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Board approves transfer of WaveSear dispensary license to Natural Medicine LLC
Summary
The Cannabis Control Board approved the transfer of dispensary license D132 from WaveSear of Las Vegas to Natural Medicine LLC and granted temporary waiver requests under NCCR 5.11/5.112; Natural Medicine would own four Southern Nevada dispensaries if the transfer is finalized.
The Nevada Cannabis Control Board approved a staff-recommended transfer of dispensary license D132 from WaveSear of Las Vegas to Natural Medicine LLC and granted requested waivers under NCCR 5.11 and NCCR 5.112, subject to the condition that the waiver expires on the next agenda date.
CCB staff attorney Rachel Branner presented the agenda item, describing the proposed transaction and stating that staff had identified no areas of concern that would prevent recommending approval. "If approved, WAVE Sierra of Las Vegas will retain its cultivation and production licenses, while its dispensary license will convey to Natural Medicine, resulting in Natural Medicine owning a total of 4 dispensaries in Southern Nevada," Branner said.
Representatives from both sides appeared. Alicia Ashcraft spoke for the seller, WaveSear of Las Vegas, and David Rosen (CEO/manager) attended. Counsel for the buyer, Jack Spoken of Ben David Law, introduced Donald Foreman (majority owner), Lindsay Clements (director of operations) and El Nadeau (director of compliance). Ashcraft and others thanked staff, and the buyer team answered board questions about operations and compliance oversight.
Chair Andre Berry moved to approve the transfer and to grant the NCCR 5.11 waiver for both parties; Member Rath seconded. The board approved the motion by voice vote.
The waiver language approved applies to transfers of less than 5 percent and is conditioned to expire on the next agenda date. No formal vote tally was recorded in the transcript.
Separately, CCB staff noted that both WaveSear and Natural Medicine requested the procedural waivers under the cited NCCR sections; staff recommended approval after review.
