Acreage Holdings Inc (ACRDF)

[sam1933]

Cannabis May Become Legal In New York With Gov. Cuomo's 'Equitable Adult-Use Program' Proposal

Gov. Andrew Cuomo announced Wednesday his proposal for a legal cannabis program across New York State.

The plan calls for a new Office of Cannabis Management. This group would oversee a nascent recreational program as well as New York's current medical marijuana program.

The proposal, according to the Governor's press office, would allow adults over the age of 21 to buy marijuana at state-approved dispensaries.

The goal is to generate roughly $300 million in tax revenue from the legalization effort and bolster state coffers, which took a hit due to the effects of the COVID-19 pandemic.

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Acreage Holdings (OTCQX: ACRDF), which is based in New York and has four brands under its umbrella, including the Botanist, Prime, Natural Wonder and Live Resin Project.