NEVADA MARKET INFORMATION
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NEVADA MARKET INFORMATION
For 10 days during August, 2014, the Division accepted 519 applications for medical marijuana establishments. In November, 2014, 372 provisional certificates were issued. Starting in early 2015 and continuing into 2016, these establishments will open for business. It is unknown if or when the next filing period will take place.
Medical Marijuana Establishments with Final Certificates as of May 10, 2017:
|North Las Vegas||4||21||16||0|
Timeline Milestones for Cannabis Businesses in Nevada:*
*Rapid Regulatory changes are common in the Cannabis Industry, and will affect these timelines as the Recreational Industry matures and settles within the legal frameworks and respective communities within the State of Nevada.
May 1, 2017– State deadline to make a sale and qualify to make recreational sales on July 1, 2017.
State stops issuing temporary recreational licenses to medical establishments.
October 1, 2017– State reopens recreational applications to Medical Dispensaries that made a sale after May 1, 2017.
December 21, 2017– State will be closed and no sales will be recorded to save preexisting applications (300 remaining undeveloped licenses). September 2017 published the new deadline as June 2018 for pre existing applications.
January 1, 2018– State makes first temporary recreational business permanent. State issues temporary recreational certificates to pre existing medical establishments from the second half of 2017.
April 2018– State makes decision on temporary recreational licenses to become permanent.
June 2018– New Department of Taxation deadline for perfecting pre existing and open applications for Certification.
July 1, 2018– Final temporary recreational licenses issued; temporary and permanent.
October, 2018– State does evaluation of the cannabis market to determine if new certificate applications should be issued, or if the demand is being met, and no further applications will be issued.
January, 2019– If the State determines the demand to be insufficient, new applications will be taken during the first quarter of the year, with decisions being made by april, and issuances being made active by July 1, 2019.
Open Dispensaries List
Northern Nevada Certified Medical Marijuana Dispensaries As of May 10, 2017
- Blüm 1085 South Virginia Street Reno, NV 89502 www.letsblum.com
- Greenleaf Wellness 1730 Glendale Avenue Sparks, NV http://www.greenleafwellness.com/
- Kanna 5398 Sun Valley Boulevard Sun Valley, NV 89433 www.kannareno.com
- MM R&D 510 W. Williams Ave. Fallon, NV 89406 http://thegreencrossfarmacy.com/
- Mynt Cannabis Dispensary 132 E. 2nd St. Reno, NV 89501 http://www.kynd.com/strains/
- NuLeaf Incline Dispensary 877 Tahoe Blvd. Incline Village, NV http://www.nuleafnv.com/tahoe
- Reef 195 East Glendale Avenue, Suite #3 Sparks, NV 89431 www.reefdispensaries.com
- Reef 5105 Sun Valley Boulevard, Building B, Sun Valley, NV www.reefdispensaries.com
- Rise 135 Clearview Drive #119 Carson City, NV http://www.risedispensaries.com/
- Sierra Wellness Connection 1605 East 2nd Street, Suite 103 Reno, NV 89502 www.sierrawellnessconnection.com
- Sierra Wellness Connection 2765 Highway 50 East, #A Carson City, NV 89701 www.sierrawellnessconnection.com
- Silver State Relief 175 East Greg Street Sparks, NV http://www.silverstaterelief.com
- The Dispensary NV 100 West Plumb Lane Reno, NV http://www.thedispensarynv.com/
Southern Nevada Certified Medical Marijuana Dispensaries
- Acres Medical 2320 Western Avenue Las Vegas, NV 89102 http://acrescannabis.com/
- Apothecarium 7885 West Sahara Avenue Las Vegas, NV 89117 www.apothecariumlv.com
- Apothecary Shoppe 4240 West Flamingo Road, #100 Las Vegas, NV 89103 www.theapothecaryshoppe.com
- Blackjack Collective 1860 Western Avenue Las Vegas, NV 89102 www.blackjackcollective.com
