Marijuana Consultant Coronavirus
The application for craft grower and infuser licenses was delayed due to the coronavirus. A Chicago Tribune reporter interviews Michael Mayes to discuss the coronavirus. More specifically, topics discussed by the marijuana consultant include costs and safety measures as well as the delayed deadline. Recently, the article was republished by The Pantagraph.
First, the article focuses on difficulties in raising capital. Due to COVID-19, finding investments has become challenging. As a result, Social equity applicants are unable to find investments. Additionally, following a year of cannabis stock declines has added to the challenge.
Our CEO said, “It’s slowed investment capital to almost nothing.”
Delayed deadline for Illinois submission
Secondly, Gov. Pritzker pushed back the deadline for craft grower and infuser applications. As a result of the virus, the new deadline is April 30, 2020.
Surely, COVID-19 made it difficult for applicants to complete their application. For instance, many fingerprint services were shut down. Also, city planning departments shut down making it impossible to obtain signed documents.
Our CEO opened up and told the press that many clients have contracted the coronavirus. Accordingly, many applicants were unable to complete the project.
After voicing his opinion, Illinois will allow applicants to submit incomplete parts of the application. Additionally, license applications can cost up to $1 million. Thus, it is a huge risk and cost for entrepreneurs.
Illinois Marijuana Market is Still Strong
Although COVID-19 is making it difficult for applicants, the market is still strong. Notably, the Pritzker administration reports $36 million in adult-use cannabis sales. Moreover, February reports sales of $34.8 million.
Thus, you should reach out to our marijuana consultants for help in navigating the coronavirus.