Here We Go Again: Alabama Cannabis Licensing Process Stalled As Awarding Process Faces Lawsuit
Portfolio Pulse from Jelena Martinovic
The medical cannabis licensing process in Alabama has been halted due to a temporary restraining order initiated by Montgomery Circuit Judge James Anderson. The order follows a lawsuit by Alabama medical cannabis businesses, including Alabama Always LLC, against the state regulator for a faulty licensing process. Verano Holdings Corp. (OTC:VRNOF), which initially secured a license in June, lost its chance to get a share of the state market in the second round of license issuing.
August 18, 2023 | 8:54 pm
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Verano Holdings Corp. lost its chance to get a share of the Alabama medical cannabis market due to the halted licensing process.
The halted licensing process in Alabama directly impacts Verano Holdings Corp. as it lost its chance to secure a license in the second round of issuing. This could potentially affect the company's expansion plans and revenues.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80