Chemistree Technology (CSE: CHM) (OTCQB: CHMJF) this morning announced that its partner, Applied Cannabis Sciences of New Jersey (“ACS”), is preparing an application under the Department of Health’s new Request for Applications (“RFA”) program. According to the update, the Department will seek up to 24 cultivation, 30 manufacturing and 54 dispensary endorsements. ACS will apply for all three permit types, as allowable, creating a vertically integrated business model. “When we entered discussions to participate with ACS, we were particularly impressed by the team of industry experts they had assembled, and their deep local knowledge of the dynamic, developing New Jersey market for medical cannabis,” Chemistree President Karl Kottmeier said in the news release. “The fact that the state authorities have recognized the need to expand the total number of licenses and speed-up their licensing process is certain to be welcome news to a large and under-served population and a huge opportunity for ACS.”
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About Chemistree Technology Inc.
Chemistree Technology Inc. is an investment company dedicated to the U.S. cannabis sector, endeavoring to provide turn-key solutions for the regulated cannabis industry. The company’s corporate strategy is to acquire and develop vertically integrated cannabis assets, leveraging management’s decades of expertise in the cannabis industry and corporate finance to own and operate licensed cultivation, processing, distribution and retail facilities. Outside of Washington State, Chemistree owns the exclusive worldwide rights to the Sugarleaf brand. For more information, visit www.Chemistree.ca.
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