Delaware governor tours cultivation facility before recreational sales launch
The state is now the 22nd in the U.S. to permit adult-use marijuana
Rowan Dunne
Delaware just became the latest American state to allow recreational cannabis consumption within its borders.
Two days before the Aug. 1 launch, state Governor Matt Meyer took a stroll through a local cultivation facility operated by Marimed Inc OTCMKTSMRMD. He likes to believe that Delaware will become renowned for producing the “French wine of weed,” as highlighted in a government news release.
Therein, he said the recreational cannabis sector would facilitate robust economic growth in his state and create good-paying jobs for residents. A 15 per cent excise tax could yield up US$40 million for Delaware per annum.
“This is a freedom Delawareans should have,” the state leader said in an interview on Thursday at MariMed’s operation in Milford.
MariMed is one of six medical marijuana suppliers that were awarded adult-use licenses within the past couple of months. They collectively hold 13 dispensary locations throughout Delaware. Each one was required to pay a US$100,000-dollar fee to the government for converting their retail outlets from medical pot shops to 21+ stores.
“Thanks to the leadership of Governor Matt Meyer and the tireless work of the team at the Office of the Marijuana Commissioner, Delawareans will finally see the implementation of a law passed two years ago,” said Delaware Marijuana Commissioner, Josh Sanderlin, on social media, “bringing new opportunities, greater consumer safety, and the beginning of a regulated marketplace.”
According to the MJBiz Factbook, a highly-credible source of industry information, Delaware could potentially start generating US$160 million from legal weed sales annually by next year.
Aside from MariMed, cannabis operators with an established medical distribution presence in Delaware like Cannabist Company Holdings Inc OTCMKTSCBSTF FRAVW5, Green Thumb Industries Inc CNSXGTII OTCMKTSGTBIF and Curaleaf Holdings Inc TSECURA OTCMKTSCURLF could potentially reap significant benefits from the new legalization measures in the coming years.
We were honored to host Delaware Governor @MattMeyerDE at our Milford cultivation facility yesterday. He took a tour w Chief Commercial Officer Ryan Crandall, where he saw our prep to leverage adult-use sales starting this Friday! $mrmd #cannabis #potstocks #msogang
Read more: Cresco Labs becomes latest operator to bail on California weed sector
Read more: Omaha Tribe legalizes cannabis on Nebraska reservation lands
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