MjLink Cannabis Business News and Press

MIAMI, May 26, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Ayr Wellness Inc., a vertically integrated U.S. multi-state cannabis operator (MSO), is reporting financial results for the three months ended March 31, 2022. Unless otherwise noted, all results are presented in U.S. dollars.  

Jonathan Sandelman, founder, chairman and CEO of Ayr, said, “We have made excellent progress this year to complete major capex projects and receive regulatory approvals across our footprint. We will now unlock the revenue streams from these various assets going forward – including the start of adult use sales in New Jersey and Boston next month. We invested heavily in these assets ahead of the revenue benefits which has temporarily reduced our operating margins, however we expect these investments to put our forward earnings power in a much stronger position and anticipate improvements to both our top and bottom line in the second half of 2022 as these assets come online and begin to ramp.

“It has been well-telegraphed by our peers that Q1 was a challenging period for the industry. However, we have maintained or even increased retail market share across most of our footprint despite this challenging backdrop, while also increasing wholesale revenue.

“The foundation for our business is set, and the investments we have made into our people, our customers, our technology infrastructure, and our retail and cultivation processes are now set to bear fruit. It has been a long journey that has required incredible patience, but as our assets turn on and ramp in Q3 and Q4, we believe we are at the inflection point we’ve been planning for the past 18 months.”

First Quarter Financial Highlights ($ in millions, excl. margin items)

1Adjusted EBITDA, Adjusted Gross Profit and Adjusted EBITDA Margin are non-GAAP measures, and accordingly are not standardized measures and may not be comparable to similar measures used by other companies. See Definition and Reconciliation of Non-GAAP Measures below. For a reconciliation of Operating Loss to Adjusted EBITDA as well as Gross Profit to Adjusted Gross Profit, see reconciliation table appended to this release.

TORONTO, May 25, 2022 /CNW/ --PRESS RELEASE-- The Green Organic Dutchman Holdings Ltd. (CSE: TGOD) (OTC: TGODF), a sustainable global cannabis company, reports its financial results for the quarter ended March 31, 2022. These filings are available for review on the company's SEDAR profile at www.sedar.com. All financial information is provided in Canadian dollars except where otherwise indicated.

Management Commentary: 

"We continued our momentum from Q4 2021 with strong Q1 2022 results, including another record month in March. These results can be attributed to the launch of new products and our existing products gaining further traction, affirming the strategic approach we have taken," commented Sean Bovingdon, CEO of TGOD. "In addition to continuing to increase our retail distribution by investing in building relationships with the retail cannabis chains to expand distribution, we are preparing for future growth.  We remain on track to achieve breakeven EBITDA on a monthly basis in Q2 and are pursuing opportunities for additional cultivation for 2023 to meet the strong demand for our products, specifically our premium flower.  We continue to have strong conviction in our potential to achieve significant growth quarter over quarter, as we remain focused on quality and consistency, as well as continued cost discipline and execution to build a strong and sustainable organization and brands that consumers love."

First Quarter 2022 Financial Highlights: 

	Three months ended					Three months ended
	March 31, 2022	March 31, 2021	Variance to Q1-2021 ($)	Variance to Q1-2021 (%)		December 31, 2021	Variance to Q4- 2021 ($)	Variance to Q4- 2021 (%)
Net Revenue	10,575	5,389	5,186	96%		9,466	1,109	12%
Cost of sales	6,868	5,348	1,520	28%		6,432	436	7%
Gross profit (loss) before changes in fair value of biological assets	3,707	41	3,666	8941%		3,034	673	22%
Gross profit (loss) % before changes in fair value of biological assets	35.05%	0.76%				32.05%
Realized fair value adjustment on sale of inventory	(2,435)	(1,530)	(905)	59%		(2,535)	100	(4%)
Unrealized gain on changes in fair value of biological assets	4,305	3,321	984	30%		4,368	(63)	(1%)
Gross profit (loss)	5,577	1,832	3,745	204%		4,867	710	15%
Gross profit (loss) %	52.74%	34.00%				51.42%

 

The company:

MIAMI, May 25, 2022 (GLOBE NEWSWIRE) --PRESS RELEASE- Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) , a leading vertically integrated U.S. multi-state cannabis operator, today announced it has closed the definitive agreement to acquire Herbal Remedies Dispensaries, LLC, an operator of two licensed retail dispensaries in Quincy, Illinois.

