The Cannabis Compliance Board approved a package of licensing and ownership changes, a conditional retail-attached consumption-lounge license and a proposed security interest during its Oct. 16, 2025, monthly meeting.

Board members voted to approve a conditional retail-attached consumption lounge application from TRNVP098 LLC (application ACONA220076). If the conditional license remains approved, the applicant must still complete required local approvals and pass a final CCB inspection before opening.

The board reviewed and approved multiple transfers of interest (TOIs) for existing Nevada cannabis licensees. Staff presentations for the TOIs frequently noted complex ownership histories and, in two cases, “areas of interest” developed during investigations related to past unapproved transfers and tax obligations. For several TOIs, applicants requested and the board granted limited waivers to NCCR 5.11 (pursuant to 5.112) for future transfers of less than 5 percent, with the board conditioning those waivers to expire on the next TOI agenda date.

Polaris Wellness Center LLC asked the board to approve a proposed security interest held by SVJ 1 LLC that is tied to a licensing and rights-to-use agreement for noncannabis branded products. The board approved the proposed security agreement; staff emphasized there is no security interest in cannabis products or the cannabis establishment license itself.

Votes at a glance

- Consent agenda (items 1–20): Approved (motion by Member Barry; second recorded). No roll-call tally given in the record.
- Approval of minutes, Sept. 18, 2025: Approved (motion by Member Mazurana; second recorded).
- Item 4(a) — Conditional license, retail-attached consumption lounge, TRNVP098 LLC (ACONA220076): Motion to approve moved by Member Durrett; second by Member Berry; outcome approved.
- Item 5(a) — TOI YMI Ventures LLC (TOI #2400054): Motion to approve allowing Opco LLC to sell partial ownership and to add David Carter as a 24% member; motion moved by Member Berry; second by Member Merritt; outcome approved. Staff noted an area of interest involving earlier unapproved transfers by Stem Holdings but said many transfers occurred before CCB existed.
- Item 5(b) — TOI DED Hops NV LLC (TOI #2500011): Motion to approve a 32.5% transfer to BDLV Investments 2 LLC and to grant a limited NCCR 5.11 waiver (to expire at the next TOI agenda): Motion moved by Member Barry; second by Member Merritt; outcome approved.
- Item 5(c) — TOIs by Conjurium/Congerium entities (TOI #2500001213 and related TOIs) including purchase of dispensary RD636 from Polaris Wellness Center LLC: Motion moved and second recorded; outcome approved. Staff noted an area of interest because Rombau Real Estate completed an unapproved TOI in 2019 and owes the Nevada Department of Taxation nearly $1,200,000 in unpaid wholesale cannabis tax; staff said the TOI and tax issue were not considered areas of concern because the transfers occurred before the CCB’s creation and Rombau will be exiting the Nevada market if the transfers are approved.
- Item 5(d) — TOIs by GWGA LLC (TOI #2300036 through #2300039): Motion to approve transfers to Dease Holdings Inc. and a limited NCCR 5.11 waiver (to expire at the next TOI agenda) moved by Member Merritt; second recorded; outcome approved. Staff and applicants confirmed outstanding Secretary of State and local licensing issues would be resolved and capital was allocated to meet obligations.
- Item 5(e) — TOIs for Nature’s Kindness LLC and Kindables LLC (TOI #19068 / #19069 series) to transfer cultivation/production licenses C008 and P007 to Mint Nevada LLC and to grant a limited NCCR 5.11 waiver: Motion moved by Member Maserana; second by Member Berry; outcome approved.
- Item 6(a) — Proposed security interest: Polaris Wellness Center LLC and SVJ 1 LLC (licensing/collection arrangement): Motion to approve moved by Member Durrett; second by Member Barry; outcome approved.

Staff flagged that conditional approvals and waivers carry implementation conditions: applicants must complete required local approvals, finalize inspections and, where the board limited a waiver, meet the board again if further small transfers occur. Several applications carried “areas of interest” recorded in staff investigations (unapproved historic transfers, stock trades not reported, and outstanding tax liabilities); staff described those as context rather than disqualifying concerns because of timing or pending resolution.

The board also received informational notices of final licensure for Vertical Horizon LLC (cultivation/production, West Wendover) and Conjurium 3 LLC (retail, Esmeralda County); those items were informational only and did not require a vote.

The board set its next regular meeting for Nov. 20, 2025. The record shows no roll-call vote tallies for individual board members in the audio transcript; motions carried by voice vote as recorded.