A New York-based cannabis corporation has signed a letter of intent to help Egg Harbor Township medical marijuana dispensary Compassionate Care Foundation expand to meet increased demand.
The agreement to enter into a long-term management contract must be approved through New Jersey’s regulatory approval process, Acreage Holdings said in a statement.
If approved, Acreage — which announced in April that former Speaker of the United States House of Representatives John Boehner and former Governor of Massachusetts Bill Weld joined its Board of Advisors — would provide financial resources as well as expertise to Compassionate Care, Acreage said.
The nonprofit Compassionate Care is one of five operating Alternate Treatment Centers in New Jersey, licensed to grow and dispense medical marijuana.
New Jersey would be the 12th state in which Acreage does business, according to the company.