New York regulators have extended the application window two weeks for hundreds of marijuana business licenses.
The state’s Cannabis Control Board at a meeting Tuesday pushed the deadline to apply for non-provisional retail and microbusiness licenses to Nov. 17, the Office of Cannabis Management (OCM) announced on Twitter.
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The deadline for all other licenses, including cultivation and processing, was extended until Dec. 18.
While the extension will benefit countless operators, the added time also presents new financial challenges for cash-strapped entrepreneurs, according to cannabis attorney Lauren Rudick.
“More time will hopefully inspire a diverse slate of applicants and reduce barriers to entry, but for those applicants who are already carrying real estate or otherwise burning cash, further delays are troubling,” the founder of New York-based Rudick Law Group told MJBizDaily via email.
This licensing process will prioritize social and economic equity (SEE) applicants, which include those
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