Lawyer Phil Silvestri recently explained the timeline in Nevada’s cannabis licensing market, predicting a license bust and urging holders of licenses to act quickly if they aren’t intending to build out and operate the grow or the dispensary. He has updated his views to account for a policy ruling in December that suggested Nevada would not nullify a license if there were “significant progress” being made. Silvestri suggests those not intending to become operators should sell now. Speculative buyers have their eyes on the potential legalization that voters could approve in November:
Purchasing a Nevada cannabis license now is a bet on the future of Nevada marijuana. If you buy a the license now, you will be getting involved in a cannabis industry that caters to the small Nevada population of medical marijuana card holders and out of state visitors with their own medical cards. BUT, if recreational marijuana passes in our election in November (which we are believe will happen), these licenses will almost certainly start selling for a lot more even than today.
Read Phil Silvestri’s “Nevada Cannabis License Sales: It’s Crunch Time”: http://www.cannalawblog.com/nevada-cannabis-license-sales-its-crunch-time
Are you a cannabis industry thought leader and want to be heard? Let us know your story.