Justin Tepe Quoted on Cap on Cannabis Licenses for Publicly-Traded Companies

By: GDLD | 2.14.22 | Media

Justin Tepe - Blog HeadshotUnder Maryland law and regulations, a cannabis business cannot own more than one cultivation or processing license and more than four dispensary licenses. What does that mean for publicly-traded companies and the large number of private investors who hold their stock? Justin Tepe, a co-founder of the Cannabis Law practice at Goodell DeVries, is quoted on the issue in this piece from the Baltimore Business Journal.

From the article:

Tepe said that state law and regulations make clear that any amount of ownership in more than one cannabis cultivator is a violation.

Tepe called the limit on license ownership “absolutely vital” to the cannabis industry, saying that it ensures non-publicly traded companies can continue to compete in Maryland. But Tepe thinks this issue will only keep cropping up. More firms are consolidating, he said, and there could be a wave of new licenses if and when the state legalizes adult-use recreational cannabis.

Read the full article here: Md. doesn’t want you to own too many cannabis licenses. Here’s how it's happening anyway.