AUSTIN, Texas (AP) — Texas has issued its first medical marijuana license, and two more companies are expected to be awarded licenses soon.
Cansortium Texas, which is a part of Florida-based Cansortium Holdings, received a license Friday, the Austin American-Statesman reported . The company will be allowed to grow, process and sell medical marijuana for patients with a rare form of epilepsy.
Cansortium Holdings Chief Executive Officer Jose Hidalgo said he’s humbled the company received the license. The company has medical cannabis licenses in Florida, Pennsylvania and Puerto Rico.
The state Department of Public Safety is reviewing applications from Compassionate Cultivation and Surterra Texas.
The companies were selected from more than 40 applicants in May and have undergone a series of facility inspections. They face strict state regulations that restrict their customer base and how they formulate the products.
“It is safe to say that it is a challenging market,” said Morris Denton, chief executive of Compassionate Cultivation. [Read more at My San Antonio]