“We are thrilled to finalize the acquisition of Herbal Remedies, strengthening our operational footprint with the addition of Illinois, a strategic and growing adult-use market,” said Jonathan Sandelman, Founder, Chairman and CEO of Ayr. “The team at Herbal Remedies has created a highly valuable position as one of the first licensed cannabis dispensaries within the state, establishing excellent relationship services that we feel will be a natural fit in support of our common mission to provide people with remarkable cannabis experiences. We look forward to strengthening this position as the Illinois market continues to develop within the broader U.S. cannabis landscape.”

Herbal Remedies was among the first cannabis dispensaries licensed in the State of Illinois when the State approved the Compassionate Use of Medical Cannabis Program in 2013. Both medical and recreational use are permitted in Illinois. Herbal Remedies has licenses and sells cannabis for both uses, as will Ayr going forward.

The acquisition was approved by the Illinois Department of Financial and Professional Regulation on May 11, 2022. Terms of the transaction can be found in the Company’s press release announcing the definitive agreement, dated July 20, 2021.

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LONDON, May 26, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Tilray Brands, Inc., a global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life, today announced the launch of POLLEN, a CBD lifestyle brand with a new approach to wellness, on Amazon UK.

Designed to help uncomplicate wellness routines and elevate the CBD experience for consumers, POLLEN offers a unique product mix of tasty CBD gummies and drink drops in three signature lines: ‘Powerbank’ to promote a natural energy boost, ‘No Pressure’ to soften the pressure of everyday stresses and restore your body’s natural bounce, and ‘Soothe You’ for mind and body balance. Each POLLEN product is formulated with CBD and a range of flavorful and vegan-friendly ingredients that simply taste and feel good.

Powerbank - Developed to give you that ‘full tank’ feeling. Powerbank CBD Gummies are a combination of lemon, orange and cacao. Powerbank CBD drink drops include citrus and warm tones of lemon, orange, and coffee to promote a natural energy boost.

No Pressure – Created for those seeking to relax, No Pressure Gummies feature grapefruit, turmeric + cayenne while the No Pressure Drink Drops are packed with a punch of blackcurrant.

Soothe You – All about finding that sense of serenity and balance. Soothe You CBD Gummies include a relaxing blend of chamomile, honey, and cherry. The CBD Drink Drops are a breath of fresh air with tasty hints of grapefruit and raspberry.

A recent study conducted by CBD product reviewer Leafreport found that brand transparency, quality and safety in the CBD industry are seemingly "stagnating and deteriorating in several critical respects," the company stated in a press release.

The study, which examined 4,384 products from 188 CBD brands, found that only 7% of brands tested all their products for microbes, pesticides and heavy metals. That number represents a 1% increase compared to Leafreport’s 2021 study, which reviewed 2,946 products from 136 brands, according to the company.

The study also found that 20% of brands do not engage in any purity tests to check for microbes, pesticides or heavy metals—a 5% decrease compared to 2021. 

The number of brands that test nearly all of their products for potency and make their third-party lab tests available for consumers remained at 42% from last year, demonstrating that the industry's commitment to potency and purity testing remains stagnant.

Furthermore, Leafreport found that roughly 22 of the 188 brands had all their "products fall within acceptable potency variance levels.”

Other key findings reported by Leafreport include:

A recent study conducted by CBD product reviewer Leafreport found that brand transparency, quality and safety in the CBD industry are seemingly "stagnating and deteriorating in several critical respects," the company stated in a press release.

The study, which examined 4,384 products from 188 CBD brands, found that only 7% of brands tested all their products for microbes, pesticides and heavy metals. That number represents a 1% increase compared to Leafreport’s 2021 study, which reviewed 2,946 products from 136 brands, according to the company.

The study also found that 20% of brands do not engage in any purity tests to check for microbes, pesticides or heavy metals—a 5% decrease compared to 2021. 

The number of brands that test nearly all of their products for potency and make their third-party lab tests available for consumers remained at 42% from last year, demonstrating that the industry's commitment to potency and purity testing remains stagnant.

