Alabama's Third Attempt To Set Up Its Medical Cannabis Industry: 20 Licenses Granted For Now
Portfolio Pulse from Jelena Martinovic
Alabama's Medical Cannabis Commission granted 20 licenses for medical marijuana production and distribution, marking the third attempt to establish the industry after legal challenges. The November settlement resolved issues from previous attempts, leading to a new licensing process. Verano Holdings Corp. (OTCQX:VRNOF) was involved in the legal actions against the AMCC. Licenses were awarded for cultivators, processors, dispensaries, secure transporters, and testing labs. Integrated facility license applications are due this week, with awards expected on December 12.
December 04, 2023 | 3:11 pm
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Verano Holdings Corp. was involved in legal actions against Alabama's Medical Cannabis Commission, which have now been resolved. The company may benefit from the stabilization of the regulatory environment in Alabama.
Verano Holdings Corp.'s involvement in the legal proceedings that have now been resolved suggests a direct interest in the Alabama medical marijuana market. The resolution of these issues and the granting of new licenses could provide a more stable and predictable business environment, potentially benefiting VRNOF in the short term as the market develops.
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