- Blüm 1921 Western Avenue Las Vegas, NV 89102 www.letsblum.com
- Blüm 3650 South Decatur Boulevard Las Vegas, NV 89103 www.letsblum.com
- Blüm 1130 East Desert Inn Road Las Vegas, NV 89139 www.letsblum.com
- CannaCopia 6332 South Rainbow Boulevard Las Vegas, NV 89119 www.cannacopialv.com
- Canopi 1324 S. 3rd St. Las Vegas, NV 89104 N/A
- Canopi 2113 N. Las Vegas Blvd. North Las Vegas, NV 89030 N/A
- Deep Roots Medical 195 Willis Canyon Carrier Mesquite, NV 80934 www.deeprootsharvest.com
- Downtown Dispensary 823 South Third Street Las Vegas, NV 89101 www.jennysdispensary.com
- Essence 5765 West Tropicana Avenue Las Vegas, NV 89103 www.essencevegas.com
- Essence 4300 East Sunset Road Ste. A-3 Henderson, NV 89014 www.essencevegas.com
- Essence 2307 South Las Vegas Boulevard Las Vegas, NV 89104 www.essencevegas.com
- Euphoria Wellness 7780 South Jones Boulevard Las Vegas, NV 89139 www.euphoriawellnessnv.com
- Inyo Fine Cannabis Dispensary 2520 South Maryland Parkway, #2 Las Vegas, NV 89109 www.inyolasvegas.com
- Jardín Premium Cannabis Dispensary 2900 East Desert Inn Road Las Vegas, NV 89121 www.jardincannabis.com
- Jenny’s Dispensary 5530 North Decatur Boulevard North Las Vegas, NV 89130 www.jennysdispensary.com
- Jenny’s Dispensary 10420 South Eastern Avenue Henderson, NV 89052 www.jennysdispensary.com
- Just Quality 4235 Arctic Spring Avenue Las Vegas, NV N/A Las Vegas
- Releaf 2244 Paradise Road Las Vegas, NV 89104 www.lasvegasreleaf.com
- Medizin 4850 West Sunset Road Las Vegas, NV 89118 www.medizinlv.com
- Naturex 9120 W. Post Road Las Vegas, NV N/A
- Nevada Holistic Medicine 5630 Stephanie Street Las Vegas, NV 89118 N/A
- Nevada Medical Marijuana 1975 South Casino Drive Laughlin, NV 89029 www.nevadamedicalmarijuana.com
- Nevada Medical Marijuana 3195 St. Rose Parkway, Suite 212 Henderson, NV 89052 www.nevadamedicalmarijuana.com
- Nevada Wellness Center 3200 South Valley View Boulevard Las Vegas, NV 89102 www.nvwellnessctr.com
- NuLeaf Clark Dispensary 430 East Twain Avenue Las Vegas, NV 89169 www.nuleafnv.com
- Oasis Medical Cannabis 1800 Industrial Road Las Vegas, Suite 102, NV 89147 www.theoasisdispensary.com
- Piso’s 4110 South Maryland Parkway Las Vegas, NV 89119 www.pisoslv.com
- Reef 3400 Western Avenue Las Vegas, NV 89109 www.reefdispensaries.com
- Reef 1366 West Cheyenne Avenue North Las Vegas, NV 89030 www.reefdispensaries.com
- Sahara Wellness 420 East Sahara Avenue Las Vegas, NV 89104 www.420sahara.com
- Shango 4380 Boulder Highway Las Vegas, NV 89121 www.nevadapure.com
- ShowGrow Las Vegas 4850 South Fort Apache Road Las Vegas, NV 89147 www.showgrow.com
- Silver Sage Wellness 4626 W. Charleston Boulevard Las Vegas, NV 89102 www.sswlv.com
- The Clinic Nevada 4310 West Flamingo Road Las Vegas, NV 89103 www.theclinicnevada.com
- The Dispensary NV 5347 South Decatur Boulevard Las Vegas, NV 89118 www.thedispensarynv.com
- The Dispensary NV 50 North Gibson Road Henderson, NV 89014 www.thedispensarynv.com
- The Greenhouse 6540 Blue Diamond Road Las Vegas, NV 89139 N/A
- The Grove 4647 Swenson Street Las Vegas, NV 89119 www.thegrovenv.com
- The Grove 1541 East Basin Avenue Pahrump, NV 89060 www.thegrovenv.com
- The Source 6877 West Sahara Avenue Las Vegas, NV 89146 www.thesourcenv.com
- The Source 9480 South Eastern Avenue Henderson, NV 89123 www.thesourcenv.com
- Thrive Cannabis Marketplace 1112 South Commerce Street Las Vegas, NV 89102 www.thrivenevada.com
- Thrive Cannabis Marketplace 2755 West Cheyenne Avenue North Las Vegas, NV 89032 www.thrivenevada.com
Certificates were awarded for Marijuana Cultivation, Production, and Dispensaries. There were 520 applicants as of 2015; the last time period that the Department of Behavior and Human Health of Nevada accepted new applicants. As of July 2017, less than 200 were “perfect;” meaning, their status went from application to Certification.
