Notable Players

A Deeper Look At This State

Regulatory Framework

Governor John Carney (D) signed a bill in mid-June 2021 to let nurse practitioners and physician assistants recommend medical cannabis - signaling a potential boon to the MMJ population in the state.

Delaware lawmaker Rep. Ed Osienski (D) filed newly revised HB 305 in January 2022 with several changes from a previous version that passed a House committee but stalled ahead of a scheduled floor vote amid disagreements about equity provisions. The bill would allow adults 21 and older to purchase and possess up to one ounce of cannabis, but not provide a home-grow option.

Notable Market Activity

There is no notable activity at this time.

What's the Play?

Delaware is shaping up to be a prime acquisition market thanks to its middle-of-the-road population density and proximity to neighboring states with a large MSO presence. With a profitable revenue-to-license ratio and Columbia Care already building a presence, other MSOs will likely take action when they have excess resources to focus beyond their core strategic states.

Investors don't have much of a play here unless and until the state releases additional licenses.

Market Snapshot

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

594/273

By The Numbers

Population

~3.6MM

21+ Population

~0.6MM

Annual Tourists

~
10
MM

Medicinal Legalization

2011

Adult-Use Legalization

N/A

First Adult-Use Sales

N/A

MMJ Patients

~20K

Monthly Revenue

~$5MM

Cultivation Cap

No Limit*

Cultivation Licenses

4/No Limit (Operational/Limit)

Retail Licenses

7/No Limit (Operational/Limit)

Retail License Cap per Operator

No Limit

Vertical Integration

Required

Delivery

Allowed

MMJ Qualifications

Less Restrictive

Adult Population/ # Retail Licenses

~85.7K

Accepts Out of State MMJ

No

MMJ Patients / # Retail Licenses

~3K

*Cultivators can only grow a sufficient amount for patient counts.

Top Cultivators

Notable Market Activity

Quick sentance is needed or wanted

Quick sentance is needed or wanted

Quick sentance is needed or wanted

Proprietary Sharp Capital Advisors data - compiled using various sources including state and local government data

Have questions? Reach out to the team

Co-Founder & CEO
Chicago
Managing Director
Los Angeles
Head of Debt Capital Markets
Chicago
Shit We Don't Know

Have a tip about this state? Let us know!