MjLink Cannabis Business News and Press
TEMPE, ARIZ. and BOULDER, COLO. (December 2, 2022) – Connoisseur cannabis cultivation and extraction brand Green Dot Labs has announced a planned expansion into Arizona. Marking the premium brand’s first foray into a cannabis market outside of Colorado, the expansion will bring Green Dot Labs’ brand and operating platform–designed to exceed the highest standards for safety, responsibility and quality–to the state.
Known for its extensive library of proprietary strains, unrivaled flower and concentrates that offer a true reflection of the plant’s vivid flavors and effects, Green Dot Labs is the first and longest-running regulated cannabis brand focused on cultivating for concentrates and has inspired a devoted following among marijuana aficionados.
Established in 2014, Green Dot Labs was founded in Colorado and is the longest-running concentrates brand in the state’s legal, regulated cannabis industry. Commanding the No. 1 position in Colorado in the Concentrates category according to BDSA–a prime status among the country’s most discerning cannabis consumers–Green Dot Labs also holds the top position in Colorado for Live Resin and Live Resin Vape and leads the premium state’s premium cannabis segment.
“We are building a first of its kind, fourth generation cultivation and extraction platform armed with cutting edge technology and distinct operational advantages in Arizona,” said Green Dot Labs co-founder and Chief Creative Officer Dave Malone. “Our platform is driven by the unrivaled IP that we have developed over the last decade, allowing us to deliver the consistent, high-quality products that define the Green Dot Labs experience.”
First rising in prominence for its Live Resin products showcasing the plant’s distinctive exotic terpenes and flavors, Green Dot Labs recently launched its top-shelf flower line, respected for its meticulous cultivation processes to maximize terpene and cannabinoid content.
PRESS RELEASE - Helius Therapeutics has received Good Agricultural and Collection Practice (GACP) certification at its purpose-built medicinal cannabis facility in East Tamaki, Auckland.
Recognized globally, GACP is a leading certification standard for medicinal cannabis. It outlines minimum requirements for growers in creating high quality, consistent flower.
“Achieving GACP is another key milestone for the Helius team in our journey to full site certification. GACP is a well-recognized requirement for medicinal cannabis in many countries. Gaining this certification will only open more doors as we now unleash our export strategy,” says Carmen Doran, chief executive of Helius Therapeutics.
October was a month of audits for Helius. Notification of New Zealand’s largest medicinal cannabis company gaining GACP is the first in a series of announcements.
“This certification reinforces that Helius is a medicines company first and foremost. We are unleashing the power of cannabis to improve lives. Our research team’s primary focus is to unlock the global potential of medical-grade cannabis therapeutics, developed from New Zealand,” she says.
LAS VEGAS, Dec. 5, 2022 – PRESS RELEASE – Planet 13 Holdings Inc., a leading vertically integrated multistate cannabis company, announced that its subsidiary MM Development Company Inc. has received approval for a Nevada consumption lounge from the Nevada Cannabis Compliance Board. The Planet 13 Entertainment Complex will be the first-of-its-kind space where consumers can watch products being made, purchase and consume all under one roof. This luxurious, tourist-friendly lounge, close to the Las Vegas Strip, is expected to elevate the already incredible Planet 13 experience.
RELATED: Lotteries on Deck for Nevada’s Cannabis Consumption Lounges
"We are thrilled to be moving forward with our plan to bring a world-class cannabis consumption lounge next to the Las Vegas Strip," said Larry Scheffler, co-CEO of Planet 13. "Planet 13 has always been about offering new and one-of-a-kind immersive experiences for customers. We look forward to once again pushing the envelope and expanding people's minds about what cannabis can be."
For more information on Planet 13, visit the investor website.
International cannabis-infused edibles company Wana Brands’ mission is “to enhance people's lives through the power of cannabis.”
Nancy Whiteman, CEO of Wana Brands, says the company is living up to its mission even further through its recently developed $50-million charitable organization, Wana Brands Foundation (WBF).
WBF focuses its funding on initiatives such as research, education, food security, shelter, safety, mental health, sustainability, connection and social justice, Cannabis Business Times previously reported.
In October 2021, Canadian LP Canopy Growth Corporation announced its plan to acquire Wana Brands for $297.5 million in cash, and money from that deal was used to fund WBF, Whiteman says.
RELATED: Wana Brands, Six Months After the Canopy Deal: Q&A With Nancy Whiteman
"I really wanted to take a big chunk of that [money from the deal] and put it into something that allowed me to, first of all, give back to the industry, but give back to the world," Whiteman says.
