Alabama's Medical Marijuana Licenses On Hold Again, Now What?
Portfolio Pulse from Jelena Martinovic
The Alabama Cannabis Industry Association (AMCC) has voted to maintain a pause on issuing business licenses for medical cannabis, amid legal challenges from numerous companies. This includes Verano Holdings Corp. (CSE:VRNO) (OTCQX:VRNOF), which had secured a highly sought-after Integrated Facility License in June, but lost its chance to get a share of the state market when the license allocation was redone in August.
September 01, 2023 | 4:49 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Verano Holdings Corp. is directly impacted by the pause on issuing business cannabis licenses in Alabama. The company had secured a license in June but lost it in the August redo.
Verano Holdings had secured a highly sought-after Integrated Facility License in Alabama, which would have allowed it to get a share of the state market. However, the company lost this opportunity when the license allocation was redone in August. This directly impacts the company's potential revenues and growth in the Alabama market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80