Furthermore, Leafreport found that roughly 22 of the 188 brands had all their "products fall within acceptable potency variance levels.”

Other key findings reported by Leafreport include:

The North Carolina Senate introducedlegislation Monday that would permanently remove hemp from the state controlledsubstances list.

The measure, Senate Bill 762, would define "hemp as cannabis havingless than 0.3% of delta-9," the cannabinoid that distinguishes hemp fromits federally illegal counterpart, cannabis, WRAL reported.

In addition, the state's pilot program—whichtemporarily removes hemp from the state controlled substances list—is set toexpire June 30. If S.B. 762 does not pass before the pilot program expires,hemp will be outlawed in North Carolina.

During a May 24 meeting, Bill Sponsor BrentJackson (R) told the Senate agriculture committee that retailers would beillegally selling hemp products if the current law were to expire before S.B.762 passes. Farmers would also be growing the crop illegally, the news outletreported. 

"In practical terms, we will maintain thestatus quo that we currently enjoy today and our growers and retailers havetoday," he said during the committee meeting regarding why the stateshould pass the measure.

According to WRAL, any previousdiscussions of legalizing hemp in North Carolina caused protests from lawenforcement groups opposing legalization, but this time around, the measure didnot receive pushback and passed in the committee meeting May 24.

Item 9 Labs Corp. signed a definitive agreement to acquire Sessions Cannabis, a Canadian cannabis retail franchisor.

Founded in 2019, Sessions Cannabis has a franchise system comprised of 18 franchisees operating 43 locations throughout the Province of Ontario, where the company is based.

“This is a transformative acquisition that fast-tracks our entry into the Canadian market and brings tremendous value to our shareholders,” said Andrew Bowden, CEO at Item 9 Labs Corp. “With an exponential increase in store count across North America, this acquisition would transition us from being a multi-state operator to an international cannabis company and the largest global cannabis franchisor.

“The potential to accelerate growth through both franchising and additional opportunistic acquisitions is immense. This is simply the first step to much deeper market penetration, both in Ontario and other provinces,” Bowden adds.

RELATED: 2022 Best Cannabis Companies to Work For – Item 9 Labs Corp.

Sessions expects continued growth across the Canadian market with multiple additional retail openings planned for later this year, according to a release, with annual sales totaling approximately CA$70 million across the 43 currently operating locations.

The New Jersey Cannabis Regulatory Commission (CRC) approved six additional adult-use cannabis retailers at its May 24 meeting, allowing more dispensaries to join the 13 that were given the green light to open when sales officially launched April 21.

RELATED: New Jersey Approves 7 Medical Cannabis Dispensaries to Serve Adult-Use Market

With this latest regulatory approval, adult-use sales are expected to launch at Curaleaf’s Edgewater Park location; Ayr Wellness’ locations in North Woodbridge, Union and Eatontown; TerraAscend’s location in Lodi; and Ascend’s location in Montclair, according to an NJ.com report.

Tuesday’s approval brings the total number of adult-use dispensaries in New Jersey to 18, the news outlet reported.

RELATED: New Jersey Reveals Sales Figures for First Day of Adult-Use Cannabis

It’s no secret that higher light intensities equate to higher yields. But for many indoor growers, bud-boosting light intensity and unwelcome photobleaching go hand in hand.

David Hawley, Ph.D., principal scientist for Fluence, explains that doesn’t have to be the case. By understanding the mechanism behind photobleaching and how light intensity and light quality relate, you can avoid photobleaching—even under high-intensity lighting.

What Is Photobleaching?

Hawley explains that photobleaching is simply what it seems: the literal bleaching of floral bud.

“When you look at the top of the cannabis canopy, you'll see that all of the upper inflorescences or colas or floral bud—whatever you like to call it—will be bleached white. They won't look green like you might expect them to,” he says.

The cause of that superficial bleaching lies underneath, where chlorophyll and other plant pigments have broken down. Hawley compares it to cell-damaging reactive oxygen species in humans—the reason behind urgings to consume antioxidants for health.

“It's actually a very similar mechanism as to what's happening with these chlorophylls in the plants,” he says.

