A ruling by a cannabis social equity oversight board in Connecticut has significantly altered the landscape for a group of adult-use applicants and license holders.
The Social Equity Council (SEC) approved the equity status of six applicants, revoked previous approvals of five applicants and denied another five applications, the Hartford Business Journal reported.
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The approvals, which essential greenlight operators for build-out plans, were all awarded to affiliates of Chicago-based multistate operator Verano Holdings, including:
Caring Nature EJV 1. Caring Nature EJV 2. CT Pharma Norwich. CT Pharma Newington. Willow Brook Stratford. Willow Brook Enfield.
Verano also operates the market’s largest cannabis grower and product manufacturer under its CT Pharma brand.
To qualify for an equity joint venture (EJV), a business must be least 50% owned and controlled by an individual or individuals who meet social equity criteria.
However, under new adopted guidelines last
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