New Jersey takes step toward adult use cannabis sales

New Jersey’a Cannabis Regulatory Commission on Monday OK’d applications from seven cannabis companies to sell cannabis to adults over 21, pending operational inspections and issuance of new licenses. Acreage Holdings , Ascend Wellness Holdings Inc. , Columbia Care Inc., Curaleaf , Green Thumb Industries , Verano Holdings Corp. and TerrAscend Corp. will be allowed to operate a combined 13 adult use dispensaries. The state is also processing applications for other adult use players but will allow these companies to start selling sooner. The AdvisorShares Pure Cannabis ETF is down 25% so far this year.

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