Legislation to prepare for federal cannabis legalization now has a foothold in the U.S. Senate.
Sen. John Hickenlooper, D-Colo., formally filed the Preparing Regulators Effectively for a Post-Prohibition Adult-Use Regulated Environment (PREPARE) Act on Dec. 1 in the upper chamber. The bill directs the U.S. attorney general to develop a regulatory framework for when the federal government legalizes cannabis.
The bill is a Senate companion to an identical House version Reps. Dave Joyce, R-Ohio, Hakeem Jeffries, D-N.Y., and Brian Mast, R-Fla., filed in April.
“A decade after Colorado pioneered marijuana legalization, Americans overwhelmingly support the same at the federal level,” Hickenlooper said in a press release. “This bipartisan, bicameral framework, based on Colorado’s Amendment 64 Task Force, will replicate our success nationally.”
While Colorado was a guinea pig for adult-use cannabis legalization, with voter approval of Amendment 64 in November 2012 and the state’s subsequent January 2014 launch of commercial sales, lessons learned have served as a benchmark for legislators and regulators who have implemented adult-use reform measures in those footsteps.
Michigan Gov. Gretchen Whitmer announced that Brian Hanna has been promoted as executive director of the state’s Cannabis Regulatory Agency (CRA)
Hanna previously served as acting executive director for the CRA since September, and spent five years managing field operations, inspections and investigations, according to a press release.
“In my previous experience with the agency, I developed a deep appreciation for what makes the Michigan cannabis industry and CRA so special,” Hanna said. “I am excited to serve the residents of Michigan in this role and am honored to work with Governor Whitmer during her next term. My commitment to the CRA, and its many stakeholders, is to stay laser-focused on establishing Michigan as the national model for cannabis regulations. I am lucky to lead such a fine team that works very hard to serve this legitimate industry and its consumers.”
Hanna also previously served as a captain in the U.S. Army Reserve and worked as a criminal intelligence manager and analyst with Michigan State Police and as a deputy sheriff in Kalamazoo County, according to the release.
Shelly Edgerton, board chair of the Michigan Cannabis Manufacturers Association, said Hanna is the “right choice” for the role.
“His expertise in law enforcement, military background, and entrepreneurial spirit will serve the agency well as it looks to meet new goals in the future,” Edgerton said. “We are excited to see all he will accomplish.”
The Colorado Marijuana Enforcement Division (MED) adopted a bevy of new rules for the state industry, most which became effective Dec. 1. (See below for a full list.) Two specific rules—granting the ability to redesignate medical cannabis for adult use and requiring use-by dates and storage conditions—won’t be implemented until 2023 and 2024.
While enacted legislation led to the rules, the formal adoption comes after a summer and fall of “extensive” stakeholder engagement led by the division, which operates under the state’s Department of Revenue.
“As in previous years, the MED tackled significant topics during this year’s rulemaking session. While much of the MED's rulemaking is legislatively driven, we appreciate how the MED’s rulemaking design provides opportunities to hear from and collaborate with our diverse set of stakeholders,” MED Senior Director Dominique Mendiola said in a news release. “The significant contributions of our team and members of the public have been critical to informing both regulatory updates and improvements to existing rules and processes.”
Under the adopted redesignation rule, which will be implemented Jan. 1, 2023, a medical cannabis cultivation facility may transfer medical cannabis to an adult-use cannabis cultivation facility or accelerator cultivator in order to change the product’s designation from medical cannabis or adult-use cannabis. The rule was directed from Senate Bill 22-178, which clarifies that the adult-use cultivation facility is required to pay any retail cannabis excise tax on that transferred cannabis.
That rule comes on the heels of 2021 legislation allowing a licensee to change the designation of adult-use cannabis to medical cannabis under certain circumstances.
Beginning Jan. 1, 2024, meanwhile, all regulated cannabis products in Colorado must be labeled with a use-by date and storage conditions before selling to a patient or adult who is 21 or older.
Cannabis Business Times regularly interviews cannabis cultivators to learn more about how they manage their growing operations, including top tips for success, tools and technologies they couldn’t live without, and how they deal with perennial challenges like burnout. In this installment, Joe Gibson, head grower at Gibby's Garden, details how he took his skills from home growing to a professional level. Read more about Gibby's Garden in CBT's December issue.
Name: Joe Gibson
Company: Gibby's Garden
Location: Uxbridge, Mass.
