Under Virginia’s recently approved adult-use cannabis legislation, existing medical marijuana operators will be able to obtain multiple adult-use licenses if they pay a $1 million fee to the Virginia Cannabis Equity Loan Fund and the Virginia Cannabis Equity Reinvestment Fund, and if they submit plans for diversity, equity and inclusion.
“Across the country, we see [legalization] is a matter of when, not if,” Dooley said.
Green Thumb’s philosophy, Dooley said, is to establish itself in communities as a reliable partner. In this case, the company sought and received approval from the Virginia Board of Pharmacy to take over Dharma’s operations.
“We announced our plans May 3 and, for the past two months, we have been working with the Virginia Board of Pharmacy to get the approvals,” Dooley said, adding that some corporate folks have been in Abingdon working with the existing workforce.
“We essentially just got 30 new team members,” Dooley said. “We’re excited to build out. With the license, we can open up to five stores, and we look forward to expanding.”
With the acquisition, Green Thumb has the opportunity to open up to five additional retail locations in Virginia. Dharma previously announced plans for a Salem dispensary location and work to establish it is continuing, Dooley said.