Navigating the Complex World of Cannabis Licensing
This is Katrina Lucas from northeast Oklahoma. I am a Tulsa cannabis business attorney here at Wirth Law Office.
Cannabis is a difficult market, and it’s hard to get into. A lot of people have questions about how to get a license to operate a medical marijuana business.
Acquiring a License
The answer to that question is complicated. We have to find a license that’s for sale—and they do come up for sale. You will have to buy that license. We will then need to perform due diligence on that license to find out if it has had any issues with OMMA or is facing suspensions or problems with OB&DD. Those are issues you need to know about before making an offer to buy that asset from a business.
You typically have to buy the entirety of the business in order to acquire an OMMA license. You cannot go and get a new OMMA license directly from the State of Oklahoma. We currently have a moratorium, and that moratorium has been in effect for several years.
Taking the Next Steps
There is no other way to open a medical marijuana business except to buy an existing license and transfer it to your name.
Call me here at Wirth Law Office at (918) 932-2879. I look forward to hearing from you about your cannabis business and helping you find and secure a license to get started.
Consultation are Available
This is Katrina Lucas, a Tulsa OMMA compliance attorney with Wirth Law Office in Tulsa, Oklahoma. Stay safe, stay legal.