California’s legal marijuana market is finally, fitfully, taking shape.
The state on Thursday issued the first batch of business licenses to sell and transport recreational-use pot, just 18 days before legal sales will begin on Jan. 1, 2018.
The 20 temporary licenses — some of which were for the previously existing medical marijuana industry — represent a fraction of the thousands of licenses expected to follow as the state embraces legal weed in 2018, but their release set off jubilation.
“I couldn’t be more excited,” said Jordan Lams, CEO of Moxie whose parent-company Pure CA received the first distributor license.
At Torrey Holistics in San Diego, Tony Hall credited his business background and detailed application with helping land the first license for a retail shop to sell recreational pot. The store, which has two certified public accountants, a chief financial officer and marketing director, submitted a 60-page lease, diagrams and a detailed business plan.
“I think it’s how we conduct our business. We all have a professional background,” said Hall, the former owner of a chemical distribution company who opened the medical marijuana shop two years ago with a college friend.
He sees recreational marijuana taking off like the wine and craft beer industries. [Read more at NBC Los Angeles]