Investor Presentaiton

The Rhode Island Cannabis Act Domain Licensing Governance Possession and Sales Key Provisions Facilitates the transition of existing MMP compassion centers into hybrid adult-use status effective 12/1/22. 9 total (7 are licensed currently). 24 additional retail licenses distributed equally across 6 MMP regulatory zones; two licenses in each zones reserved for "social equity applicants" and worker-owned cooperatives, respectively. This will bring the total number of retail outlets in RI to 33 (9 hybrid/MMP + 24 new AU retail). Leaves methodology of license allocation to the Commission rules/reg Two-year moratorium on issuance of new cultivation/manufacturing licenses pending a market demand study by Commission. Introduces a new, three-member Cannabis Control Commission, as well as a Cannabis Office Administrator, to assume responsibility for regulation of adult-use and medical marijuana program. Transition from DBR/OCR to CCC triggered by the conclusion of formal adult-use rulemaking by CCC. During pendency of adult-use rulemaking, DBR/OCR maintains regulatory authority under "hybrid/transitional" authority spelled out in the Act. Creates a 19-member Cannabis Advisory Board made up of government and non-government stakeholders to advise Commission on policy/regulatory considerations (esp. parameters of social equity licensing and programming); programmatic expenditures associated with cannabis tax revenues; and to make recommendations generally, on the use, commerce, regulation, and effects of adult-use and medical marijuana in Rhode Island. Legalizes the possession of cannabis for adults 21 and over (1oz or equivalent on person; 10oz or equivalent in a residence). Provides for the sale of cannabis and cannabis products at MMP compassion centers approved for hybrid status by OCR; maximum of 1oz or equivalent per transaction. Permits personal recreational home-grow (three mature and three immature plants at a place of residence). RHODE 16 ISLAND

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