NEW JERSEY – About one month after recreational cannabis was legalized in New Jersey, regulators are moving to issue more permits to dispensaries due to the massive spike in sales.
According to the New Jersey Monitor, consumers purchased around $24 million in recreational cannabis since it became legal on April 21st. Due to the early success of the first 12 medical-only dispensaries approved for recoretational sales, the Cannabis Regulatory Committee approved five more locations in a meeting this Tuesday.
The new locations include Garden State Dispensaries in Woodbridge, Union, and Eatontown; The Apothecarium in Lodi; and Ascend in Montclair.
Jeff Brown, Executive Director of the Cannabis Regulatory Commission, is ecstatic about the possibility of more dispensaries opening to recreational customers.
“It’s really only a beginning, and I think it shows that there’s a lot of growth left in this market,” said Brown.
In addition to the newly-approved dispensaries, 22 conditional licenses were issued to cultivators, 13 to manufacturers, and 11 to recreational retailers. However, there is no timeline on when recreational retailers are able to open.
The Cannabis Regulatory Commission is set to meet again on June 23rd.
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