When New Jersey’s hopes of legal recreational cannabis were squashed in March, the state vowed to expand its medical marijuana program. Now, the New Jersey Department of Health is taking action and looking for new applicants to operate up to 108 additional Alternative Treatment Centers (ATCs), one of which will be Chemistree Technology’s partner Applied Cannabis Sciences of New Jersey (ACS).
The Department of Health announced its expansion plans last week, which will include up to 24 cultivation licenses, up to 30 manufacturing permits, and up to 54 dispensary licenses. Applications will be available on July 1, and ACS has already announced its plan to apply for all three permit types to create a vertically integrated business model, which bodes well for its Vancouver-based partner, Chemistree Technology (CSE:CHM) (OTCQB:CHMJF).