A whole bunch of individuals in Arizona are spending $ 25,000 every to take part in a hashish licensing lottery

Nearly 400 hopeful cannabis entrepreneurs have raised $ 25,000 apiece to enter an upcoming business license lottery that will determine the winners of 13 new permits.

According to the Republic of Arizona, the US Department of Health received 377 competing applications for the 13 vertically integrated licenses as of Tuesday.

The permits are only available in eight rural counties: Apache, Cochise, Gila, Graham, Greenlee, La Paz, Santa Cruz, and Yuma.

It’s unclear when the licenses will be issued, but a health care spokesman told the republic that for counties with fewer than two pharmacies – Cochise, Graham and Yuma – the lottery will be held “sometime in April.”

Industry officials estimate that the rural licenses will be valued at at least $ 5 million. In contrast, permits in urban centers like Phoenix are worth closer to $ 20 million.

The state will issue an additional 26 licenses later this year under the social justice program enshrined in Proposition 207, last year’s voter-approved initiative to legalize adult marijuana in Arizona.

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