Title: Head Grower
TORONTO, Dec. 2, 2022 – PRESS RELEASE – TerrAscend Corp., a leading North American cannabis operator, announced the appointment of Ira Duarte to its board of directors, effective immediately. In addition, Duarte will serve as the chair of the Audit Committee of the board.
Duarte is an accomplished senior finance professional with more than 25 years of experience in a variety of finance, accounting and auditing leadership roles. She currently serves as chief financial officer of Veloxis Pharmaceuticals Inc., a fully integrated specialty pharmaceutical company focused on the global development and commercialization of medications utilized by organ transplant patients.
Prior to joining Veloxis, Duarte served as senior director of corporate finance for Chiesi USA Inc. and director of accounting and financial planning for Cornerstone Therapeutics Inc., where she was a core member of the team that guided the sale of Cornerstone to Chiesi Farmaceutici S.p.A. Duarte previously held various roles from staff to senior manager at Ernst & Young Global Limited, where she was responsible for managing audits, Securities Exchange Commission filings, and initial public offerings services for clients. A certified public accountant, Duarte holds a bachelor’s in accounting from Florida Atlantic University.
"I'm delighted to be joining TerrAscend's board of directors at this exciting moment in the company's evolution," Duarte said. "The TerrAscend team has quickly established a reputation as a leading operator with strong growth potential. I look forward to supporting the Audit Committee on the financial reporting process and helping TerrAscend execute against its business strategy."
Jason Wild, executive chairman of TerrAscend, added, "We are thrilled to add Ira to TerrAscend's board and look forward to leveraging her extensive corporate finance experience as we continue to execute on our financially disciplined growth strategy."
]]>MIAMI, Florida., Dec. 02, 2022 - PRESS RELEASE - Ayr Wellness Inc., a vertically integrated U.S. multi-state cannabis operator, announced its three retail locations in New Jersey, formerly known as Garden State Dispensary, are now operating under the AYR dispensary name.
Since acquiring Garden State Dispensary in September 2021, Ayr has made significant progress in elevating key facets of the business, including improvements to the menu and overall retail experience. 2022 has been a pivotal year for the company in New Jersey, as it opened a large-scale cultivation expansion, launched adult-use sales at its three retail locations, the maximum allowed in the state, and introduced its national brand portfolio in the wholesale market and its retail stores.
“Our team has worked to enhance all areas of the business – launching sales to adult-use consumers, expanding our access to high-quality flower, improving our menus with the introduction of our national brand portfolio, and deepening our relationship with surrounding communities to further our Force for Good efforts,” said David Goubert, Ayr president. “Having made progress in these key areas, we’re now focused on building one-to-one relationships with our patients and customers as AYR. We are confident that this approach will further enhance our excellent customer experience and overall success.”
Ayr’s three New Jersey dispensaries are in prime locations in Woodbridge, Union, and Eatontown, all within Central New Jersey, a region of 3.4 million people. The transition to the AYR name marks a significant milestone for the company in its journey to bring its retail vision to life across its national footprint. The newly transitioned New Jersey locations join Massachusetts and Pennsylvania as AYR-branded stores, with its Florida stores to transition in Spring 2023.
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.
]]>TALLAHASSEE, Florida, Dec. 2, 2022 - PRESS RELEASE - Trulieve Cannabis Corp. announced the opening of a new medical dispensary in Hobe Sound, Fla. Located at 10835 SE Federal Hwy., the doors opened at 9 a.m. Dec. 2, with ongoing hours of 9 a.m. to 9 p.m. from Monday through Saturday and 10 a.m. to 8 p.m. on Sunday.
Grand opening festivities at the new dispensary will include numerous partner giveaways, music, food trucks, deals and specials, and all registered patients will receive a 25% discount. Trulieve also offers statewide home delivery, convenient online ordering and in-store pickup. As always, all first-time guests are eligible for a 50% new customer discount at any Florida-based location.
"Trulieve is thrilled to open a new dispensary in Hobe Sound and continue expanding access to medical marijuana for Florida's patient population," said Trulieve's Chief Executive Officer Kim Rivers. "The company is driven by a commitment being active in the communities we serve and providing tailored, high-quality care and exceptional customer experiences."
Trulieve patients across Florida can choose from a large selection of THC and CBD products available in a variety of consumption methods, including smokable flower, concentrates, edibles, capsules, syringes, tinctures, topical creams, vaporizers, and more.
Designed to meet every patient's needs, Trulieves portfolio of in-house brands includes Alchemy, Co2lors, Cultivar Collection, Modern Flower, Momenta, Muse, Roll One and Sweet Talk. Patients can also access beloved brands such as Bellamy Brothers, Bhang, Binske, Blue River, Black Tuna, DeLisioso, Khalifa Kush, Love's Oven, Miami Mango, O.pen and Sunshine Cannabis, all available exclusively at Trulieve in Florida.
