Hopes Dashed For Weed Lounges In Nevada And Latest Cannabis Regs In IL, MT, MD
Portfolio Pulse from Jelena Martinovic
Nearly 2700 applicants are vying for 55 new cannabis shop licenses in Illinois, with only three out of 192 licensees commencing operations so far. Montana is planning to eradicate synthetic marijuana and intoxicating hemp products, citing health risks to children. In Maryland, restrictions are being imposed on where marijuana can be sold. Proposals for cannabis lounges in Washoe County, Nevada were rejected, affecting companies like Sol Cannabis, MM Development Company (Planet 13 Holdings Inc.), and Cheyenne Medical Sammy Davis (Thrive Cannabis Marketplace).
July 12, 2023 | 7:32 pm
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The rejection of cannabis lounges in Washoe County, Nevada, directly impacts Planet 13 Holdings Inc., which had been granted conditional licenses for such venues.
The rejection of the proposal for cannabis lounges in Washoe County, Nevada, means that Planet 13 Holdings Inc., which had been granted conditional licenses for such venues, will not be able to proceed with their plans. This could potentially affect their business strategy and revenue projections.
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