Originally, there was a deadline to perfect all applications by December 31, 2017, but due to liability issues, the State issued an extension on application perfections until June 2018. This is likely to continue to be extended.
The Docusign process includes Criminal Background, Financials, a State Business License, a Special Use Permit for the location, a County or Municipal Business License, and a Municipal Business or County Business License in any additional zoning that your facility will deliver TO.
For example: If you get an order in the City of Las Vegas, since you are based out of North Las Vegas, you need both the North Las Vegas Business License and the City of Las Vegas Business license.
City Business License Costs for RECREATIONAL:
North Las Vegas- $10,000.00
City of Las Vegas- $30,000.00
Renewal Fee for MEDICAL Cultivator:
Medical Cultivator Certificate Applicants must make a taxable sale in order to perfect the Certificate. Once the Medical is perfected, you may then make a sale to Recreational and receive your provisional Recreational Certificate. Everyone applying for Recreational must wait 6 months for the “provisional” status to mature to full Certification. You will operate the same, regardless of provisional status or full certification; the only reason for this is for the State to pull the Certificates of bad actors before becoming Bona Fide with the State (where legal recourse becomes a bigger risk for the State).
A Pod is a Cultivation unit in a shipping container, used to perfect cultivators like those in a time crunch for State compliance; potential assets that need a taxable sale. The POD allows them to bypass the long timelines of doing a full build out right away.
Cultivators can grow a canopy size equal to the size of the real estate attached to the Certificate; a 20,000 sq ft building = 20,000 sq ft canopy limit. You can go vertical above the 20,000 sq ft with a mezzanine system.
Cultivators can make flower and pre rolls (uninfused pre rolls).
Cultivators can make a sale to another Cultivator, a Production Facility (infusion beyond pre rolls), and Retail/Dispensaries.
Sales to Retail and Medical require a transportation license holder to manifest and transport.
Current Seed to Sale that is accepted by the State: MJ Freeway (current and going away), Biotrak (final software to be used).
Valuation of an Application, or any Cannabis business.
A recently sold Medical Cultivator in Unincorporated Clark County (5 m minutes to Las Vegas Strip; 5 minutes to McCarran Airport) with 10,000 sq ft Canopy went for $1.5 million. The grow had make a taxable sale, but did not have a full build out. They did not get the Recreational license before they sold the license. The Buyer bought the license for $1.5 million and the Building for $1.5 million. The sale was made before the Recreational market opened on July 1, 2017.
This is the closest Asset to an application that has been transacted in the Clark County Marijuana Market and can be analyzed for Valuation purposes. Precedence and previous transactions of similar profiled assets are the best way to establish a valuation in the Cannabis market.
NEVADA MEDICAL MARKET OVERVIEW
Nevada Constitution, Article 4, Section 38. Use of plant of genus Cannabis for medical purposes. Codified in NRS Chapter 453A, Medical Use of Marijuana.
- Nevada Legislature passed medical marijuana legislation in 2001 with amendments in the 2003, 2005 and 2009 sessions.
- Has been administered by both the Health Division and the Department of Agriculture but is currently operated by the Health Division. The program moved to the Health Division in 2006.
- The 2001/2005 regulations adopted by Agriculture and 2003 regulations adopted by the Board of Health remain in effect.
NEVADA RECREATIONAL MARKET
Establishes requirements relating to marijuana; establishes procedures for the issuance, suspension or revocation of licenses issued by the Department of Taxation relating to the regulation and taxation of marijuana pursuant to NRS 453D; and provides other matters properly relating thereto.
Permanent regulations will govern the adult-use marijuana program in early 2018. The Department held public workshops on the first draft of proposed permanent regulations in July 2017. The Department then revised the draft based on public comment. The revised draft was submitted to the Legislative Counsel Bureau in September 2017. Before the regulations become effective, they must be adopted in a public hearing by the Nevada Tax Commission and approved by the Legislative Commission.
