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US: First Recreational Cannabis Stores In Massachusetts To Open Tuesday

Alex Oleinic

Benzinga

Monday 19 Nov 2018

The cannabis industry in Massachusetts is taking a big step Tuesday with the opening of the first two adult-use dispensaries two years after legalization and more than a month after the Cannabis Control Commission voted on the matter and issued four licenses.

What Happened

The Cannabis Control Commission announced Friday that two stores, New England Treatment Access in Northampton and Cultivate Holdings in Leicester, would be allowed to open in three calendar days. The three-day period is required for cannabis stores to coordinate with local officials and law enforcement. The stores are expected to open at 8 a.m. Tuesday.

Why It's Important

Massachusetts voted to legalize recreational weed in 2016, with 1.8 million voters supporting the move. Yet it took almost two years for the Cannabis Control Commission to develop the regulatory framework and issue licenses. Overall, the CCC issued 38 provisional licenses for cultivation, processing and retail, but only two companies received final licenses. Three of them are held by Cultivate Holdings and include cultivation and processing in addition to retail.

What's Next

In addition to the hurdles to opening a recreational cannabis store, there are other restrictions on cannabis consumption in Massachusetts.

Recreational weed is available to people over 21, and one person cannot purchase more than 1 ounce of flower or 5 grams of concentrate. For edibles, a single serving cannot contain more than 5 milligrams of THC, and packages should have up to 20 individual servings.

The Marijuana Business Factbook 2018 had estimated that recreational pot sales in Massachusetts could land between $150 million and $250 million if they commenced July 1, but the delay of more than four months will result in a lower figure for the year.

https://www.benzinga.com/markets/cannabis/18/11/12723692/first-recreational-cannabis-stores-in-massachusetts-to-open-tuesday

 

 

 

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