One of Vermont’s four dispensary operators is already planning on expanding their operations as allowed by the medical cannabis expansion recently signed into law by Gov. Phil Scott. The law allows current operators to add a second location, in addition to adding post-traumatic stress disorder, Crohn’s disease, and Parkinson’s disease to the state qualifying condition list.
“We support the efforts made by the state to make the medical cannabis program more accessible to Vermont’s qualified patients, “said Alex Ford, executive director of Grassroots, in a press release. “We look forward to securing our second dispensary location so that we can provide more patients with the highest quality, affordable medical cannabis.”
Grassroots is funded by iAnthus Capital Holdings, a venture capital firm, and the partnership is currently exploring converting Grassroots into a for-profit entity – also allowed under the new regime. To date, iAnthus has provided Grassroots with a credit facility of $775,000.
While Gov. Scott did codify the medical cannabis expansion bill, he declined to do the same on a measure that would have legalized cannabis possession by adults in the state. Randy Maslow, president of iAnthus, said that while he believed “it is impossible to be certain” that lawmakers will revisit the issue during the next session; he said it is “likely” that another measure will be proposed and that the governor has “expressed willingness” to work with the legislature on the issue.
According to a 2015 report from the RAND Corporation, a taxed and regulated cannabis industry in Vermont could exceed $100 million.