New Jersey Adult-Use Cannabis Licensing Advances As TerrAscend Faces Scrutiny

The New Jersey Cannabis Regulatory Commission (NJ-CRC) recently made significant strides in the state's cannabis industry by granting approvals for numerous licenses.

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New Jersey Approves 112 Adult-Use Cannabis Licenses, Expanding Market Activity

The NJ-CRC approved a total of 112 adult-use cannabis licenses, comprising 40 conditional licenses, 52 conversions to annual licenses, and 20 annual license applications, as reported by HEADYNJ.

NJ-CRC executive director Jeff Brown noted that although the commission currently has numerous applications in inactive status due to businesses not responding to the its staff, there is growing activity in the New Jersey adult-use and medical cannabis market, with 60 dispensaries now operational.

Additionally, New Jersey is witnessing the emergence of adult-use-only cultivators and manufacturing cannabis, diversifying production within the market.

See Also: NJ Court Sets Precedent: Employer Must Reimburse Worker For Medical Marijuana In Workers' Comp Case

On The Medical Cannabis Regulatory Side… NJ Regulators Addressing Compliance Concerns

TerrAscend Corp. TSNDF New Jersey faced scrutiny from the NJ Cannabis Regulatory Commission (NJ-CRC) for allegedly violating medical cannabis rules. After this violation, the company submitted a corrective action plan. The NJ-CRC Executive Director, Jeff Brown, stated that aside from these instances, TerrAscend had been largely compliant and therefore did not recommend imposing a fine. The matter was ultimately tabled by the NJ-CRC for further review.

TerrAscend's CEO Ziad Ghanem spoke out during the CRC's monthly meeting to defend his company, reported Politico Pro. Asserting TerrAscend's position, Ghanem stated, “I'm a big believer that authentic, honest, good corporate citizens like us paired with fair regulators will always result in strong partnerships that benefit all patients.” He emphasized that the company's mistakes were purely human, without any financial gain motives. Chief legal officer Lynn Gefen also challenged the CRC's portrayal of TerrAscend, indicating discrepancies in its depiction and the company's commitment to compliance. The CRC did not respond during the meeting due to the ongoing appeal.

Editor's note: this story has been updated to include Terrascend's response.

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