State officials in Nevada have announced the final 20 applicants who will receive licenses authorizing them to run cannabis consumption lounges.
The Nevada Cannabis Compliance Board conducted a digital drawing on Wednesday “via a random number selector to determine the issuance of independent cannabis consumption lounge licenses for non-social equity applicants and social equity applicants,” the agency said.
State law opened the door for the board to “issue 20 independent cannabis consumption lounge licenses, half of which (10) are designated for social equity applicants.”
The board has said that the lounges are expected to open next year.
On Wednesday, the regulatory board announced the following social equity applicants will receive licenses to open a lounge where cannabis consumption is allowed: NV Cloud 420 Lounge LLC (City of Las Vegas); GGCPA SE Inc (Nye County); MEDSnSIN (City of Las Vegas);
Sunflower Compassionate Company (City of Las Vegas); Lyxe Consulting LLC (City of Las Vegas); Greenwood Investment Group, LLC (City of Las Vegas); N&D Enterprises LLP (City of Las Vegas); City Lights Production LLC (Unincorporated Clark County); Royal Tree TLC LLC (City of Las Vegas); and GGCPA SE 3 Inc (Unincorporated Clark County).
The following non-social equity applicants were also selected via the random draw: FCWC Operations LLC (City of Las Vegas); Shanghai Lounge LLC (Unincorporated Clark County); Higher*Archy LLC (City of Las Vegas); The Limo Joint LLC (Unincorporated Clark County);
KV Group, LLV (Nye County); The Standard Lounge, LLC (Unincorporated Clark County); La Lounge LLC (Unincorporated Clark County); Cafecito SW LLC (Unincorporated Clark County)
Las Vegas Cannabis Industry Leaders (City of Las Vegas); and Rolling Cloudz LLC (Unincorporated Clark County).
Lawmakers in Nevada last year signed off on funding for the Cannabis Compliance Board to hire the necessary staff and support in order to implement the framework for the consumption lounges.
In June, the Nevada Cannabis Compliance Board signed off on the final round of regulations for the consumption lounges.
“In addition to outlining the licensing and operation of consumption lounges, regulations approved today lay the groundwork for greater inclusion within Nevada’s cannabis industry,” the board said in the press release at the time. “All applicants must submit a diversity plan, summarizing actionable steps and goals for meaningful inclusion. Additionally, half of the independent consumption lounge licenses in the initial round must be awarded to social equity applicants.”
“Prior to an open licensing period, the [Cannabis Compliance Board] plans to roll out tools and resources including worksheets, video tutorials and live webinars in order to ensure interested parties have access to the same information and are able to successfully submit an application,” the release continued. “The CCB expects to open the first licensing round for consumption lounges in the Fall, allowing for the first consumption lounges to open as early as the end of the year.”
Local television station KTNV reported that a “handful of applicants gathered at Mariposa Restaurant [in Las Vegas on Wednesday] to watch the virtual drawings unfold.”
Tyler Kilmas, the executive director of the Nevada Cannabis Compliance Board, told the station what now awaits the selected applicants.
“We will do sit down interviews and make sure we understand their ownership structure and their business plan and then they will come in front of the board and the board will determine them suitable or not to proceed to perfecting their license,” says Kilmas.
According to the station, “the state opened an application period [in October], and in total 99 applications for a license were submitted.”
Voters in Nevada approved a ballot measure in 2016 that legalized recreational cannabis use in the state.
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers