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Cannabis Industry Business Professionals Blogs, Press Releases and News Articles from the best journalist in the industry. Stay updated on all news from many online cannabis news outlets, on MjLink.com

Cannabis Business Times

Cannabis Business Times is owned by GIE Media, based in Valley View, Ohio. CBT’s mission is to help accelerate the success of legal cannabis cultivators by providing actionable intelligence in all aspects of the business, from legislation, regulation and compliance news to analysis of industry trends, as well as expert advice on cultivation, marketing, financial topics, legal issues and more.

CBT focuses strictly on the business of legal cannabis for medical and recreational use and aims to provide timely information—through its website, e-newsletter, mobile app, print magazine and annual conference—to help the reader make timely, informed decisions to help them run their businesses better and more profitably. In 2018, Cannabis Business Times was named Magazine of the Year by the American Society of Business Publication Editors.

California Proposes Standardized Lab Testing

Cannabis Business Times Marijuana News Monday, 11 July 2022

 
 

California’s Department of Cannabis Control (DCC) is proposing standardized lab testing methods in an effort to create uniformity across the state.

Senate Bill 544 would require DCC to establish standardized cannabinoid testing methods by Jan. 1, 2023, according to a release from DCC.

Per the Medicinal and Adult Use Cannabis Regulation and Safety Act, all cannabis products in California must be tested by a licensed cannabis testing laboratory prior to sale to ensure they are free of harmful contaminants including molds, pesticides and residual solvents, and are labeled with accurate cannabinoid content and information.

RELATED: June cover story: California’s Cannabis Market at a Crossroads

“One of the challenges we face in regulating an industry that is not federally recognized is the lack of standardized testing and validated methods for testing,” said DCC Director Nicole Elliott. “Individual, licensed laboratories use different methods which may produce inconsistent results and inaccurate data on cannabis cannabinoid content. DCC is working to change that so there is greater integrity in the market, accurate information for consumers, and confidence among stakeholders.”

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Trulieve Opens Medical Cannabis Dispensary in Apopka, Florida

Cannabis Business Times Marijuana News Monday, 11 July 2022

TALLAHASSEE, Florida, July 11, 2022 - PRESS RELEASE - Trulieve Cannabis Corp., a multistate cannabis operator, opened a new medical dispensary in Apopka, Fla. Located at 2121 W Orange Blossom Trail, the Apopka dispensary opened at 9 a.m. ET Saturday, July 9, with ongoing regular hours of 9 a.m. to 9 p.m. from Monday through Saturday and 10 a.m.- 8 p.m. on Sunday.

Grand opening festivities throughout the day at the new dispensary included numerous partner giveaways, music, food trucks, deals and specials, and all registered patients received a 25% discount. Trulieve also offers statewide home delivery, convenient online ordering and in-store pickup. All first-time guests are also eligible for a 50% new customer discount at any Florida-based location.

"Trulieve is proud to expand access to medical marijuana for Florida's patient population," said Trulieve's Chief Executive Officer Kim Rivers. "Trulieve is committed to investing in the Apopka community, as well as offering patients access to high-quality products and providing exceptional customer experiences."

Trulieve's retail employees are trained to provide personalized patient care and support individuals at every stage of their cannabis journeys. Trulieve dispensaries throughout Florida offer on-site consultations to help patients obtain appropriate medical products and dosages to ensure optimal cannabis experiences.

Trulieve patients across Florida can choose from a large selection of THC and CBD products available in various consumption methods, including smokable flower, concentrates, edibles, capsules, syringes, tinctures, topical creams, vaporizers, and more.

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Jushi Announces Grand Reopening of Beyond Hello Palm Springs

Cannabis Business Times Marijuana News Monday, 11 July 2022

BOCA RATON, Florida, July 11, 2022 - PRESS RELEASE - Jushi Holdings Inc., a vertically integrated, multi-state cannabis operator, announced the grand reopening of its Beyond Hello Palm Springs retail location will be held at 9 a.m. PT, Wednesday, July 13. The redesigned retail location at 4765 E Ramon Road features a new desert-inspired aesthetic, some of the most sought-after locally-sourced cannabis and artisan crafts, along with a new art exhibit from award-winning photographer Jushi Chief Creative Director Andreas Neumann.

