The New York Cannabis Control Board (the "CCB") has extended the window for adult-use cannabis license applications by two weeks. The announcement came during the CCB hearing on Tuesday, October 17th. The new deadline to apply for expedited final Retail Dispensary and Microbusiness licenses has been extended to 5:00pm on November 17th, and the deadline to apply for provisional licenses for all license types was extended to 5:00pm on December 18th.
These extensions will allow for a larger group of applicants to submit their applications, and those seeking expedited processing of their application by securing real estate ahead of their application can use this additional time to continue to locate property and negotiate a lease. Chris Alexander, Executive Director of the New York Office of Cannabis Management (the "OCM"), told the CCB that they have already received "thousands" of applications for various license types since the application window opened on October 4th.
The CCB also approved emergency enforcement regulations related to penalizing and closing unlicensed retailers. Among other things, the emergency regulations allow OCM to impose fines of up to $20,000 per day on stores selling cannabis without a license.
You can find additional information about New York's cannabis application process and the New York market generally here, here and here.
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