[#item_full_content] Virginia’s adult-use market opens to applications on February 1, 2027. The Virginia Cannabis Control Authority will begin issuing licenses on May 1, 2027, with a share of those early licenses reserved for impact licensees. Most impact licensees will need outside money to build out operations. Virginia’s limits on ownership and transfers and its undefined “control” standard make it harder to raise capital. 
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Investing in a Virginia Impact Licensee: Cannabis M&A and Financing Nuances for Social Equity Deals in the Commonwealth: Vicente LLP
ByPot Shop News
October 27, 2026