Nearly a year after Michigan voters approved legalizing marijuana for adult recreational use, the state is getting ready to hand out the business licenses that will usher in the beginning of retail sales.
But don’t pull out your cash just yet. Sales of marijuana for adult recreational use probably won’t begin until March or April of next year. That’s because the state is worried about a shortage of pot for medical marijuana users, and the first harvests for the recreational market won’t be ready until next spring.
And the state hasn’t decided yet whether it will allow medical marijuana growers, processors and dispensary owners to transfer existing medical marijuana flower and infused products to the recreational market.
“It’s incumbent upon us to ensure that there’s access for medical patients through the medical marijuana facilities,” said Andrew Brisbo, director of the state Marijuana Regulatory Agency. “So I would err on the side of caution and ensuring better access to their needs instead of moving products into the broader adult use market.”
For some, it’s a disappointing delay for a market that has been itching to start since voters approved legalizing marijuana last November 56-44%. [Read more at Detroit Free Press]
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