Revised Draft Submitted to LCB
First Draft – Workshops Held July 2017
- Chapter 453D Definitions
- Proposed Regulation: Registration of Marijuana Establishments and Marijuana Establishment Agents
- Proposed Regulation: Requirements Concerning Operation of Marijuana Establishments
- Proposed Regulation: Disposal of Marijuana Products and Waste
- Proposed Regulation: Requirements Concerning Operations of Marijuana Transportation
- Proposed Regulation: Requirements Concerning Operation of Retail Marijuana Stores
- Proposed Regulation: Requirements Concerning Operation of Cultivation Facilities
- Proposed Regulation: Standards for Cultivation and Preparation of Marijuana and Marijuana Products
- Proposed Regulation: Requirements for Marijuana Testing Facilities
- Proposed Regulation: Requirements for the Production of Marijuana Products
- Proposed Regulation: Production Forms, Packaging and Labeling of Marijuana and Marijuana Products
July Workshops Agendas, Minutes, Audio Recordings
- July 24 – Application and Licensing Requirements & Education and Training Agenda
- July 24 – Application and Licensing Requirements & Education and Training Minutes
- July 24 – Application and Licensing Requirements & Education and Training Audio Recording
- July 24 – Civil Penalties, Security, Disposal, Taxes Agenda
- July 24 – Civil Penalties, Security, Disposal, Taxes Minutes
- July 24 – Civil Penalties, Security, Disposal, Taxes Audio Recording
- July 25 – Distribution, Delivery, and Storage Agenda
- July 25 – Distribution, Delivery, and Storage Minutes
- July 25 – Distribution, Delivery, and Storage Audio Recording
- July 25 – Retail Stores Agenda
- July 25 – Retail Stores Minutes
- July 25 – Retail Stores Audio Recording
- July 26 – Cultivation Facilities Agenda
- July 26 – Cultivation Facilities Minutes
- July 26 – Cultivation Facilities Audio Recording
- July 26 – Testing Facilities Agenda
- July 26 – Testing Facilities Minutes
- July 26 – Testing Facilities Audio Recording
- July 27 – Product Manufacturing Facilities Agenda
- July 27 – Product Manufacturing Facilities Minutes
- July 27 – Product Manufacturing Facilities Audio Recording
- July 27 – Packaging and Labeling & Signage, Marketing, and Advertising Agenda
- July 27 – Packaging and Labeling & Signage, Marketing, and Advertising Minutes
- July 27 – Packaging and Labeling & Signage, Marketing, and Advertising Audio File 1
- July 27 – Packaging and Labeling & Signage, Marketing, and Advertising Audio File 2
- July 27 – Packaging and Labeling & Signage, Marketing, and Advertising Audio File 3
July Workshops Public Comment
- Nevada Cannabis Coalition – 1
- Nevada Cannabis Coalition – 2
- Nevada Dispensary Association – 1
- Nevada Dispensary Association – 2
- Nevada Dispensary Association – 3
- Washoe County – 1
- Washoe County – 2
- Washoe County – 3
- AS ADOPTED – Marijuana Distributors
- Agenda for Marijuana Distribution Sufficiency Meeting – 08/10/2017
- Audio Recording 1 of Marijuana Distribution Sufficiency Meeting – 08/10/2017
- Audio Recording 2 of Marijuana Distribution Sufficiency Meeting – 08/10/2017
- Retail Marijuana Distributor Insufficiency Determination – 08/15/2017
Packaging and Labeling
- AS ADOPTED – Final Draft Proposed Temporary Regulation T002-17 – Revised May 5
- Filed with Secretary of State and Legislative Counsel Bureau
- Final Draft Proposed Temporary Regulation T002-17 – Revised May 2
- Final Draft Proposed Temporary Regulation T002-17
- Small Business Impact Statement for T002-17
- LCB Draft Proposed Temporary Regulation T002-17
- Small Business Impact Questionnaire
Fair Market Value at Wholesale
- Notice of Hearing for the Adoption of LCB File No. T002-17
- Audio Recording 1 (full meeting of the Nevada Tax Commission)
- Audio Recording 2 (full meeting of the Nevada Tax Commission)
- Audio Recording 3 (full meeting of the Nevada Tax Commission)
- Audio Recording 4 (full meeting of the Nevada Tax Commission)