When Jake Van Wingerden launched SunMed Growers’ first cannabis greenhouse in 2017, he brought a lifetime of horticultural experience to the table. A third-generation grower from one of ornamental horticulture’s most-celebrated families, Van Wingerden equipped the 70,000-square-foot Dutch-style greenhouse with supplemental high-pressure sodium (HPS) lighting.

Looking back on what’s now known as Phase One, Van Wingerden says budget drove the choice of HPS over light-emitting diode (LED) technology. With a finite amount of cash and a tight schedule, he was focused on meeting the project’s deadline. He recalls, “I honestly didn’t put too much thought into it—HPS or LED—because I wasn’t up to speed on the LED light world.” But his base of lighting knowledge soon changed.

Running Unintentional Lighting Trials

Coming from ornamental bedding plants, Van Wingerden wasn’t accustomed to running a 52-week-a-year crop under supplemental lights. As he puts it, “Maryland has many cloudy days, and wintertime light stinks most of the time.”

When SunMed cultivation launched and electric bills rolled in, lighting got his attention. But utility expenses weren’t the biggest eye opener as months progressed.

“That first year, we saw dramatic differences between our summertime crops and our wintertime crops as far as potencies and yields. So, it was very evident within the first year or year and a half that we needed to put more lights in here,” he recalls. “Go a week with no sun in the wintertime, you’re losing money.”

Van Wingerden soon started analyzing the benefits of LED lighting versus HPS. “It was a clear distinction, specifically in electrical usage,” he says. “Making the decision to go with LED was fairly easy.” Once he decided to supplement SunMed’s existing HPS lighting with LEDs, his vendor search led him to Fluence and a relationship that, like his cultivation facilities, has grown.

The Minnesota Legislature approved a suite of changes to the state’s hemp industry May 22, including legislation that will allow up to 5 mg of hemp-derived THC in food and beverages, according to the Star Tribune.

The bill allows the sale of the THC-infused products to adults 21 and older, the news outlet reported. The legislation aims to clear up a gray area in state law that legalized hemp and hemp extracts containing less than 0.3% delta-9 THC but left uncertainty regarding delta-8 THC, which has been widely sold in an unregulated market in Minnesota.

“Overall, I think it’s a way in which Minnesotans are going to be able to check out what it’s like to have legal products being sold on shelves in a non-gray market,” Kurtis Hanna, lobbyist for the Minnesota chapter of NORML, told the Star Tribune.

Additional law changes passed by the Legislature aim to crack down on delta-8 vapes by applying the 0.3% limit on THC to “any tetrahydrocannabinol,” according to the news outlet.

The Legislature also passed labeling and age requirements for CBD and THC products, the Star Tribune reported. The legislation requires edibles to be sold in child-proof, tamper-evident packages with a label that says, “Keep this product out of reach of children.”

On the strength of collaboration between legislative chambers as well as with the state’s governor, Rhode Island is positioned to cross the adult-use cannabis legalization finish line and launch commercial sales this year.

The reform momentum comes after state Sen. Joshua Miller and Rep. Scott Slater—both Democrats—advanced identical bills in their respective chambers, with lawmakers from each body passing the Rhode Island Cannabis Act behind overwhelming majorities on May 24.

The House passed the legislation on a 55-16 vote, while the Senate approved it on a 32-6 vote, sending the bill to Gov. Dan McKee’s desk. The Democratic executive is expected to sign it and make Rhode Island the 19th state to legalize adult-use cannabis.

“The act before us was introduced after months of collaboration between the House and the Senate, as well as numerous stakeholders,” Slater said Tuesday evening on the House floor. “We did this in collaboration with the governor’s office, the courts, the attorney general, the Office of Cannabis Regulation and the Department of Health.”

Slater and Miller first introduced the act in March but then unveiled a key amendment May 17, after considering written and verbal testimonies during the committee hearing process.

The underlying proposal did not change. The legislation still includes provisions to legalize the sale and possession of up to 1 ounce of cannabis by adults 21 and older, with no more than 10 ounces for personal use kept in a primary residence, to allow the home cultivation of up to six plants (three mature), and to regulate a licensed industry. But the amendment offered a new provision to provide automatic expungement of records for those with previous cannabis convictions.

