The following content is excerpted from the Prospectus of Tidal Royalty Corp. dated January 29, 2018 filed on SEDAR.
Arizona Marijuana Industry Overview
Arizona has a medical marijuana program and voted on, but failed to pass, an adult-use marijuana ballot measure on
November 8, 2016. In 2010, Arizona voters approved the "Arizona Medical Marijuana Act" (Proposition 203). The
law created a regulated system for a limited number of non-profit medical marijuana dispensaries and permits, but
does not require, these dispensary businesses to be vertically integrated. Dispensaries may cultivate medical
marijuana and produce manufactured marijuana products without obtaining a new license if they receive the
required inspections and registrations. On April 11, 2012, the Arizona Department of Health Services ("ADHS"),
which oversees the medical marijuana program, announced revised rules and set the application dates for medical
marijuana dispensaries. On November 15, 2012, the first dispensary certificate was awarded and by the end of 2012
a small number medical marijuana dispensaries started to open. The Arizona Department of Health Services has
issued 99 dispensary registration certificates as of January 16th, 2016.
Arizona limits the total number of non-profit medical marijuana dispensary registration certificates to no more than
one for every Community Health Analysis Area ("CHAA"), with a maximum of 130 total dispensary registrations.
The application for a dispensary registration certificate is not competitive; however, if more than one application is
received per CHAA, applications will be evaluated based on specific criteria. Applications are accepted on a
limited basis based on geographic need and CHAAs without a current dispensary. Residency is not required to own
or operate a medical marijuana dispensary in Arizona. The medical marijuana law includes a wide range of
qualifying conditions that include chronic pain and nausea, resulting in greater patient access and a larger potential
market. In 2015, Arizona medical marijuana businesses sold 38,411 pounds of medical marijuana to patients in the
state.
Summary by States
Arizona State Summary >>
California State Summary >>
Colorado State Summary >>
Florida State Summary >>
Puerto Rico State Summary >>
Oregon State Summary >>
Washington State Summary >>
Nevada State Summary >>
