Nevada Awards Cannabis Lounge Licenses, Less Than Half Of The Social Equity Licenses In Nevada Are Operational & More Cannabis Updates
Here are the most important cannabis regulatory updates of the week.
Nevada Awards Social Equity Licenses For Cannabis Lounges
The Nevada Cannabis Compliance Board (CCB) issued six licenses for cannabis consumption lounges reserved for social equity applicants. Kora Cannabis Lounge and Nevada Consumption Lounge received licenses, with Nevada Consumption Lounge securing three. The other recipients, listed as applicants 2, 4, 5 and 6, chose not to disclose their identities. This lottery was a rerun of a previous one where the initial winners were later found to be ineligible for the licenses, reported Green Market Report.
The CCB used random number generator software to award these licenses after an audit disqualified six previous applicants for not meeting residency requirements. In July, the CCB invited eight undrawn applicants to join this selection round, and all opted in. To ease the financial burden, the CCB is returning the $2,500 application fee to social equity applicants who are …