Twelve more potential cannabis businesses are moving forward in the licensing process after receiving social equity status from the state.
The Social Equity Council (SEC) held a special meeting Friday morning to hear about more applications reviewed by accounting firm CohnReznick, the third-party company picked by the state to analyze paperwork and decide whether or not an applicant meets social equity status, as defined by state law.
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Here are the license types the Social Equity Council acted on Friday morning:
- Four delivery service companies were approved for social equity status, one was denied
- Three equity joint ventures won approval while one was denied
- The only hybrid retailer application reviewed was denied
- Two micro-cultivators were approved
- Two product packagers were granted social equity status, while one was denied
- One retailer was approved
The next step in the process for companies that have been granted social equity status, is getting a provisional license from the Department of Consumer Protection. After that, a company has 18 months to get their business up and running before a final license is issued.
Prior to Friday’s approvals, social equity status was granted to five dispensaries and 16 cultivators in July.Â
Lottery applicants denied social equity status can either appeal the decision in superior court or automatically enter the general lottery, which will be conducted after social equity applications are approved.
