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STONEHAM, Massachusetts (NEWS10) — Theory Wellness has announced it will search for the next wave of cannabis entrepreneurs in Massachusetts. Through its website, the company began collecting submissions from future social equity or economic empowerment candidates, becoming recipients of its next sponsorship.
The Cannabis Control Board seeks to promote social equity or economic empowerment to those who have been disproportionately affected by previous state and federal drug policies and high arrest and incarceration rates for cannabis-related offenses. Prove your status.
The company’s first recipient was Vanessa Jean-Baptiste of Legal Greens, a clinic in Brockton, Massachusetts. Legal Greens will open in March 2021 as the first Black woman-owned recreational cannabis dispensary on the East Coast following her three-year journey.
A team led by a first generation Haitian American received a scholarship. This included his $250,000 to applicants, his $100,000 in interest-free loans, and the equivalent of $150,000 in startup cannabis inventory entrusted. The theory is also supported in key areas where cannabis businesses can struggle, including banking, insurance, licensing and marketing.
“The team at Theory helped pave the way for us to open our doors.
We could count on them for support in the process, the different areas most cannabis brands
We will survive the struggle,” said President and Founder Vanessa Jean-Baptiste. Brandon Pollock, CEO
& Theory co-founder points out:
Given the current market conditions and economic headwinds.after a great first round
How diverse is the private sector?
cannabis market. “
The company is soliciting interest on its website, and formal applications are expected to be distributed in early 2023. You can apply for any kind of Massachusetts license. This includes delivery and future consumption lounges.
The first round of the application process is reviewed by various Theory employees from retail to production. This program remains an “unconditional” support program. Theory does not acquire shares of applicants or require applicants to sign any management or stock purchase agreements.
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