New York Could Reveal MMJ License Winners Soon

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The New York Health Department may announce winners of the five medical cannabis licenses up for grabs in the state as soon as Friday, according to a report in Fortune.

The move would give companies enough time to start their operations and begin growing medical cannabis so they can meet demand when sales start next year, Fortune reported.

Several of the 43 companies that applied for licenses appear ready to hit the ground running, as they are already ramping up so they can begin cultivating as soon as possible.

Case in point: Compassionate Care Center of New York has cemented partnerships with the Israeli company Tikun Olam and the Canadian firm MedReleaf, both of which are MMJ industry leaders in their respective countries.

If Compassion Care wins a license, Tikum Olam will provide medical research and data, while MedReleaf will manage production at its cultivation facility.

Another applicant, Empire State Compassionate Care, has assembled a high-profile management team, including a former homeland security official.

The five companies that receive licenses will grow cannabis, process it into infused products and set up dispensaries to distribute the medicine.