(Disclosure: Rose Law Group represents Copperstate Farms.)
By Ryan Randazzo | Arizona Republic
Arizona awarded 26 new marijuana shop licenses Friday to people who qualify under a “social-equity” program approved by voters in 2020.
The high-stakes drawing created dozens of potential new millionaires, as the total value of the new licenses were $260 million or more, and also gave at least three existing marijuana companies expanded market share in Arizona.
The new licenses are intended to help people harmed by previous marijuana laws before the drug was legalized, and having a minor conviction was among the criteria for people to apply.
At least 10 went to applicants who partnered with existing Arizona cannabis companies, which critics of the process feared would happen.
The language in voter-approved Proposition 207 not only legalized marijuana for adult recreational use but called for the state to award 26 new licenses to people “from communities disproportionately impacted by the enforcement of previous marijuana laws.”