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420 with CNW — Ohio Officials Post Adult-Use Cannabis License Application Forms as Market Launch Looms

Cannabis regulators in Ohio have released guidelines to help medical marijuana dispensaries prepare for the application process to obtain dual licenses. These licenses would allow them to serve both medical patients and recreational consumers. Applications are expected to open soon, and the Cannabis Control Department (DCC) has provided a FAQ and detailed instructions to assist potential applicants in starting the process.

The provided materials cover various aspects, such as eligibility requirements, the approval procedure, regulations for dual license holders and the necessary documentation for applications.

One question addresses the timeline for reviewing and issuing dual licenses following the submission of an application. The DCC notes that predicting the exact number of days is challenging because it depends on several factors. These include the completeness of the application, the completion of employee badging, adherence to surveillance standards and the fulfillment of inspection requirements, including standards for POS.

However, a faster turnaround time is anticipated for current medical cannabis license holders that have previously satisfied the dual-use license standards and have properly established their POS.

Applications will typically be reviewed in the order they are submitted and received, but the FAQ highlights that applications from testing laboratories, cultivators and processors will be given precedence to ensure an effective supply chain.

Dual licensees must also ensure they maintain sufficient stock of marijuana to meet the needs of medical patients and avoid shortages. The DCC advises each dispensary to determine the appropriate amount of supply for their operation.

Although Governor Mike DeWine does not support cannabis legalization, he has criticized the delay in access to regulated products since voters approved legalization, which made possession legal last December. There have been legislative discussions about creating a bill to expedite sales and make various changes to the law, but these plans have stalled due to disagreements within the Republican-controlled legislature.

While the Senate passed an amendment package before legalization took effect, the House has not acted on it, nor has it moved forward with a different proposal originating in the House. Senators have also recently introduced a separate bill to modify various marijuana regulations.

Regulators have been completing the recreational market’s regulations in the meantime. They changed the regulations in February, letting caregivers and patients who use medical marijuana obtain or renew their registrations for only a penny. As part of an initial package of rules announced by the DCC in February to effectuate recreational legalization, this fee was fully deleted with the adoption of a new rule at the Joint Committee on Agency Rule Review (JCARR) conference last month.

When the market is finally launched, many entrepreneurs will have a chance to start thriving marijuana businesses similar to entities currently operating in other jurisdictions, such as Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF).

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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