Chemistree Provides Corporate Update Regarding New Jersey Cannabis Legislation
Chemistree director Nico Zitelli provided this update; "Two major steps were taken in New Jersey last week that greatly increase our outlook in the Garden State.
Chemistree director Nico Zitelli provided this update; "Two major steps were taken in New Jersey last week that greatly increase our outlook in the Garden State.
Chemistree Technology Inc (CSE:CHM) (OTCMKTS:CHMJF) announced Monday that through a wholly owned US subsidiary, it has finalized its investment in Applied Cannabis Sciences (ACS) of New Jersey.
The completion of the investment comes as ACS, Chemistree's new partner, gears up to submit applications for licenses under the state’s new marijuana plan.
New Jersey recently announced a plan to offer up to 24 new permits, consisting of 15 dispensary permits, five cultivation permits, and four vertically integrated permits. All applications have to be submitted by August 22.
When New Jersey’s hopes of legal recreational cannabis were squashed in March, the state vowed to expand its medical marijuana program.
Chemistree quickly moved to become a multi-state operator (MSO) by establishing the Sugarleaf brand in California through a strategic collaboration with a cannabis processing company in Humboldt County.
Cannabis industry veteran Nicholas Zitelli has joined the board of the New Jersey CannaBusiness Association, it was announced Friday.
Zitelli is CEO of Applied Cannabis Sciences of New Jersey, a group with medical marijuana dispensary licenses across several states and an applicant in New Jersey. Additionally, he is part owner, director and chief cannabis officer of New York-based Trans High Corp., the parent company for all High Times brands.
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