuana market.
Workers at Curaleaf Holdings’ cannabis store in Edgewater, New Jersey, unionized with the United Food and Commercial Workers (UFCW) Local 360.
Multistate marijuana company TerrAscend Corp. has taken a senior secured term loan from cannabis real estate lender Pelorus Equity Group for gross proceeds of $45.5 million.
After 2021’s record-breaking year for mergers and acquisitions, many marijuana industry insiders predicted that 2022 would be an even more active year.
But so far, that’s not been the case.
Despite the promise of social equity leveling the playing field in the marijuana industry, most diversity applicants and license holders believe the cards are stacked against them.
From Los Angeles to Boston, common obstacles include limited access to capital, complicated application processes, real estate priced well above market rates and bureaucratic logjams.
New Jersey adult-use cannabis businesses recorded nearly $79.7 million in total sales between April 21 and June 30 of the state’s second fiscal quarter.