Open every day from 9:00 a.m. to 9:00 p.m., Beyond Hello Palm Springs shoppers can choose from a wide variety of product selections from California craft cannabis providers and distinctive finds, such as the company’s signature scented candle, which Jushi designed in collaboration with a locally owned company Joshua Tree Candle Co. (JTC) to capture the scents and sentiment of California’s Joshua Tree–a legendary travel destination amongst nature enthusiasts. In addition, shop-goers can find popular cannabis brands and products, including flower, concentrates, vaporization products, tinctures, edibles, topicals, capsules, pills and various ancillary products, such as approved rigs, batteries, merchandise and other devices.

“Palm Springs has long been a playground for outdoor enthusiasts, music lovers and cannabis connoisseurs, so it’s fitting that our store personifies the best California has to offer,” said Jim Cacioppo, Jushi CEO, chairman and founder. “Beyond Hello Palm Springs provides our guests with a new retail experience that they can enjoy on their way to Joshua Tree National Park, Coachella or a quick dinner. As adventure seekers ourselves, we aim to bring the excitement of discovering new things to every aspect of our in-store and digital customer experience. By partnering with talented craft growers, boutique businesses like JTC and award-winning artists, we are bringing another elevated retail experience to consumers that helps them discover the thrill of exploring cannabis and the region.”

Neumann added, “Whether you’ve had the privilege of visiting Joshua Tree or not, Beyond Hello Palm Springs’ art exhibit will help you savor one of the world’s most legendary travel destinations. In our redesigned Palm Springs store, we’ve capitalized on the power of sensory branding, delivering an immersive experience to customers that takes them on a desert journey. It is also our first store to feature our new branding and logo, which signals an evolution for not only our company but the cannabis industry at large. At our Beyond Hello Palm Springs location, we unveiled a new mid-century, modern look that is approachable, fun, fashionable and accessible as well as reflecting how we are evolving as a c.”

Beyond Hello Palm Springs features an express pickup option, 12 point-of-sales systems–five of which are express–and 22 convenient parking spots. As part of the company’s commitment to exceeding customer expectations, experienced, well-trained staff will be on-site to help dispense products, answer questions and provide exceptional service.

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Fridays Reign King for Massachusetts Cannabis Dispensaries

Cannabis Business Times Marijuana News Monday, 11 July 2022

Long lines aren’t necessarily great for business.

Sure, long lines are better than no lines, but cannabis shoppers who have to wait extended periods of time to reach a point of sale are less likely to be returning customers, especially if another dispensary nearby can provide quicker service.

One of the easiest ways to keep heavy traffic moving in and out of a dispensary is to have proper staffing during busy days and high-volume hours, Nick Jack, chief operating officer with Nevada-based Diego Pellicer Worldwide, recently told Cannabis Business Times. Diego Pellicer is a national brand with vertical integration that focuses on refining the premium cannabis retail experience.

RELATED: 5 Tips to Capitalize on Friday Sales at Your Dispensary

“It’s great to be busy, but you want to ensure that you’re providing a quality experience to lock down that return customer,” Jack said. “If your customers are coming in and receiving slow/poor service on Fridays, your Fridays will eventually become less busy as consumers will opt to shop somewhere else that’s staffed accordingly.” 

Fridays are key in the retail industry.

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University of New Haven in Connecticut Introduces Cannabis Certificate Programs

Cannabis Business Times Marijuana News Friday, 08 July 2022

The University of New Haven in Connecticut announced that it has partnered with California-based cannabis education company Green Flower to offer four online certificate programs in cannabis.

Connecticut legalized adult-use cannabis in June 2021, and is expected to launch sales later this year. The four certificate programs are designed to prepare students for various jobs in the state's emerging industry.

