PRESS RELEASE: THEORY WELLNESS BEGINS ROUND TWO OF ITS SOCIAL EQUITY PROGRAM SUPPORTING EMERGING CANNABIS ENTREPRENEURS
Following a successful inaugural program with Legal Greens dispensary in Brockton, MA, Theory begins another search for the next generation of social equity cannabis entrepreneurs
Theory Wellness Begins Round Two of Its Social Equity Program Supporting Emerging Cannabis Entrepreneurs
STONEHAM, Mass., December 15, 2022 (Newswire.com) – Theory Wellness (“Theory” or “the Company”) has announced its search for the next wave of cannabis entrepreneurs in Massachusetts. Through its website, the company has begun collecting submissions from prospective social equity or economic empowerment candidates to become the next sponsorship recipient. The Cannabis Control Commission certifies the status of social equity or economic empowerment to those disproportionately impacted by high rates of arrest and incarceration for cannabis-related crimes due to previous state and federal drug policies.
The company’s inaugural recipient was Vanessa Jean-Baptiste of Legal Greens, a dispensary located in Brockton, Massachusetts. Legal Greens opened in March 2021 as the first black-woman-owned recreational cannabis dispensary on the East Coast following a three-year journey. The first-generation Haitian-American-led team was the recipient of the sponsorship, which included $250,000 to the applicant in the form of $100,000 in zero-interest financing and $150,000 worth of startup cannabis inventory on consignment. Theory also supported in key areas where cannabis operations can struggle, including banking, insurance, licensing, and marketing.
“The team at Theory helped pave the way for us to get our doors open. Through every step in the process, we could rely on them for support in a range of areas that most cannabis brands struggle through,” shares Vanessa Jean-Baptiste, President and founder. Brandon Pollock, CEO and co-founder of Theory, pointed out, “Cannabis financing is harder today than it’s ever been given the current market landscape and economic headwinds. After a terrific first round of the program, we’re doing it again to show how the private sector can further support a diverse cannabis market.”
The Company is soliciting interest on its website, while a formal application will be dispersed in early 2023. Any license type in Massachusetts is welcome to apply, including delivery and prospective consumption lounges. The first round of the application process will be reviewed by a diverse range of Theory employees from retail to production. The program remains a “no strings attached” support program; Theory does not take any equity stake in the applicant or require the applicant to sign any management or inventory purchasing contracts.
About Theory Wellness:
Theory Wellness is an East Coast medical and recreational cannabis brand; we cultivate cannabis, operate extraction labs, manufacture infused marijuana products, and proudly serve patients and customers at our marijuana dispensaries in Massachusetts and Maine.
Our focus is on small batch, craft cannabis that we cultivate using sustainable techniques on our outdoor cannabis farm and at our state-of-the-art indoor gardens. We run unique genetics to develop in-house premium products that include flower, concentrates, edibles, and an array of infusions for medical and recreational consumers in New England.
Throughout our work, we remain committed to expanding the science of cannabis, and creating the future we want to see in the emerging marijuana industry through social justice, sustainability, and research.
If you’re thinking to yourself, where is the nearest recreational dispensary near me or medical marijuana dispensary near me, look no further. Theory Wellness operates medical and recreational cannabis dispensaries in Maine and Massachusetts that offer various cannabis products to meet your needs. If you are looking for our Maine recreational marijuana dispensary locations, click here. If you are looking for Massachusetts marijuana dispensary locations, click here.
To learn more about our operations, follow-us on Instagram @TheoryWellness.