Refine News

BREAKING NEWS: Washington State Now Allows Cannabis Producers to Own Multiple Licenses. Let the M&A Frenzy Begin.

Breaking News: Washington State Now Allows Cannabis Producers To Own Multiple Licenses. Let The M&A Frenzy Begin.

The Washington State Liquor and Cannabis Board (LCB) yesterday rescinded its interim policy prohibiting a business or individual from owning multiple cannabis producer licenses. Now, a business and its principals can own up to threecannabis production licenses, which is up from just one license. Though the LCB’s own rules (WAC 314-55-075)state that “any entity and/or principals within any entity are limited to no more than three marijuana producer licenses,” as of 2014, it restricted cannabis producers to no more than one producer license. Our Washington State cannabis lawyers never liked that restriction as we thought it encouraged illegal grows and bad behavior. See WashingtonLCB Producer License Roll-Back May Encourage Black Market Growers The LCB announced its decision to rescind its one producer license policy at yesterday’s LCB meetingand noting howWashington State cannabis producers had been pushing to be able to expand and how the LCB’s own rules (WAC 314-55-075)allow...

See Article on Canna Law Blog HERE