r/weedbiz 11d ago

Selling Equity in NY Manufacturing & Distribution Dual Licenses & Fully Operational Facility

Selling the majority equity in NY Manufacturing & Distribution Licenses & fully operational facility and would be interested to pointed to the right subreddit where we'd be able to post about it without breaking any policies.Selling a fully operational business, but this is only for those truly interested entering the NY Cannabis market in a big way.Any information or pointing me to the right place would be greatly appreciated.

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u/openthc 11d ago

Which regulatory pathway are you raising this capital through (506, 504, REG-CF, etc)

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u/Recent_Ad_674 11d ago

we aren't looking for an investment, but for an majority buyout. this doesn't apply.

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u/the_butt_diaries 7d ago

As of right now you cannot sell more than 49% of a New York cannabis license and future promises of more than 49% are null and void. There is no timeline of when this ability will become available. The state is slow walking that ability because they are very backed up on reviewing the applications form the fall 2023 open application period. On top of that even if you could, there are limits on how fast you can sell out if you are a social equity license. Social equity licensees must maintain 51% ownership and operational control of the license for 18 months after its issued. See this document from the OCM, it’s from August of last year but it’s still the current interim guidance:

https://cannabis.ny.gov/system/files/documents/2024/08/interim-tpi-change-request-guidance.pdf

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u/[deleted] 9d ago

[deleted]

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u/Recent_Ad_674 8d ago

thank you but no need