According to a press release, the four certificate programs, each consisting of three eight-week online courses, will cover the following topics: the business of cannabis, cannabis law and policy, cannabis healthcare and medicine, and cannabis agriculture and horticulture. 

Green Flower will vet and select individuals to teach the programs, which "are developed by board-certified doctors and lawyers along with experts in engineering and agriculture,” according to the release.

"This is a unique opportunity for the university to collaborate with an industry leader in the cannabis education industry to offer in-demand certificate programs that enable individuals from a variety of fields and interests to develop specialized knowledge and skills in some of the most important areas of the cannabis industry," Danielle Wozniak, MSW, Ph.D., provost and vice president for academic affairs at the University of New Haven, said in the press release. “Trained professionals are needed to fill the jobs that are being created now, and that will be created in the future. Students will receive cutting-edge preparation in these certificate programs to prepare them to excel in this emerging and highly competitive growth market while applying ethical business practices and quality standards to the Connecticut cannabis industry."

Enrollment is now open, and all four programs are expected to start Sept. 5.

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Columbia Care Announces Approval of Business Combination with Cresco Labs at Special Meeting of Shareholders

Cannabis Business Times Marijuana News Friday, 08 July 2022

NEW YORK, July 8, 2022 – PRESS RELEASE – Columbia Care Inc., one of the largest and most experienced cultivators, manufacturers and providers of cannabis products in the U.S., announced that at the special meeting of shareholders of the company, held July 8, 2022, the proposed business combination with Cresco Labs Inc. was approved.

RELATED: Cresco Labs Targets $2B Acquisition of Columbia Care

The shareholders voted in favor of a special resolution to approve the previously announced plan of arrangement under the Business Corporations Act (British Columbia) whereby, among other things, Cresco Labs will acquire all of the issued and outstanding shares of the company, all as more particularly described in detail in the company’s definitive proxy statement and information circular dated June 6, 2022, filed on SEDAR and with the U.S. Securities and Exchange Commission (SEC).

Voting results are as follows:

 FORAGAINSTABSTAIN
Percentage of shares(1) that were voted98.55%1.41%0.04%

(1) Assuming conversion of all proportionate voting shares into common shares.

At the meeting, a total of 169,938,646 Columbia Care shares were represented in person or by proxy, representing 42.6% of the Columbia Care shares issued and outstanding as of the close of business on May 10, 2022, and entitled to vote at the meeting as of the record date.

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Minnesota Brewing Company Launches THC- and CBD-Infused Beverage

Cannabis Business Times Marijuana News Friday, 08 July 2022

A brewing company is already jumping on the bandwagon to implement a THC- and CBD- infused beverage product in Minnesota, following the state's recent law that went into effect July 1.

Under Minnesota's new law, "adults 21 years and older can purchase 'edible cannabinoid products' that contain no more than 5 milligrams of hemp-derived THC (i.e. delta-8, delta-9, delta-10) per serving and 50 milligrams per package, and no more than 0.3% THC by dry weight," Cannabis Business Times previously reported.

RELATED: Cannabis Edibles and Beverages Containing Hemp-Derived THC Now Legal in Minnesota

Indeed Brewing Company, which has locations in Minneapolis and Milwaukee, recently introduced a nonalcoholic seltzer water infused with 2 mg of THC and 2 mg of CBD, according to a press release. 

The company plans to release the beverage, called "Two Good," in early August. It also has plans to eventually release a 5 mg version.

Tom Whisenand, Indeed Brewing Company CEO, said in the press release that the company is working hard behind the scenes to develop a "first-of-its-kind product in Minnesota."

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When Launching a Dispensary, Identify The Gaps: Q&A With Hope Wiseman

Cannabis Business Times Marijuana News Friday, 08 July 2022

Although many barriers exist when launching a cannabis dispensary, Hope Wiseman, owner of Mary & Main in Capitol Heights, Md., says besides finding capital, access to the expertise and industry knowledge necessary to compete may top the list.

“The major players, we’re in play. It’s difficult to jump into a new market now,” Wiseman says. “Ten years ago, everybody was new, so the competition was level. Now you have some people who are way out front.”

