June 5, 2023 - Updated June 5, 2023
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New Jersey regulators revoked marijuana cultivation and manufacturing licenses from an operator in the state over unpaid fees.
According to NJBiz, the New Jersey Cannabis Regulatory Commission (CRC) voted 5-0 to revoke Harmony Foundation’s growing and manufacturing licenses because the company owes the state $700,000 in licensing fees.
The company, which operates the only adult-use dispensary in Hudson County, made a $100,000 payment toward its Class 5 retail license but has not paid for its Class 1 cultivation and Class 2 manufacturing permits, the business publication reported.
As part of the June 1 decision, Harmony can still sell recreational cannabis at its store in Secaucus but is required to purchase supply from other growers in the state.
Harmony CEO Shaya Brodchandel was surprised by the decision.
“If we had been notified that this action was being considered, we would have gladly explained that we are in complete compliance with the Feb. 15 agreement we reached with the CRC in terms of paying our license fees,” he told NJBIZ.
“The rash decision that was taken is an alarming wake up call to the New Jersey entrepreneurs that are seeking to work within the confines established by state regulators to further grow the cannabis industry.”