Coronavirus Delays Maine Recreational Marijuana Market Launch

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

The long-delayed rollout of Maine’s recreational cannabis market is being delayed yet again. On Friday, the state’s Office of Marijuana Policy (OMP) announced that its opening won’t occur this spring, as was the most recently stated goal. The reason is the same for virtually every business hiatus in these times — the rapidly spreading SARS-CoV-2 coronavirus that has put the world economy at a virtual standstill.

On the same day as its announcement, OMP sent a letter to businesses potentially involved in the recreational marijuana trade. In the document, it said that because of the coronavirus the planned spring market launch “is simply unrealistic.”

Jars of marijuana on a dispensary counter.

Image source: Getty Images.

This postponement, in addition to being far from a surprise given current conditions, was previously anticipated by the state. In early March, because of numerous hiccups related to licensing, the revenue forecasting committee in Maine’s legislature pushed back its estimate of the start to June, rather than the previously anticipated March.

Although Maine technically legalized recreational consumption and sale in 2016, it is only now getting around to licensing cultivation facilities and dispensaries in order to create a proper market. Meanwhile, medical cannabis — which was made legal in 1999 — has been a busy market for many years now.

This will probably be the same for recreational, as the state had received nearly 200 applications for licenses to sell, grow, or process it.

Maine hasn’t provided much detail about those applicants. It’s very possible one is Curaleaf (OTC: CURLF), a marijuana company headquartered in nearby Massachusetts. Curaleaf already operates a medical dispensary in the small Maine town of Auburn, and it’s conceivable that it would like to push into the recreational segment too.

On Thursday, Curaleaf’s shares moved more or less in concert with the broader stock market, rising by 1.5% on the day.

Here’s The Marijuana Stock You’ve Been Waiting For
A little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming.

Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.

And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution.

Because a game-changing deal just went down between the Ontario government and this powerhouse company…and you need to hear this story today if you have even considered investing in pot stocks.

Simply click here to get the full story now.

Home of Science
Follow me

- Advertisement -

Discover

Sponsor

Latest

Pacquiao, 42, to face world champion Spence in first fight since 2019on May 22, 2021 at 9:30 am

Manny Pacquiao is set for his first fight in two years when he faces unified welterweight world champion Errol Spence Jr in August.The 42-year-old...

Your stories: Out-of-hours work emailson June 3, 2021 at 2:01 pm

What do our readers think of receiving work emails outside of office hours?Calls for a ban on out-of-hours work emails have generated a lot...

Gas price rises: Russia not withholding supplies, says ambassador to UKon October 17, 2021 at 12:54 pm

Russia is not slowing gas supplies for political reasons, Andrei Kelin says.

Covid-19: Italy begins strict Easter lockdownon April 3, 2021 at 2:14 am

The measures come as Italy battles a third wave of the pandemic, with more than 20,000 new cases daily.The measures come as Italy battles...

How India descended into Covid-19 chaoson May 5, 2021 at 6:18 am

Experts tell the BBC that delays in decision-making worsened the crisis of India's second wave.image copyrightGetty ImagesOn Monday, a senior official from India's federal...
Home of Science
Follow me