However, because there are more established companies than when Wiseman started the cannabis license application process for Mary & Main in 2014, “there are ladders to climb where you can get experience,” she says. 

Ahead of her session at Cannabis Conference 2022, where Wiseman will be moderating on a panel of experienced dispensary owners on how to get a retail business off the ground, she offers advice on site selection, hiring, budgeting and more.  

Editor's note: Hope Wiseman will be moderating the session “How to Launch a Medical or Adult-Use Dispensary” from 10:00-11:10 a.m. Aug. 23 at Cannabis Conference, taking place at the Paris Las Vegas Hotel & Casino. In this session, experienced dispensary operators will weigh in on site selection, how to ensure you have enough capital to sustain your business through common project delays that could otherwise derail your opening plans, and much more.

Visit https://www.cannabisconference.com/ for more information and to register. 

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CORRECTION: Trulieve Announces Registration Statement Filing

Cannabis Business Times Marijuana News Friday, 08 July 2022

TALLAHASSEE, Fla., July 8, 2022 – PRESS RELEASE – Trulieve Cannabis Corp., a leading and top-performing cannabis company in the U.S., announced that it filed a shelf registration statement on Form S-3with the U.S. Securities and Exchange Commission (SEC) on July 7, 2022, to register a base shelf prospectus and to register for resale select subordinate voting shares of the company. The registration statement is expected to become effective upon its acceptance by the SEC.

Trulieve became eligible to file the S-3 registration statement following one year of reporting under the previously filed registration statement and associated amendments on Form S-1. The S-3 filing provides a shelf registration which may provide the company with additional flexibility in its future financing opportunities.

Editor’s note: Trulieve CEO Kim Rivers said publicly that the filing of the S-3 is to provide optionality in the event the company wants to do any type of raise in the future, but there are no plans to use it currently.

The specific terms of any securities to be offered pursuant to the base prospectus will be specified in a prospectus supplement. The resale prospectus covers the resale registration by selling shareholders of up to 72,288,199 subordinate voting shares. Selling shareholders may offer, sell or distribute all or a portion of their subordinate voting shares publicly or through private transactions at prevailing market prices or at negotiated prices. However, the registration of the securities covered by the registration statement does not necessarily indicate that the company and/or selling shareholders will offer or sell any subordinate voting shares in connection with such registration or within any specific timeframe.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.

Trulieve has filed a registration statement (including a prospectus) with the SEC for the registration of shares to which this communication relates. The company advises reading the prospectus in that registration statement and other documents it has filed with the SEC for more complete information about the company and any applicable offering. These documents are available for free by visiting EDGAR on the SEC website at www.sec.gov.

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California to Celebrate 2022 CA State Fair Cannabis Award Winners

Cannabis Business Times Marijuana News Friday, 08 July 2022

The inaugural set of Golden Bear trophies will be distributed to winners of the 2022 CA State Fair Cannabis Awards this month when the California State Fair hosts its first such cannabis competition. The fair runs July 15 – 31 in Sacramento.

The award divisions include: Outdoor, Indoor and Mixed Light. Within those divisions are more focused categories, “three primary cannabinoids, six terpenes and one co-dominant terpene profile.”

Taking home the Gold for the Outdoor Myrcene category, for example, is Naughty Squirrel Farms’ Lemon Vuitton.

An overarching Best of California division also awards trophies to the very best cultivar in each category—across the three divisions.

See the full list of winners here. 

“Each submission was tested by SC Labs to the highest standards, which generated its own Phytofacts® chemometric report that verified the results by division and category,” according to the state. “Medals were awarded based on overall terpene or cannabinoid expression in each of the ten categories. Terpenes winners were further evaluated by category by considering the ratio of each terpene against the overall terpene concentration in each submission. This ensured that each flower was properly classified and true to its unique makeup.”

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Arkansas Voters Likely to Decide Adult-Use Cannabis Legalization in November

Cannabis Business Times Marijuana News Friday, 08 July 2022

Arkansas could be the 20th state to legalize adult-use cannabis—and the first among its six neighboring states—this November.

