Publicly traded multi-state operators (MSOs) play a big role aleready in the New Jersey medical cannabis market. Last month, the state added 2 permits, bringing the total number of Alternative Treatment Centers to 11 with the additions of Zen Leaf (Verano New Jersey) in Elizabeth and Columbia Care (NEO: CCHW) (CSE: CCHW) (OTC: CCHWF) in Vineland.
The other nine centers include:
- Breakwater Alternative Treatment Center – Cranbury
- Compassionate Care Foundation (The Botanist) – Atlantic City
- Compassionate Care Foundation (The Botanist) – Egg Harbor
- Curaleaf NJ, Inc – Bellmawr
- Greenleaf Compassion Center – Montclair
- Garden State Dispensary – North Woodbridge
- Garden State Dispensary – Union
- Harmony Dispensary – Secaucus
- Rise – Paterson
Of the eleven dispensaries, seven are operated by MSOs, four of which are publicly traded, with Compassionate Care Foundation operated by Acreage Holdings (CSE: ACRG.U) (OTC: ACRGF), Curaleaf NJ operated by Curaleaf (CSE: CURA) (OTC: CURLF) and Rise operated by Green Thumb Industries (CSE: GTII) (OTC: GTBIF). Zen Leaf is part of private MSO Verano Holdings. Additionally, Greenleaf recently agreed to be acquired by private MSO Ascend Wellness Holdings.
Three other operators are building out cultivation facilities after being approved in 2018, with TerrAscend (CSE: TER) (OTC: TRSSF) approved to cultivate in January, MPX NJ, which is owned by iAnthus (CSE: IAN) (OTC: ITHUF), approved to cultivate in February and Justice Grown approved to cultivate in April. Of all of the twelve operators approved to cultivate, then, six are publicly traded.