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Over 50,000 valid petition signatures have been collected to place an adult-use legalization measure on the 2024 ballot in Florida.
The initiative, “Adult Personal Use of Marijuana,” sponsored by political committee Smart & State Florida, would allow adults 21 years or older to possess, purchase, or consume adult-use cannabis.
The measure would also allow “Medical Marijuana Treatment Centers and other state licensed entities to acquire, cultivate, process, manufacture, sell, and distribute such products and accessories,” according to the proposal text.
The initiative has received 53,702 valid signatures, but to qualify for the 2024 ballot, Smart & State Florida must submit 837,887 additional signatures and receive approval on the proposal from the Florida Supreme Court.
In addition, the signatures for a constitutional amendment in Florida must include 8% of the votes cast in the last presidential election. The state also “has a signature distribution requirement, which requires that signatures equaling at least 8% of the district-wide vote in the last presidential election be collected from at least half (14) of the state’s 27 congressional districts,” according to Ballotpedia.
All valid signatures must be submitted by Feb. 1, 2024.
]]>Rhode Island joined neighboring Massachusetts and beat next-door Connecticut to the punch with the launch of adult-use cannabis sales Thursday morning, officially becoming the 16th state to expand commercial access to those 21 and older.
Five existing compassion centers were given approval from the state’s Office of Cannabis Regulation (OCR) to commence adult-use sales Dec. 1 with hybrid retail licenses:
Mother Earth was the first to open its doors with a 5 a.m. start in Pawtucket, and Karen Ballou, who owns Cultivating RI, a licensed cultivator, was the dispensary’s first adult-use customer, WPRI reported.
“It’s very exciting; it’s been a long time coming,” Ballou told the news outlet about taking part in the first adult-use sale in the state. “It’s been a long six, six and a half years for me to get to this point, for all of us to get to this point, so it was important to be the first sale.”
While Rhode Island became the 16th state to launch a commercial adult-use retail program, it was the 19th state to legalize adult-use cannabis in the U.S. when Gov. Dan McKee signed the Rhode Island Cannabis Act on May 25, 2022. The legislation allows adults 21 and older to purchase up to 1 ounce of cannabis at a time and keep no more than 10 ounces for personal use at a primary residence. In addition, the legislation legalized the home cultivation of up to six plants (three mature).
The roughly six-month turnaround from legalization to sales represents one of the fastest adult-use rollouts in the nation. Arizona, which legalized adult-use cannabis in the November 2020 election, launched sales less than three months later (Jan. 22, 2021).
TORONTO, Nov. 30, 2022 – PRESS RELEASE – TerrAscend Corp., a North American cannabis operator, announced that its subsidiary, WDB Holding MI Inc., and all subsidiaries of TerrAscend (collectively, the “borrowers”), refinanced the existing senior secured term loan of $55 million previously announced on Nov. 22, 2021 (the "Michigan loan"), pursuant to an amendment. The amendment provides for a senior secured term loan with a principal amount of $25 million, plus incremental term loans of $30 million at the option of TerrAscend and subject to consents from the required lenders for an aggregate amount of $55 million. On Nov. 29, 2022, the borrowers repaid $55 million outstanding principal amount under the original Michigan loan, using $30 million of cash on hand and $25 million through borrowing pursuant to the amendment. Chicago Atlantic Admin LLC serves as administrative agent for the lenders under the Michigan loan and as collateral agent for the secured parties thereto.
Pursuant to the amendment, the Michigan loan bears interest on $25 million at a per annum rate equal to the greater of (i) the U.S. "prime rate" plus 6%, and (ii) 13%. The Michigan loan, as amended, matures on Nov. 1, 2024. No prepayment fees are owed if the company voluntarily prepays the loan after 18 months. The additional $30 million incremental term loans available under the amendment have not been drawn at this time.
"We appreciate Chicago Atlantic's flexibility in helping structure an optimal outcome for TerrAscend," TerrAscend Executive Chairman Jason Wild said. "This refinancing exemplifies TerrAscend's focus on reducing expenses, including interest expense, while driving sales growth and continued positive cash flow from operations."
John Mazarakis, partner at Chicago Atlantic, said, "Since the beginning of Chicago Atlantic and TerrAscend's relationship upon the Gage business combination, we have been impressed with TerrAscend management's execution and vision, and we are pleased to continue our relationship with them through this facility."