That’s because ballot initiative group Responsible Growth Arkansas submitted more than 190,000 signatures July 8 to the secretary of state’s office for its petition to let voters decide on a constitutional amendment to fully legalize the plant, ABC-affiliate KATV reported.

That’s more than double the 89,151 valid signatures needed—or 10% of the votes cast for governor in the most recent gubernatorial election—according to BallotPedia.org.

Former Arkansas state Rep. Eddie Armstrong III, a Democrat who served as minority leader during his statehouse tenure from 2013-2019, filed the initiative and established Responsible Growth Arkansas to support it. For the past four years, Armstrong has served as the CEO and chairman of Chicago-based Cannabis Capital Group, a medical cannabis consulting, investing and advisory firm.

The intent of the ballot measure, the “Arkansas Adult Use Cannabis Amendment,” is to authorize adults 21 and older to legally possess up to 1 ounce of cannabis for personal use and to authorize the cultivation and sale of cannabis by licensed commercial facilities. 

Cultivation Licenses

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Bio Detection K9 Partners With Purdue University to Train Canines to Detect Diseases in Cannabis and Hemp

Cannabis Business Times Marijuana News Thursday, 07 July 2022

One company is working with Purdue University to train canines to detect diseases in hemp and cannabis plants.

Columbus, Ohio-based Bio Detection K9 (BDK9) offers canine and technology-based services to detect viruses and pathogens in human hosts and agricultural settings. The company recently partnered with Purdue University to develop processes for training canines to detect diseases in hemp and cannabis crops.

William Schneider, Ph.D., chief scientific officer at BDK9, says the company’s initial goal was to train canines to detect tree diseases.

“Those projects went particularly well, and then in the process of figuring out how that worked, we came across better methods that allowed us to train dogs to detect pathogens somewhat directly,” he says.

According to its website, since 2011, the company has trained canines to detect the following diseases in agricultural settings: citrus canker, huanglongbing (a bacterial disease of citrus), plum pox virus in peaches and plums, and four separate viral diseases in tomatoes. The company has also trained canines to screen humans for the COVID-19 virus.

Schneider says as BDK9 began to develop these processes, it started to think about what commodities could benefit from these services.

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Michigan Cannabis Regulators Discipline 3 Companies With $16K in Fines

Cannabis Business Times Marijuana News Thursday, 07 July 2022

Three Michigan cannabis license holders were issued fines of $1,000, $5,000 and $10,000, according to a June 2022 disciplinary action report released July 7 by the state’s Cannabis Regulatory Agency (CRA).

Green Mitten Agricultural Corp., a Class C cultivation license holder near Bangor, was fined $5,000 for allegedly shipping a fresh frozen cannabis product that weighed roughly 1,391 pounds on the shipped manifest but then weighed roughly 1,226 pounds on the received manifest—a difference of 165 pounds—in May 2021.

The company admitted  it waited approximately six months to ship the package to the receiving establishment and did not reweigh the package prior to shipping, and that the product was not properly stored prior to shipment, according to a consent order and stipulation and formal complaint between CRA and the company.

Cross Country Enterprises LLC (doing business as Exclusive Kalamazoo), a state-licensed retailer, was fined $1,000 for allegedly transferring 240 cannabis packages from its Kalamazoo facility to a Grand Rapids facility in February 2021.

Transferring cannabis product from one provisioning center to another is a violation of Michigan law, which states “a provisioning center license authorizes the purchase or transfer of marihuana only from a grower or processor and sale or transfer to only a registered qualifying patient or registered primary caregiver,” according to a consent order and stipulation and formal complaint between CRA and the company.

And Exclusive Brands LLC, a vertically integrated company that operates a Class C grower facility and has four retail locations in the state, was fined $10,000 for allegedly having two Metrc statewide monitoring system tags fail compliance testing for Pyrethrins, a banned chemical residue, in January 2020 at its Ann Arbor facility.

