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Multistate operator Sweetspot Brands is now offering recreational cannabis alongside medicinal products at its Voorhees Township dispensary.
After the New Jersey Cannabis Regulatory Commission approved the company’s application to enter into the personal-use market, the business kicked off recreational sales May 11.
Located at 903 White Horse Road, Sweetspot Dispensary first opened last fall as the first business from the state’s 2019 round of licensing to begin serving medical patients.
From July 2022 to September 2022, New Jersey recreational cannabis sales totaled $116.5 million. This marks a 46% increase from the $79.7 million in revenue generated from April 21 – when the adult-use marketplace opened – through June, according to the New Jersey Cannabis Regulatory Commission (CRC).
The figure increases to $177.7 million when you factor in medicinal sales from that same time period.
There are now 20 dispensaries in New Jersey selling recreational cannabis, and another 10 that sell medicinal cannabis to registered patients only.
Sales of adult-use cannabis in New Jersey for the third quarter of 2022 topped $100 million, according to recently released data from state officials. The New Jersey Cannabis Regulatory Commission reported that sales of recreational marijuana from June 2022 through September 2022 totaled $116,572,533, representing a jump of 46% over the previous quarter. Sales of medical cannabis came to $61,138,231 during the same time period, bringing the total for combined medical and recreational marijuana sales to $177,710,764 for Q3 2022.
Sunnytien LLC sought, and received, a variance and a waiver of a site plan for a business selling cannabis to adults at the site, along with a consumption lounge where customers can imbibe in the now-legal product.
Landgraf told the board that he checked with the owners as part of the application process, and only cannabis and cannabis-infused products purchased at the business will be allowed to be smoked or ingested in the lounge. The business will also need air filtration systems to keep the smoke from being smelled outside the building.
Curio Holdings LLC, a subsidiary of privately-owned Curio Wellness based out of Maryland, filed a lawsuit in the Superior Court of NJ, Appellate Division (#A-000947-21), against New Jersey Cannabis Regulatory Commission (NJCRC) for a stay of Alternative Treatment Center license awards in the Central Region, alleging application fraud from several of the awardees of the coveted licenses.
In October, the New Jersey Cannabis Regulatory Commission “accepted the recommendation to approve 14 of the 2019 medicinal cannabis business applications that had been previously held up due to a court-ordered stay of the review process,” with “10 applications for cultivation permits and four applications for vertically integrated permits” approved to “begin preparations to serve New Jersey’s medicinal cannabis patients.” Due to increased patient need, “five more cultivation permits were awarded than had been planned in 2019,” the commission said.
The New Jersey Cannabis Regulatory Commission on Friday is expected to award licenses for new medical marijuana cultivation centers, as well as licenses for vertically-integrated medical marijuana operations — where the license holder grows, manufactures and sells the drug, according to the commissions agenda for its meeting.
New Jersey regulators reportedly won’t make Saturday’s statutory deadline to begin accepting adult-use marijuana business license applications for the projected $1 billion market.
But they plan to publish a public notice that lists an application start date and the information an applicant will need to submit an application, NJ.com reported.
Regulators intend to provide businesses a clear picture of what materials they will need to submit an application so they can prepare to do so before the licensing round is opened.
According to Headset, the Seattle-based marijuana analytics firm whose latest forecast said cannabis sales in general could surpass $30 billion by the end of 2022, edibles account for about 10 percent of the legal retail market.
Gen Z and Millennials are now the largest consumers of weed and cannabis products, along with women, and even if flower and concentrates are most popular among these demographics, there’s still a big market for edibles.
The law requires that a drug test include both a “physical evaluation” and “scientifically reliable objective testing methods and procedures, such as testing of blood, urine, or saliva.” The “physical evaluation” must be conducted by an individual certified to provide an opinion about an employee’s state of impairment, or lack of impairment, related to the use of marijuana.