SALINAS,Calif., May 25, 2022 (GLOBE NEWSWIRE) --PRESS RELEASE-- LowellFarms Inc. (CSE: LOWL; OTCQX: LOWLF), aCalifornia-born innovator in cannabis cultivation and maker of the legendarybrand Lowell Smokes, is announcing the acquisition of advanced pre-rollproduction equipment and capabilities from Canadian cannabis brand All Good Collective. Theacquisition will accelerate Lowell Farms’ ability to offer end-to-endautomation of large-scale pre-roll production.

“At Lowell, weare committed to bringing to market the absolute best cannabis smokingexperience possible and that journey led us to All Good Collective,” saysLowell Farms Inc. Chairman of the Board George Allen. “In addition to being afar superior product than anything we have seen in the category, the equipmentfrom All Good will allow us to scale production and achieve a pre-rollprice-point that rivals the cost of flower.”

As part of thetransaction, Lowell Farms Inc. will manufacture and sell All Good Collective’ssuccessful line of pre-rolls from Canada into the California cannabis market,where they will be sold alongside Lowell’s existing line of award-winningproducts. Lowell intends to offer production capacity to other cannabis brandsseeking to showcase their flower in this exciting new format.

Thetransaction will be treated as an asset acquisition. Lowell will issue acombination of stock and cash upon delivery of the equipment with anapproximate current value of US $4.1m as consideration. Lowell anticipates thatthe transaction will close this summer.

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BOSTON, May25, 2022 /PRNewswire/ --PRESS RELEASE-- Lantern, the leading on-demand cannabis e-commerce marketplace and home deliveryplatform in the U.S., today became the first marketplace to launch adult-usecannabis deliveries in Denver, Colorado. Lantern has been serving Coloradoconsumers since March 2021 when it became the first platform to launchon-demand delivery in Aurora.

Lantern's Denver marketplace is launching in partnership with localdispensaries including Frost and Strawberry Fields and their courier partner,Grn Bus. In Aurora, Lantern is also expanding its coverage with the launch ofits partnership with GoodChemistry. Customers over the age of 21 can now orderfrom a wide selection of high-quality cannabis products on LanternNow.com and have their favorite recreationalproducts delivered to their doorstep. The company has broadened its deliveryzone to two of the most populated cities in Colorado and is supported by acohesive network of business partners. Lantern was originally incubated out ofDrizly Group, the most popular and reliable online alcohol delivery platform inNorth America. Denver is Drizly's third largest market, and thewell-established consumer trust will provide a pathway for Lantern to buildtrust with Denver's cannabis community.

Following the launch, Lantern will add more local dispensaries over thesummer, with Colorado Harvest, Mighty Tree, and Higher Grade expected to beavailable in the coming months.

"We are excited to offer modern and personalized cannabis retailexperiences in one of the most established markets in the country," saidMeredith Mahoney, Co-founder and CEO of Lantern. "Lantern's latestexpansion is possible thanks to our reliable partners at Grn Bus, Frost,Strawberry Fields, and GoodChemistry. Collaborating with local businesses withdeep community relationships allows us to drive brand awareness organically andbuild long-lasting connections with new audiences."

Lantern is committed to working with community organizations to create acomprehensive social equity program that will benefit entrepreneurs throughoutthe country. Thus far, the company has launched social equity-focused incubatorprograms in Massachusetts, New Jersey and New York. In Denver, Lantern hascontinued to support The Color of Cannabis, an advocacy group that leads a10-week course to help entrepreneurs from underrepresented backgrounds navigatethe cannabis industry.

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BOCA RATON, Fla., May 25, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Jushi Holdings Inc., a vertically integrated, multi-state cannabis operator, has announced its financial results for the first quarter 2022 ended March 31, 2022. All financial information is provided in U.S. dollars unless otherwise indicated.

