CT Insider Report: CT agency gave $1.25 million to cannabis company that can’t legally sell in state

You really have to wonder!

 

A quasi-public Connecticut agency invested $1.25 million in a cannabis company last year. In exchange for a stake in the business, the company, which had plans of manufacturing its product in Connecticut, was required to move its headquarters to this state.

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As 2023 comes to a close, that company, known as 1906, has relocated from Colorado to Stamford. But just how much business the company can do here – and therefore how many staff members it has here – remains limited as regulatory issues have slowed progress for the firm.

Despite needing to be headquartered in Connecticut as a term of their investment, state officials have confirmed that 1906 doesn’t have a license to sell products in the state, and their products are not manufactured here. And in light of recent changes to Connecticut law, it is unclear if their current line of products could be legally manufactured or sold in CT.

State law specifies that cannabis products sold in Connecticut must be manufactured in-state, and state Department of Consumer Protection spokesperson Kaitlyn Krasselt confirmed that 1906 does not have a cannabis retail license and that none of their products are manufactured in Connecticut. The company did apply for a manufacturing license in this state, but did not win the lottery that would allow them to legally manufacture cannabis products

More here 

https://www.ctinsider.com/cannabis/article/ct-1906-nuka-connecticut-innovations-18480399.php

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