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Indiana University Researchers Receive $2 Million Grant to Study Cannabis Use in Adolescents

Cannabis Business Times Marijuana News Thursday, 07 July 2022

Indiana University announced this week that neuroscientists in the IU Gill Center for Biomolecular Science received a $2 million grant from the NIH’s National Institute on Drug Abuse to study the effects of cannabis use in adolescents ages 12 to 14.

Researchers plan to use mice to study the impact of adolescent cannabis use in order to develop therapies to treat any adverse effects in humans. Mice with diverse genetic backgrounds will be studied, as well as both male and female mice, in order to mimic human diversity and to see if there are sex-dependent differences in THC effects.

The neuroscientists will also study the underlying molecular changes that account for behavior changes, such as working memory deficits.

“This is a significant public health concern,” Hui-Chen Lu, director of the Gill Center and a professor in the IU College of Arts and Sciences’ Department of Psychological and Brain Sciences, said in a public statement. “Today's cannabis strains are being bred for increased THC content. It’s very different and much riskier than the more traditional strains used in the past. There’s an urgent need to understand the effects of these new strains.”

“One of the functions of the prefrontal cortex is working memory, as well as processes like planning and impulse control,” added Ken Mackie, chair of the Gill Center and a professor in the Department of Psychological and Brain Sciences. “That part of the brain is still developing in adolescence, and developing brain structures are particularly vulnerable to environmental impacts, such as drug use or stress.”

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Montana Cannabis Legalization Trends: Adult-Use Sales Up, Medical Sales Down

Cannabis Business Times Marijuana News Thursday, 07 July 2022

In typical post-legalization fashion, Montana’s adult-use cannabis sales have continued to take over the medical market since the state launched its recreational retail program in January.

Licensed dispensaries reported nearly $17.3 million in adult-use sales in June, a 22.1% increase from January. Meanwhile, medical cannabis sales dipped to $7.6 million in June, a 24.8% decrease from January, according to the state’s Department of Revenue (DOR).

With that inverse relationship continuing a month-by-month trend, adult-use cannabis sales represented 69% of the total retail market in June—up from 58% in January.

Overall, the Treasure State has sold more than $148 million in total cannabis through the first half of 2022 ($93.7 in adult-use and $54.3 million in medical), generating nearly $21 million in estimated tax revenues, according to DOR.

Representing a constant from the previous month, 28 of Montana’s 56 counties participated in the state’s adult-use cannabis retail program in June, while 36 participated in the medical market.

Montana’s four most populous counties accounted for the largest total sales figures for the month: Yellowstone, $4.2 million; Gallatin, $3.8 million; Missoula, $3.4 million; and Flathead, $2.7 million.

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High Tide to Acquire Nine Operating Retail Cannabis Stores from Choom Holdings

Cannabis Business Times Marijuana News Thursday, 07 July 2022

CALGARY, AB, July 7, 2022 /CNW/ - PRESS RELEASE - High Tide Inc., a retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, has announced that it is further expanding its bricks-and-mortar retail cannabis operations and entering the British Columbia market, through a binding agreement pursuant to which High Tide will acquire two operating retail cannabis stores in British Columbia, six operating retail cannabis stores in Alberta, and one operating retail cannabis store in Ontario from Choom Holdings Inc. and its subsidiaries for CAD$5.1 million, pending court approval on July 7, 2022.

"I am thrilled to be announcing this deal today, which represents the third public company whose assets we have integrated into the High Tide portfolio since November 2020, following the acquisitions of Meta Growth and Smoke Cartel. Choom was one of the original and long-standing brands in cannabis retail with a presence across the country and a similar brand personality to Canna Cabana. This will make the integration of Choom into the Canna Cabana brand seamless," said Raj Grover, president and CEO of High Tide. "While Choom had 17 operational stores before entering CCAA proceedings, we are able to acquire the nine locations that we want across three provinces at an attractive price of 3.8x annualized Adjusted EBITDA. With these acquisitions, we are able to bring our innovative discount club model to Vancouver, Canada's third-largest metropolitan area, as well as numerous new markets in Alberta where we do not yet have a presence. I look forward to giving a warm welcome to the team members from Choom as they join the High Tide family."

