We have more details for you regarding the Los Angeles cannabis retail license lottery, following last week’s post on the topic. We combed the Department of Cannabis Regulation’s (“DCR”) website and came up with answers to the three most important questions about the retail lottery.
1. When will the retail lottery occur?
DCR anticipates that the cannabis retail license lottery will occur in winter 2022.
However, the most important step to take right now is to apply for social equity verification. The deadline to apply is July 25th, so now is the time to find your documentation and get verified.
For those who do not qualify, the next best step is to identify and forge a partnership with a social equity verified applicant. We’ll post a blog post about how best to go about this in the coming weeks. Before we do, plan on identifying a partner right before the lottery occurs, after applicants are notified of their verification status. Thus, you should aim to have a partner by November at latest.
2. How many applications will be selected?
DCR will select approximately 125 applicants for further processing using the retail license lottery.
This number is bittersweet. Sweet because it will add a lot more licensed cannabis retail to the city of LA. Bitter because it means DCR will not be able to process all applications in time for applicants to also apply for state provisional licensing. Hopefully, DCR will create a pre-approval process that enables applicants to apply for state provisional licensing prior to receiving DCR temporary approval.
To Read The Rest Of This Article By Janve Sobers on Harris Bricken
Published: June 13, 2022
Founder & Interim Editor of L.A. Cannabis News