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Texas Issues First Medical Cannabis License
Author: Addison Herron- Wheeler 15/09/2017 - 20:42:00

Texas just issued its first medical cannabis license, and other companies are expected to do the same soon. 

According to the U.S. News, Cansortium Texas, which is an offshoot of Cansortium Holdings, received its license at the beginning of the month. The company also has licenses in Florida, Pennsylvania and Puerto Rico. With the approved license, it will be allowed to grow, process and sell medical cannabis to approved patients. 

Along with Cansortium Texas, Compassionate Cultivation and Surterra Texas are next in line to get licenses. These companies were selected out of 40 applicants this past May, and they have already undergone a series of factory inspections in order to qualify for a license. Even after passing, they will still face strict cannabis regulations in the emerging Texas market. “It is safe to say that it is a challenging market,” said Morris Denton, chief executive of Compassionate Cultivation. 

These licenses are all being issued under the Texas Compassionate Use Act, which was signed into law in 2015. So far, only patients with intractable epilepsy will be able to use the cannabis oil that is cultivated at these facilities. Those patients must also have a prescription, and they must be able to prove that they have already tried two other forms of medicine that were ineffective in treating their condition.

Each approved company will pay $490,000 to get started, and then they will pay $320,000 every year to renew their licenses. Industry officials claim that this is to cover the cost of regulations. The applicants are willing to pay these fees, but many hope that the cannabis industry expands soon.

While they may be off to a slow and restrictive start, Texas is taking steps to begin legalization. Many believe that if Texas were to expand their medical program to serve more patients, they could rival major states like California in sales.

The post Texas Issues First Medical Cannabis License appeared first on Culture Magazine.

Original article from ireadculture:Texas Issues First Medical Cannabis License


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