Three Retail Cannabis Businesses Awarded Licenses In Red Bank

RED BANK, NJ — The Borough Council has awarded retail licenses to three cannabis establishments.

The Class 5 licenses are effective immediately and don't expire until Dec. 31, 2024, according to the resolutions approved by the council Thursday night.

The borough’s Revised General Ordinances provide that a maximum of one Class 1, one Class 2, one Class 3, one Class 4, one Class 6, and three Class 5 licenses may be issued by the Borough to prospective cannabis businesses, according to the resolutions.

According to the state Cannabis Regulatory Commission, the classes of cannabis businesses are:

• Class 1 Cultivator
• Class 2 Manufacturer
• Class 3 Wholesaler
• Class 4 Distributor
• Class 5 Retailer
• Class 6 Delivery Service
• Testing Laboratory

The three businesses granted the Class 5 retail licenses are:

• Canopy Crossroads, 9 West St.
• The Frosted Nug, 20 N. Bridge Ave.
• Monteverde NJ, Inc., 45 N. Bridge Ave.

There are still one cultivation, manufacturing, and distribution licenses available, Shawna Ebanks, Red Bank director of Community development, confirmed Monday.

In addition to the local licenses, the businesses still must obtain state approvals to operate.

The borough this spring passed ordinances regulating cannabis business development in borough.

One ordinance set up the procedure for applying for a municipal cannabis license. This ordinance called for the formation of a Cannabis Review Board within the borough, which now is in effect. A second ordinance pertained to where cannabis businesses are allowed.

The Cannabis Review Board recommended the approvals to the Borough Council.

In 2021, Gov. Murphy signed into law the New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act, which legalized the recreational use of cannabis by adults 21 years of age or older, and established regulatory and licensing rules for commercial recreational cannabis operations.