First Quarter 2022 Highlights

Total revenue of $61.9 million, an increase of 48.5% year-over-yearAdjusted gross profit(1) of $25.5 million, an increase of 33.1% year-over-yearNet loss of $14.3 millionAdjusted EBITDA(1) of $1.1 million, or 1.7% of revenueCash and cash equivalents were $76.2 million as of the quarter end

First Quarter 2022 Operational Highlights

Completed the acquisition of The Apothecarium(2) in Las Vegas, Nevada, an operating adult-use and medical retail dispensaryDebuted a series of cannabis brands and product launches in Massachusetts, beginning with the launch of flower brands The Bank and SèchèClosed a non-brokered private placement, for total proceeds of approximately $13.7 millionPlaced on The Globe and Mail’s Third-Annual Women Lead Here benchmark of executive gender diversityAnnounced that Jim Cacioppo, chief executive officer, chairman and founder, purchased 66,800 Class B Subordinate Voting Shares of the company in the open market for an approximate amount of $220,000

Recent Developments

Awarded a provisional medical marijuana dispensary license in Ohio, establishing the company's fifth vertically integrated state-level operationExpanded the company’s vertically integrated footprint in Nevada with the completion of the NuLeaf, Inc. acquisition, adding a 27,000-square-foot cultivation facility, 13,000-square-foot processing facility, and three adult-use and medical retail dispensaries in the stateLaunched the company’s first line of solventless cannabis extracts in the Pennsylvania market under its award-winning The Lab brand, comprised of high-quality live rosin vapes and concentratesOpened the 32nd retail location nationwide and 3rd BEYOND / HELLO dispensary in CaliforniaClosed on the purchase of land adjacent to the company's Toledo Ohio grow facility which will allow Jushi to significantly expand its cultivation footprint at the Ohio grow facility, subject to regulatory approvals

Management Commentary

“Despite the seasonal weakness in the first quarter and a series of challenges including the loss of store hours due to Omicron, snowstorms and the Pennsylvania distillate cartridges recall, I am pleased with our first quarter performance and the progress we have made in positioning our business for the long term,” said Cacioppo. “We remain focused on investing in our businesses, including building out our store base, significantly expanding our cultivation and processing facilities in both Pennsylvania and Virginia, scaling our wholesale channel in Massachusetts, Pennsylvania and Virginia, and integrating our two recently acquired businesses in Nevada. At the same time, we have taken decisive steps to manage our costs across all operating units and are encouraged by the initial results. I am confident that our investments into the business and the cost savings measures we have recently implemented position us to achieve accelerated growth and profitability through the balance of the year.”

Lakewood, Co. (May 24, 2022) – PRESS RELEASE – Ajoya is celebrating the grand opening and official ribbon cutting for the expansion of its Lakewood dispensary, which now includes an adult-use component. This dispensary is located two blocks west of Colfax and Kipling.

“Lakewood has been a great home for Ajoya and we’re grateful for the opportunity to expand our store there,” said Joey Gindi, CEO and co-founder of Ajoya. “With this expansion we’re not only providing the community with more job opportunities, we’re also creating a positive atmosphere for consumers and patients alike to purchase their medicine.”

This expanded dispensary, which is located two blocks west of Colfax and Kipling, will continue to serve medical patients and will now be able to accommodate adult-use consumers as well. It will feature special elements such as an express counter, a space for a future community garden out front for neighbors to take advantage of and a moss wall to bring a fresh, green component.

“Ajoya has made a commitment to support our community and we are delighted to participate in the ribbon cutting ceremony for the expansion,” said Madison MacDonald, vice president of the West Metro Chamber. “This dispensary has been a fantastic addition to Lakewood and we look forward to watching the company continue to thrive.”

This dispensary is approximately 3,500 square feet and boasts a unique and modern design, and was revamped by Roth Sheppard Architects. It is located at 11950 W. Colfax Ave. in Lakewood and is open 8 a.m. to 9:45 p.m. Monday through Saturday and 9 a.m. to 8 p.m. on Sunday. Ajoya is currently in search of a local artist to paint a large mural on the outer wall as well. To apply, please email [email protected].

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WAKEFIELD, Mass., May 24, 2022 – PRESS RELEASE – Curaleaf Holdings Inc., a leading international provider of consumer products in cannabis, announced that Tyneeha Rivers has been appointed to the role of Chief People Officer for Curaleaf, a new position.

