Infused chocolates, beverages and cookies will soon be available. TerrAscend and Columbia Care get slapped with hefty fines.
The state Cannabis Regulatory Commission expanded the use of edible products to infused chocolates, baked goods, butters, jams and beverages Friday. The board also fined two of the state’s larger cannabis companies for running afoul of regulations, levying tens of thousands of dollars in fines.
The commission has latitude to go below or above Brown’s recommendation. Its chair, Dianna Houenou, however, increased the final amount to $100,000, saying it reflected the systemic nature of TerrAscend persistently ignoring the law. Delgado was the sole voice of dissent among the four commissioners in attendance, accusing Houenou’s suggestion of being “shortsighted” and calling the fine onerous. Commissioner Maria Del-Cid Kosso was absent.
Krista Nash, a commissioner who was appointed to the board in large part for championing unions, voiced strong support for the fine against Columbia Care. “Today we saw another exciting leap forward in the progress of New Jersey’s cannabis industry. To date, the CRC has approved over 280 licenses for cultivation, manufacturing and retail in the state, creating exactly the kind of momentum we need,” he said. “These combination of events and today’s action shows that now is the perfect time to invest in New Jersey’s cannabis industry.”
Brown gave a brief synopsis of the price of weed flower going down since the beginning of the year, from $391 an ounce in January to $366 in July with prices in the medicinal market dropping even lower to $313 an ounce, or $11.18 per gram. “In new markets like New Jersey, this is good news,” he said, adding that by comparison in Massachusetts’ first two years of legalization the average price for an ounce was $400.
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