Brad Molotsky – Cannabis Industry

The Duane Morris Cannabis Industry Group, the American Trade Association for Cannabis and Hemp and Centri Business Consulting present Mainstreaming Cannabis: Real Estate and Valuation on Thursday, April 25, 2024, from 12:00 p.m. to 1:00 p.m. Eastern.

As with any type of business, the cannabis industry faces real estate concerns ‒ but with particular lease-related issues unique to the field. Facilities for the cultivation, manufacturing and distribution of cannabis and cannabis products are important not only to cannabis operators, but also investors and landlords, all of whom face federal, state and local regulations that can vary by location. Our panel will discuss the interplay between state and federal laws as it relates to cannabis regulations and implications for real estate transactions. REGISTER FOR THE WEBINAR.

January 18, 2024January 23, 2024 by Brad A. Molotsky

NJ Cannabis Regulatory Commission Approves Regulations To Allow Cannabis Consumption Lounges

On Wednesday, January 18, 2024, the NJ Cannabis Regulatory Commission (the “CRC”) approved regulations to allow cannabis consumption lounges where consumers will be able to buy and use cannabis products on-site. Continue reading “NJ Cannabis Regulatory Commission Approves Regulations To Allow Cannabis Consumption Lounges”

December 19, 2022December 20, 2022 by Brad A. Molotsky

NJ Cannabis – 3Q 2022 Adult Use Sales Numbers Continue to Blaze

According to recent reporting from the NJ Cannabis Regulatory Commission (“NJCRC”), sales of legalized, recreational adult use cannabis in NJ exceeded $116.5 Million from July to September of 2022. This Q3 revenue figure represents a 46% increase from sales receipts in Q2 of 2022 of $80 Million generated from April to June 2022, when 13 state dispensaries expanded to adult cannabis sales for the first time.

By way of background, New Jersey legalized the sale of recreational marijuana for those 21 and over in April 2021. Sales were initially confined to 12 licensed dispensaries, which had approximately $24 Million in sales through May 2021, or an average of $5 Million per week in a state with 9.3 Million residents. By comparison, adult recreational cannabis generated approximately $80 Million in total sales between April and June 30 per the Cannabis Authority or $6.7M per week. Continue reading “NJ Cannabis – 3Q 2022 Adult Use Sales Numbers Continue to Blaze”

August 25, 2020 by Duane Morris

Governor Wolf Calls on PA Legislature to Pass a Recreational Cannabis Bill; $1B of CARES Relief

Earlier today, August 25, 2020, Gov. Tom Wolf called on the Pennsylvania legislature to legalize recreational marijuana and use the tax revenue to help small businesses that have been impacted by the COVID-19 pandemic.

According to the Philadelphia Business Journal, Gov. Wolf’s proposal on recreational marijuana was part of a package unveiled to spend the $1 billion remaining out of $3.6 billion CARES Act funding. The Governor called for a range of spending that would include$225 million in forgivable loans and grants to small businesses and another $100 million for restaurants and bars, hospitality and leisure businesses that have taken a big hit since March with business closures and occupancy restrictions. Tax revenue from the sale of recreational marijuana would add to the state’s small business funding and half would go to historically disadvantaged businesses.

To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Project Development/Infrastructure/P3 Blog.