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Barclays Middle Welcomes New Journey Company Hashish Retailer Amid NY’s Increasing Authorized Market – Curaleaf Holdings (OTC:CURLF)

The Journey Company: A Hashish Retailer and Curaleaf Holdings Inc. CURLF are opening new hashish outlets in New York, enhancing the state’s authorized hashish retail presence.

The Journey Company is about to develop into the primary model with a number of areas, whereas Curaleaf is opening its first adult-use retailer in Newburgh, roughly 70 miles from New York Metropolis.

Close to The Barclays Middle In Downtown Brooklyn

The Journey Company is launching its second Brooklyn dispensary at 118-122 Flatbush Avenue, aiming to develop into the world’s prime dispensary. Initially opening as a 3,500-square-foot pop-up with 60 employees members, it plans to increase to 4,800 sq. toes, reported MarketWatch.

Market Progress And Challenges

Regardless of a sluggish begin, New York’s authorized hashish market is gaining momentum. Nevertheless, it faces competitors from quite a few unlicensed shops promoting unregulated merchandise. In its first 12 months (2023), New York’s authorized hashish market generated $150 million in gross sales, lower than Connecticut’s $274 million.

Governor Kathy Hochul is proposing legislative adjustments to deal with these points, together with a shift from a efficiency tax to a weight-based tax to reinforce competitiveness towards the unlicensed market.

Authorized Uncertainties

Brooklyn District Lawyer Eric Gonzalez is ceasing to prosecute circumstances of extreme hashish possession because of ambiguities within the regulation’s wording concerning how hashish ought to be weighed.

Picture: AI-Generated Picture. 

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