Alaska cannabis board hands out first retail licenses.
With a round of applause from those in attendance, the Alaska Marijuana Control Board met to hand out the state's first retail cannabis license to the owners of Frozen Budz in Fairbanks. Nick and Destiny Neade were awarded the license after their application was reviewed and unanimously approved in a two-day meeting in Anchorage. Alaskans voted to approve cannabis for recreational use in 2014 and since then, regulators have been working to create rules and regulations for the state's burgeoning cannabis industry.
"Now all I need is some herb”, Destiny told the audience after receiving the license. "I'm really excited because I really need to start making some money." Neade and her husband Nick have already invested more than $150,000 into the business. The couple will be initially looking to growers who have already been licensed in the state to obtain product for their retail outlet.
In addition to the retail license, the couple also obtained approval for a product manufacturing facility after the company's roughly 40 or so proposed products were found to be compliant with state regulations. Under the license, Frozen Budz will be manufacturing a variety of edible products including medicated ice cream, granola bars, banana bread, brownies, and various types others like truffles and caramels. The Neades are aiming at opening Frozen Budz on October 1.
Frozen Budz's retail cannabis permit is the first to be approved out of 16 initial applications under review by the Marijuana Control Board. The second permit was awarded to Enlighten Alaska which is planned to open in Anchorage. A number of permits related to cultivation and manufacturing were also handed out.