Curio Wellness Announces Passage of New Jersey Senate Bill 2875, Expanding Diverse Ownership Access for Entrepreneurs Entering the Medical Cannabis Market

Bill allows Curio to expand Investment Fund to the state, further support pathways to ownership for women, minority and disabled veteran operators

(November 3, 2021) Timonium, Md. Curio Wellness, a cGMP-certified, vertically integrated  medical cannabis company, announced the passage of New Jersey Senate Bill 2875 as signed  by Governor Phil Murphy. The bill, which was passed on October 18, 2021, revises restrictions  on ownership of medical cannabis alternative treatment centers and expands the scope of  review of alternative treatment center permit applications and related materials. 

Curio Wellness initiated the drafting and passage of the legislation, allowing the company to  bring its Curio Wellness Investment Fund (the Fund) to the Garden State, which will expand  medical cannabis dispensary licensees to diverse entrepreneurs entering the market. 

The legislation was sponsored and championed by Senator Troy Singleton in collaboration with  Curio Wellness.  

“The passing of this bill directly addresses the lack of access to startup capital and operational  resources that has resulted in insufficient diversity in ownership throughout the cannabis  industry here in New Jersey,” said State Senator Troy Singleton. “We’re excited about the  significant impact of this social equity program model and its ability to bring real economic  empowerment among groups that are typically overlooked by investors.” 

As stated in Governor Phil Murphy’s signing statement accompanying the legislation, “I applaud  the bill’s sponsors for seeking to address what can be a major impediment to some prospective  cannabis business owners: accessing the capital necessary to start and sustain their  businesses. This bill will not only enable investors to support multiple businesses, but will also  allow new entrepreneurs who have been historically underrepresented as business owners in  the nation’s regulated cannabis industries to receive capital, training, and assistance in running  a successful business.”

Announced in December 2020, the Curio Wellness Investment Fund aims to strengthen  diversity and inclusion across the cannabis industry. In addition to anyone from a qualified state  being able to apply to become a franchisee, the Fund also provides women, minorities and  disabled veterans the opportunity to apply for startup capital and operational infrastructure,  which sets these entrepreneurs on a three-year path to 100% ownership. The Fund’s goal is to  provide up to 50 eligible applicants with the capital needed to open and operate a Curio  Wellness franchise. 

“The passage of Senate Bill 2875 is a real game changer for Black and other businesses  seeking to participate equitably in the multi-billion-dollar medical cannabis industry,” said John  E. Harmon, Sr., President and CEO of the African American Chamber of Commerce of New  Jersey and former chairman of the National Black Chamber of Commerce. “Raising the requisite  amount of capital to participate in this growth industry has been a barrier for many whom  desired to take part. Thanks to the leadership of New Jersey legislature and Governor Murphy,  more New Jersey businesses will have access to the many opportunities available in the  medical cannabis industry.” 

Under the new legislation, the Fund can provide up to 92% of the required capital to open and  operate a Far & Dotter franchised dispensary to 7 licensees who qualify in New Jersey. 

“This has been a long but important effort to bring our fund opportunity to the state of New  Jersey through the passing of this bill,” said Jerel Registre, managing director of the Fund. “With  a new round of cannabis dispensary licensees soon to be awarded, we hope to showcase the  significance of the franchising opportunity and economic resources as a true testament to  Curio’s dedication to support aspiring and diverse entrepreneurs in the industry. Our hope is  that other states feel inspired to move forward on similar social equity provisions that create an  equitable cannabis licensing program.” 

Entrepreneurs interested in becoming a franchisee or applying for capital through the Curio  Wellness Investment Fund can apply at: www.franchise.fardotter.com

About Curio Wellness 

Founded in 2014 in Baltimore, Maryland, Curio Wellness is a cGMP certified, vertically  integrated medical cannabis company and trusted healthcare partner. Recognized as the  leading wellness brand in cannabis in Maryland by BDS Analytics, Curio is committed to serving  patients with targeted, effective, and reliable cannabis-based medicine. For more information  visit curiowellness.com. 

About Far & Dotter 

Far & Dotter is a trusted expert and ally in the quest for innovative holistic healthcare and a  personalized, unintimidating approach to cannabis education. We support consumers and  franchisees through a contemporary, curated dispensary experience that emphasizes cannabis  quality and pharmacist-led guidance. Our stores are holistic pharmacies and wellness hubs  devoted to empowering local entrepreneurs and providing safe, effective, reliable products and services that enhance quality of life. Far & Dotter was founded by the team at Curio Wellness, a  leading cannabis brand based in Maryland that established our proven, patient-first clinical  approach and our inclusive franchise model. For more information visit fardotter.com.

MEDIA CONTACT:

Katie Beecher 

Abel Communications for Curio Wellness 

716-480-6633 (cell) 

kbeecher@abelcommunications.com