Cannabis Licensing Chaos In Alabama Heats Up As Medical Marijuana Giant Takes Weed Regulators To Court
Portfolio Pulse from Jelena Martinovic
Verano Holdings Corp. (CSE:VRNO) (OTCQX:VRNOF) has sued the Alabama Medical Cannabis Commission (AMCC) over the revocation and re-awarding of its Integrated Facility License. Verano initially secured the license in June but lost it in August when the AMCC chose Insa Alabama LLC instead. Verano argues that the commission's actions exceed its statutory authority. The AMCC plans to redo its licensing process again on Aug. 31.
August 23, 2023 | 12:07 pm
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Verano Holdings' lawsuit against the AMCC could potentially disrupt its operations in Alabama, impacting its revenues and growth prospects in the state.
Verano Holdings' lawsuit against the AMCC is directly related to its business operations in Alabama. If the lawsuit is not resolved in Verano's favor, it could lose its license to operate in the state, which would negatively impact its revenues and growth prospects.
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