Oregon Cannabis: OLCC Will Resume Processing New License Applications!
Big news from the Oregon Liquor and Cannabis Commission (OLCC) this week as it announced it has resumed accepting and processing of new marijuana retailer, wholesaler, and processor applications submitted after June 15, 2018.
This is welcome news as the OLCC had imposed an administrative “pause” on new applications to focus on existing licensees and submitted, but un-processed, applications. This pause, as we have written, created a significant secondary market for the purchase and sale of licensed businesses as it became the only way for cannabis entrepreneurs to enter the market.
Notably the moratorium remains on application for producer licenses. This is something the OLCC can do nothing about – for several weeks anyway – as the moratorium was imposed by the Legislature. That law expires on January 2, 2022. What happens on January 3, 2022, is anyone’s guess at this point. For now, the secondary market for producer licenses remains very active with licenses hovering in the quarter-million dollar range.