West Virginia recently shared information on their 285 medical marijuana applicants. This includes applications for one laboratory, 44 cultivators, 199 dispensaries and 41 manufacturers. A review of the data shows that 82 companies submitted the 285 applications. Notably only 34 applicants applied for one license while companies like Kindred applied for 29.
The West Virginia Bureau for Public Health is allowed to issue permits initially for no more than 10 growers, 10 processors and 100 dispensaries. Individuals wishing to own more than one dispensary permit must apply for each location under a separate application with separate application and permit fees for each location. Provided that, the Bureau may not issue more than:
- one individual grower permit to one person
- one individual processor permit to one person
- 10 individual dispensary permits to one person
The eleven companies below accounted for 44% of the applications. The fees are $10K for a dispensary application and $50K for a cultivator or manufacturer/processor. 205 out of the 285 (72%) are vertically stacked with the applicant trying for at least one of each license type.
There has been interest from some of the Multistate Operators like Verano, Columbia Care, Trulieve and Greenhouse Wellness. We also identified the following 29 companies that have applied for a full stack:
- Almost Heaven Cannabis Company, LLC
- Appalachian Pharmaceuticals, LLC
- Armory Pharmaceutical, Inc
- CAMO Medical West Virginia, LLC
- Capital Mountain LLC
- Columbia Care WV LLC
- Curative Growth, Inc
- Eagle Dispensaries WV LLC
- Green Leaf Medical of West Virginia, LLC
- Greenhouse Wellness
- GreenSmith, LLC
- Harvest Care Medical, LLC
- Holistic WV Farms I LLC
- Logan Investment Partners, LLC
- Mountaineer Holding LLC
- Mountaineer Integrated Care Inc
- Mountaineer Releaf, LLC
- New Leaf WV, LLC
- Organic Remedies WV, Inc
- Redbud Hill
- Tariff Labs, LLC
- Trulieve WV, Inc
- V3 WV
- Verano WV LLC
- Waco Cannabis, LLC
- WBT, LLC
- Wild and Wonderful Cannabis, LLC
- WVAP One LLC
Why Is This Important?
- West Virginia is the latest medical marijuana program to come online since Missouri. West Virginia’s population is less than a third of Missouri’s yet they’ve approved up to 100 dispensaries compared to 192 in Missouri. Perhaps this is one way for the state to address the opioid crisis that has ravaged the state.
- The fee revenue was not insignificant. Total fees collected were $6,240,000 which would be gotten you 2,496 licenses in Oklahoma!
- There’s a high concentration of applicants in the state with 11 companies responsible for 44% of the applications.
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Ed Keating is a co-founder and Chief Data Officer of Cannabiz Media and oversees our data research and government relations efforts. He has spent his whole career working with and advising information companies in the compliance space. Ed has overseen complex multijurisdictional product lines in the securities, corporate, UCC, safety, environmental and human resource markets and focuses on workflow products over the last twenty five years. During that time he has worked for both startup and established information companies where he has led marketing, product management and sales organizations. These companies include Wolters Kluwer/Commerce Clearing House, CT Corporation, EDGAR Online and Business & Legal Reports. At Cannabiz Media Ed enjoys the challenge of working with regulators across the globe as he and his team gather corporate, financial, and license information to track the people, products and businesses in the cannabis economy. Ed graduated from Hamilton College and received his MBA from the Kellogg School at Northwestern University.