New York regulators have extended the timeline for provisional Conditional Adult Use Retail Dispensary (CAURD) licensees to open their recreational marijuana stores.
The state’s Cannabis Control Board on Tuesday approved a six-month extension for social equity retailers who were issued provisional licenses before Aug. 7, 2023.
The extension was recommended by the Office of Cannabis Management (OCM) to address capital-infusion delays from New York’s Social Equity Fund, ongoing litigation and the recent policy change allowing CAURD holders to relocate, the regulatory agency said on X, formerly Twitter.
The first cohort of provisional licenses are set to expire at the end of November, the OCM said.
Under the new policy, CAURD provisional license holders will have 30 months from the date of approval to launch their businesses.
Nearly two years after New York launched adult-use sales, only 234 licensed retailers are operational statewide, well short of industry expectations.
