The Michigan medical pot market is advancing, with the Michigan Medical Marijuana Licensing Board approving licenses for two separate testing facilities yesterday.
Michigan Medical Pot Market: Licenses Approved
On Thursday, Iron Laboratories and Precision Safety Innovation Laboratories were rewarded with licenses. Note that the board has given several licenses already, but none of them were for testing facilities.
It's important now that licenses have been approved for testing facilities in Michigan as it means growers and dispensaries now have someone to give their products to for testing.
What Happens When the Licenses are Given?
Once these Michigan testing facilities receive their actual licenses, then the Michigan medical pot market will really kick off—which is supposed to be huge.
According to Ben Rosman, CEO of PSI Labaorities (one of the approved testing facilities), the state of Michigan has the "second-biggest medical marijuana patient population" in the United States.
In order to test cannabis, as well as cannabis-infused products that will be sold in Michigan dispensaries, facilities need licenses and getting approval is the first step in this process.
Not everyone was as lucky as Iron Laboratories and Precision Safety Innovation Laboratories, though. In fact, several applications were rejected.
Who was Rejected?
Reportedly, 23 applications were considered, but the board passed on a number of them. Specifically, four grow operations, four processors, and five dispensaries.
Moreover, the Michigan Medical Marijuana Licensing Board denied approval of three dispensaries, two processors, one small grow operation, and three large ones.
The Takeaway
Are you ready for the Michigan medical pot market to kick off? There are a few towns in Michigan that are still against the idea of medical marijuana, but overall, it seems like the state is eager for testing facilities to start exploring the products that will be sold in dispensaries.
Let us know what you think in the comments below.
>> Cronos Enters Supply Agreement with Major Cannabis Producer: Watch Out Aurora
Featured Image: Medicine Creek Analytics
