The Cannabis Control Commission in Massachusetts has approved the sale of New England Treatment Access marijuana company this week.
The state’s Cannabis Control Commission unanimously approved the sale of New England Treatment Access, NETA, and its marijuana shops in Northampton and Brookline on Thursday. They are being sold to a national operator called Surterra Wellness.
The Commission’s approval is contingent on a review of the finances of the buyer and its marketing and advertising plan.
Cannabis Control Commission Chairman Steven J. Hoffman stated, “You can never say with 100% certainty we uncovered everything. But I know we were diligent, we took our time with this.”
He added, “I take the affidavit seriously. I think people understand If they said something in an affidavit that caused us to approve a transaction and It turns out to be have been misleading they’re going to lose their license. So I have confidence in the affidavit, confidence in the process, we did a very diligent job here.”
The deal still needs approval from Brookline and there is a meeting set for Tuesday, June 18, according to NETA.
“We’re feeling great, this is a big important step in this process for us,” remarked Amanda Rositano, director of operational compliance for NETA.
“One hundred percent compliance is NETA’s number one priority. In addition to taking care of our patients, we take compliance very very seriously, we have very detailed compliance programs and we are very confident we won’t have any of the issues we had to disclose on the Surterra application,” she said. “Honestly, it’s business as usual here in Massachusetts, the same leadership that’s going to be operating, same operations, not much is going to look different right here in Mass.”
“We are thrilled to partner with NETA to expand health and wellness offerings to patients and customers in Massachusetts, which is anticipated to be one of the U.S.’s most rapidly growing markets. With operations combined across four states, Surterra is positioned to grow tenfold in 2019 and realize significant profitability,” said Surterra CEO William “Beau” Wrigley, Jr. about the sale earlier this year.
He added, “Since 2009, NETA’s founders have been recognized as pioneers and innovators in the cannabis industry. Their wide range of premium products, extraordinary service, diversity programs and strong community partnerships set them apart. Importantly, the acquisition of NETA was founded on our aligned set of values and reputable track records.”