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Representative of licensed cannabis manufacturer introduces investor, pledges local hiring
Summary
A representative for Score 420 introduced Keegan Clear, an investor from Oklahoma who plans to buy an initial 49% stake with intent to take majority ownership of a cannabis manufacturing license granted for a Camry Avenue location; the representative said prior commitments to local hiring and job training will be honored.
At tonight’s Pleasantville City Council meeting, Lou Magaz, representing a company that holds a cannabis manufacturing license for a Camry Avenue location, introduced a prospective investor, Keegan Clear of Tulsa, Oklahoma.
Magaz told council that Clear is expected to acquire an initial 49% interest in the company with eventual plans to take a majority position; Magaz said he is working with attorneys to complete the transaction and that the governing body will see paperwork and seek council review before any license transfer is finalized. "We are in the midst...working with his attorneys to do the paperwork for the transaction," Magaz said.
Keegan Clear described his experience in cannabis cultivation and manufacturing in Oklahoma and said his businesses employ dozens of people and operate in good standing with regulators there. "I've been in cannabis cultivation and processing retail in Tulsa since 2021...we currently have three active licenses with a fourth on the way...we manufacture over 170,000 units..." Clear said, adding that he expects to pursue similar local hiring and training commitments if the investment proceeds. Magaz said existing commitments to hire locally (starting with Pleasantville, then Atlantic County and South Jersey), job training programs and job fairs will be honored and will be handled through council review and any regulatory approvals required.
Council did not vote on any license action at the meeting; Magaz said the parties will return with documents for council review and, if approved by the governing body, would proceed to the Cannabis Regulatory Commission (CRC) as required.