The move follows the recent announcement of Matt Darin being named CEO, replacing Joe Bayern, who will be launching a new CPG focused division of the company.

Rivers will lead the company’s Human Resources department and help advance strategic HR operations, talent acquisition, talent management, diversity, equity and inclusion, leadership development, training programs, employee relationship management, compensation and benefits, job design and succession planning.  

Darin said, "This is an incredibly exciting time for Tyneeha to join us, and I am thrilled to welcome her to my executive leadership team. With over 20 years of global Human Resources expertise in senior positions for distinguished organizations, Tyneeha has a proven track record of building winning team cultures that positively impact business results. This is a critical focus for us at Curaleaf as we move the company forward. My goal is not only to be the leading global cannabis company, but also the place to be for the most talented, motivated, and passionate team members in the industry, bar none."

"I am honored to join the Curaleaf team at this exciting time in the company's evolution and rapid growth," Rivers said. "Curaleaf has established itself as a leader in the cannabis space, not just in revenue or retail footprint, but in talent and commitment. I look forward to partnering with the entire Curaleaf team to continue focusing on strategic HR operations and the investment in the company's people, without whom this exponential growth would not be possible."

Rivers brings more than 20 years of experience in corporate human resources, leading HR for various prominent organizations such as Merrill Lynch, Morgan Properties, The Galman Group, Philadelphia 76ers, Harris Blitzer Sports & Entertainment, Greater Philadelphia YMCA, and most recently, chief people officer at Curio Wellness. Rivers currently serves as board president of Second Chance Mission, an organization established to help survivors of substance abuse, domestic violence, bullying, life-altering illness, and other hardships.

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MIAMI, Florida, May 24, 2022 - PRESS RELEASE - Ayr Wellness Inc., a vertically integrated U.S. multi-state cannabis operator, announced that the New Jersey Cannabis Regulatory Commission (CRC) approved the company for adult-use cannabis sales in the Garden State.

Ayr currently operates medical dispensaries in Woodbridge, Union and Eatontown, located in Central New Jersey. The company's three retail locations are the maximum allowable dispensaries under current state law.

"We are thrilled to be approved for adult-use sales in New Jersey and to have all three dispensaries cleared simultaneously to open for adult-use," said Jonathan Sandelman, Ayr founder, chairman and CEO. "To date, Central Jersey has the lowest number of dispensaries per capita, leaving its population under-served compared with the rest of the state. New Jersey is expected to become a highly influential state for the U.S. cannabis industry, and we are honored to help shape the market landscape from its early stages."

"This is a significant milestone for Ayr, and I am so proud of our team for making it a reality," said Julie Winter, Ayr's vice president of retail operations in New Jersey. "We look forward to opening our doors to adult-use customers while continuing to provide excellent service, quality and choice to our medical patients."

Adult-use sales in New Jersey officially began five weeks ago. BDSA expects New Jersey to be the third-largest contributor to overall U.S. sales growth by 2026, projected to generate annual revenue of $2.3 billion in total legal cannabis sales.

For more information about Ayr Wellness, please visit https://ayrwellness.com.

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In rare form, a Democratic governor vetoed legislation that aims to legalize the possession of 1 ounce of cannabis for adults 21 and older in Delaware. 

Gov. John Carney, who is term-limited and cannot seek reelection in November 2024, sent House Bill 371 back to the state General Assembly without his signature on May 24.

That bill received three-fifths majority support in the House via a 26-14 vote May 5, as well as three-fifths majority support in the Senate via a 13-7 vote May 12, indicating that the legislation has enough clout behind it to override Carney’s veto.  

In a veto statement released Tuesday, Carney said he recognizes the positive effects that medical cannabis can have for people with certain health conditions and continues to support that industry in Delaware.  

“That said, I do not believe that promoting or expanding the use of recreational marijuana is in the best interests of the state of Delaware, especially our young people,” he said. “Questions about the long-term health and economic impacts of recreational marijuana use, as well as serious law enforcement concerns, remain unresolved.”

The vetoed legislation would not implement a commercial cultivation and retail industry but rather allow for the simple possession and transfer of 1 ounce or less of cannabis between those 21 and older, as long as no money is involved in the transfer.