The stores have the following addresses:

191 West 2nd Avenue in Vancouver, British Columbia. The Vancouver West 2nd Store is located in the trendy Mount Pleasant neighborhood, close to numerous popular restaurants and retail stores, as well as the Olympic Village and Science World.1391 Richards Street in Vancouver, British Columbia. The Vancouver Richards Store is located in the trendy and densely-populated Yaletown neighborhood in downtown Vancouver.7555 Montrose Road in Niagara Falls, Ontario. The Niagara Store is located in Niagara Square, an outlet mall anchored by numerous national big box and discount retailers.115 2nd Avenue West in Brooks, Alberta. The Brooks Store is located in the center of Brooks, close to numerous retail businesses.5308 50th Avenue in Cold Lake, Alberta. The Cold Lake 50th Avenue Store is part of a commercial district in Cold Lake South containing numerous restaurants and other businesses.1020 8th Avenue in Cold Lake, Alberta. The Cold Lake 8th Avenue Store is located on the main east-west street in Cold Lake North, close to several businesses, restaurants, and hotels.320 Centre Street in Drumheller, Alberta. The Drumheller Store is located in central Drumheller, close to a variety of local businesses and restaurants.2719 14th Street SW in Calgary, Alberta. The Calgary Store is located on a well-trafficked road in southwest Calgary and is easily accessible for residents of nearby communities with favorable cannabis demographics, such as Bankview and South Calgary.10140 107th Street in Westlock, Alberta. The Westlock Store is located in the town's commercial center, close to numerous businesses.

For the three months ended April 30, 2022, collectively, the stores generated annualized revenue of CAD$10.2 million and annualized adjusted EBITDA of CAD$1.3 million. The purchase price represents 3.8x annualized adjusted EBITDA for the three months ended April 30, 2022.

Transaction Details

The transaction, which is an arm's length transaction, is subject to, among other things, receipt of required TSX Venture Exchange (TSXV) approval, court approval, approval from various provincial regulators, and other customary conditions of closing, and is expected to close in the coming weeks. The consideration for the stores being acquired will be CAD$5.1 million, which is to be satisfied through the issuance of common shares of High Tide on closing of the transaction on the basis of a deemed price per High Tide Share equal to the volume weighted average price per High Tide Share on TSXV for the 10 consecutive trading days preceding the closing. The transaction may close in multiple tranches depending on the speed of provincial regulatory approvals. Inclusive of the stores, following the closing, High Tide will have at least 43 stores in Ontario, 2 stores in British Columbia, 72 stores in Alberta, and 136 stores nationwide.

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North Carolina Governor Signs Hemp Bill Into Law as Medical Cannabis Legislation Languishes in House

Cannabis Business Times Marijuana News Thursday, 07 July 2022

Medical cannabis legalization stalled again this year in North Carolina, but legislation made it across the finish line to allow hemp farming to continue legally following the state’s five-year pilot program.

Gov. Roy Cooper signed the North Carolina Farm Act of 2022 into law June 30, according to a Port City Daily report.

The legislation defines hemp as containing 0.3% THC or less, and permanently exempts hemp and hemp-derived products from North Carolina’s controlled substances act, the news outlet reported.

The bill aligns the state’s hemp policy with the 2018 Farm Bill, which removed hemp from the federal controlled substances act.

The Farm Act cleared the North Carolina House in an 85-26 vote, and passed the Senate in a 41-2 vote, according to Port City Daily.

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DC Launches Adult-Use Cannabis Sales Without Launching Adult-Use Cannabis Sales

Cannabis Business Times Marijuana News Thursday, 07 July 2022

Adult-use cannabis and medical cannabis are now one and the same in Washington, D.C.

District Mayor Muriel Bowser signed into law July 6 an emergency bill allowing all adults 21 years and older to self-prescribe medical cannabis and obtain a medical card, with or without a doctor’s recommendation.

