A subsidiary of Curaleaf Holdings Inc. is acquiring the Virginia operations of the Cannabist Company Holdings Inc. – formerly known as Columbia Care – in a deal potentially worth $110 million. The assets include five active retail locations, one retail location in development, and about 82,000 square feet of cultivation and production capacity in Richmond. The transaction […]
Virginia Cannabis News
Virginia was the first state in the South to legalize adult-use cannabis and regulated adult-use sales are expected sometime in 2023. Scroll down to see the latest Virginia cannabis industry updates and interviews:
Virginia cannabis legalization & the future industry
Virginia was the first U.S. state in the South to legalize adult-use cannabis following a successful push by the Democrat-controlled legislature. But while the legalization law took effect on July 1, 2021, adult-use cannabis sales are unexpected until sometime in 2023. In the meantime, cannabis possession is allowed for adults aged 21+ up to one ounce of flower, and cannabis sharing/consumption is legal in private spaces.
Cannabis possession rules
- Adults aged 21+ can possess up to an ounce of cannabis flower.
- Additionally, the home growing of cannabis plants — up to four plants at a time — has been ‘defelonized’ in Virginia.
- Like the commercial marketplace, home grow cultivation rules should be finalized in the coming years.
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