I Received a License, Now What?

On March 15^th, 179 applicants were chosen using a lottery system to receive adult cannabis licenses out of more than 1,500 applicants. New licensees will undergo a final approval process before conditional licenses are distributed by MCA. These licenses will be distributed on a rolling basis by type and region so no one business has an unfair advantage over another. Licensees will then have 18 months to get their businesses operational once they officially have their license.

Shulman Rogers is excited to welcome all new licensee holders to Maryland’s growing adult use cannabis industry! While getting a cannabis business operational in less than two years may seem daunting, industry partners are ready to support new licenses and provide resources to assist in growing new businesses.

Shulman Rogers publishes an industry resource The Legal Leaf: Cannabis Alerts on a regular basis to provide important updates and news to clients and friends in the cannabis industry. With the intent of supporting new Maryland licensees, Shulman Rogers will be running an article series to assist new licensees as they address key business, legal and regulatory questions and develop strategies to raise capital.

Our upcoming seven-part series will provide insights on best practices for growers, processors, and dispensaries to effectively raise capital, build relationships, and scale their businesses in the State of Maryland. The series will illustrate the lifecycle of a Maryland cannabis company from the time it receives a license to operate through late-stage fundraising activities.

The article series will include information on finding investors, navigating regulatory pitfalls, scaling a growing business, and understanding exit plans. Click HERE to subscribe!

The Shulman Rogers Cannabis Industry Practice Group provides a full range of legal services to cannabis industry clients including investors, growers/cultivators, processors/manufacturers, dispensary owners, medical professionals, technology and product development companies and other businesses that intersect with the cannabis sector.