Taking effect immediately, the Medical Marijuana Self-Certification Emergency Act allows the expanded “patient” base to access one of the district’s seven medical dispensaries to legally purchase cannabis in a workaround of a law that has prevented elected district officials from regulating and taxing adult-use cannabis sales in their jurisdiction for the past seven years.

“We have made it a priority over the years to build a more patient-centric medical marijuana program and this legislation builds on those efforts,” Bowser said in a statement following her signing on Wednesday.

“We know that by bringing more medical marijuana patients into the legal marketplace in a timely manner and doing more to level the playing field for licensed medical marijuana providers, we can protect residents, support local businesses, and provide clarity to the community,” the mayor said. “I applaud the council for moving forward this innovative solution to a complex issue, and I look forward to working with the council and [Alcoholic Beverage Regulation Administration] ABRA on permanent, more comprehensive medical marijuana legislation in the future.”

The city’s medical cannabis retailers have experienced “substantial erosion of their business to the illegal market,” Council Chairman Phil Mendelson said in April, when a previous attempt to allow adults 21 and older to access medical cannabis without a doctor’s prescription failed.

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Vantage Builders Completes Project for Zahara Cannabis in Attleboro

Cannabis Business Times Marijuana News Thursday, 07 July 2022

WALTHAM, MA – June 28, 2022 --PRESS RELEASE-- Vantage Builders, Inc., a commercial contractor specializing in pre-construction, construction management and design-build services, has announced that it completed the build-out of a high-end recreational cannabis dispensary for Zahara Cannabis, located at 70 Frank Mossberg Drive in Attleboro.

Zahara means “most exquisite flower” and the design of the dispensary reflects the name. The dispensary, Zahara’s first retail location, opened on June 13. Zahara’s customers are able to purchase a wide range of cannabis products, including flower, pre-rolls, vapes, edibles, topicals, tinctures and concentrates. Zahara’s knowledgeable budtenders work closely with each customer to ensure they receive the products best suited for their needs and preferences.

“We are excited that our store is open and serving customers who are passionate and discerning about their cannabis products,” said Michael Kochekian, General Manager, Zahara Cannabis. “We already feel a strong connection to the Attleboro community and are committed to making a positive impact in the area. We greatly appreciate Vantage Builders’ expertise in helping to get us up and selling on time and within budget.”

Vantage Builders followed plans by 2WR + Partners architects on the 6,000-square-foot project. Zahara’s dispensary features a reception area, product displays, a sorting/fulfillment room, point of sales areas, several offices and storage space. The Vantage team completely transformed the former warehouse facility into a high-end retail location.

The dispensary has a very open atmosphere, intentionally designed to make all customers, regardless of their level of experience with cannabis, feel welcome and relaxed. Zahara’s colorful branding is displayed throughout.

The product display areas feature custom millwork that showcase Zahara’s full range of offerings. Product menus and information are displayed on large monitors. Five point of sales areas, featuring intricate millwork, ensure that customers are quickly and efficiently served, without feeling hurried.

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The Parent Company, Curio Wellness Partner in Maryland

Cannabis Business Times Marijuana News Wednesday, 06 July 2022

 

The Parent Company (TPCO) is bringing its brands and products to Maryland after entering into a brand licensing and cultivation and production agreement with Curio Wellness.

TPCO products are expected to launch in late 2022 in the state, according to a company release, with products initially available at Curio’s Far & Dotter dispensaries and wholesale distribution across the state to follow. Initial TPCO brands to be offered in Maryland include Caliva Mirayo by Santana, Monogram, Deli, and more, with product offerings including flower, prerolls, vapes, and edibles.

RELATED: Curio Wellness Names Greg Miller as President of Retail

 

This marks San Jose-based TPCO’s first expansion outside of California.

“We are thrilled to complete our first out-of-state expansion and excited to introduce Maryland to our high-quality branded products,” said Troy Datcher, CEO and Chairman of The Parent Company. “Curio’s premier indoor-grown cannabis, cGMP certification, and proven execution make them a great partner to provide Maryland’s patients with access to our well-known California brands.”


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