MSOs will pay a premium to enter the nation’s most untapped retail marketplace
New York regulators are expanding medical cannabis retail licenses for large multistate operators for the first time since the state launched MMJ sales in January 2016.
The application window for “registered organizations” opened Oct. 31 and will run until 5 p.m. Dec. 19, according to a notice from state’s Office of Cannabis Management (OCM).
Registered organizations, New York’s version of MSOs, will pay a premium to enter perhaps the nation’s most untapped retail marketplace, which currently has only 26 operational licensed adult-use retailers in the entire state, nearly one year after launching adult-use sales.
Applicants must submit:
- A nonrefundable application fee of $10,000 before the application deadline.
- A registration fee of $200,000 within 10 business days of approval.
- In lieu of a lease or secured property, a secured bond of $2 million.
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