The Los Angeles Social Equity Verification period came to an end at 4pm on Monday, July 25th. Recall that verification is required to enter into the Social Equity Retail Lottery this Winter. The verification period will be followed by a 90-day review period. Then, the Department of Cannabis Regulation (DCR) will notify qualified applicants of their eligibility to enter this cannabis licensing lottery.
For those that don’t qualify or fail to obtain verification, consider forging a partnership with a verified applicant who wins a lottery ticket. We won’t know who those folks are until after the lottery this winter. However, it makes sense to begin considering your options. Even if a verified applicant doesn’t win the Social Equity Retail Lottery, other licensing options are available. For example, cultivation and delivery licensing will only be open to verified social equity applicants until 2025.
Moreover, for those of you who are social equity applicants awaiting verification, knowledge will be your greatest tool in establishing successful, balanced, partnerships with investors or incubators. This blog has written extensively about the risks that present themselves with these kinds of partnerships, and more generally about cannabis partnerships. As a general rule, partnerships last longer and produce
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