]]>The Maine Office of Cannabis Policy issued a letter to the industry Nov. 30 to say that regulators will cease enforcement of residency requirements for the state’s cannabis dispensaries and caregivers.
The move follows an August court ruling that the state’s residency requirement for cannabis business owners is unconstitutional.
A First Circuit Court of Appeals panel ruled 2-1 Aug. 17 to uphold a Maine federal judge’s August 2021 decision that overturned the residency requirement.
The state then appealed the ruling.
(LOS ANGELES, CA; November 15, 2022) -- Grenco Science, (G Pen), the leader in advanced cannabis vaporization technology, today announces the release of the G Pen Hyer®, a portable and intuitively designed e-nail engineered to deliver best-in-class flavor and vapor production for serious enthusiasts and novices, alike. The G Pen Hyer launched November 15 in stores nationwide and online at gpen.com.
On the heels of the acquisition of Vapium, the G Pen Hyer pays homage to Hyer’s cutting edge performance with the introduction of the most advanced e-nail hybrid on the market. Engineered to maximize flavor profiles, the G Pen Hyer features smart heating technology with constant temperature output allowing for a consistent and efficient experience with every session. The G Pen Hyer houses a powerful heating element in a lightweight anodized aluminum casing for concentrate or dry herb consumption that can pair with any glass-on-glass water piece.
“We are thrilled on the first launch of G Pen Hyer under the acquisition of Vapium. Combining Hyer’s advanced engineering with the premiere design of Grenco Science allows us to continue bringing best in class products to market while maintaining the integrity and foundation of both brands," says Chris Folkerts, CEO of Grenco Science.
COLUMBIA, Maryland, Dec. 1, 2022 - PRESS RELEASE - Remedy cannabis dispensary opened a 10,000 square foot Superstore Dec. 1 located at 8865 Stanford Blvd in Columbia, Md.
Remedy's goal is to create a welcoming, open, entertaining, yet informative and comfortable environment. The new larger space will offer unique experiential events for the cannabis community. The open floor plan is designed to deliver a store-within-a-store (SWAS) model allowing patients and future adult-use consumers to explore brands and products in a one-of-a-kind dispensary experience.
"We are very excited to have one of the largest retail footprints in the state of Maryland," said Remedy co-CEO and President, Brandon Barksdale. "Our new superstore will elevate the dispensary experience on all levels with product selection, promotions, industry-leading customer loyalty programs, and much more. Our store-within-a-store concept allows for a deep bench of brand selection, product exclusivity, and the most robust menu in the state. This unique concept will provide patients and recreational consumers alike with access to new products coming to market as part of their normal shopping experience."
Partnerships with significant national, household-name cannabis operators, such as Cookies, Green Thumb Industries, SunMed, Trulieve, Curio Wellness, and Holistic Industries, set Remedy apart from other retailers unlocking billions of dollars of brand power in Maryland. Much like branded beauty counters in traditional department stores, this retail concept will bring the biggest names in cannabis to Maryland.
"With adult use on the horizon, this move will ready Remedy to share the dispensary experience comfortably with the broader consumers as they enter the market. Truly, we will have the best prices and best selection in the state. Patients and future guests of Remedy will need to explore and engage with us weekly to keep up," said Remedy Co-Founder and Co-CEO, Mitch Trellis. "I speak for the entire Remedy family when I say we are excited to offer this retail experience to the Maryland market and look forward to continuing to be the market leader in cannabis retail."
The original Remedy Columbia location at 6656 Dobbin Rd will be moving to Stanford Blvd. This new location will be more convenient and offer more parking.
]]>LOS ANGELES, California, Dec. 1, 2022 - PRESS RELEASE - Haven Dispensaries, a rapidly expanding southern California dispensary chain, is opening its new Porterville location Dec. 2.
Porterville's cannabis program, which began back in 2019, culminates with the opening of Haven Dispensary, located at 1 W. Morton Ave, on the corner of W. Morton Ave and N. Main St. in Downtown Porterville.
Haven is one of California's preeminent cannabis dispensary organizations with a track record of quickly becoming foundational community partners to all the cities in which it operates.
Although the Haven shopping experience is world-class, Haven prides itself on giving back to the community year-round. Haven Hearts, the charitable arm of Haven, is dedicated to helping the less fortunate and does amazing work identifying areas of need in the cities where it operates and pooling its resources to become a force for good. From its advocacy efforts, to its charitable donations and frequent volunteerism, Haven Hearts is already looking to make an impact and become a valuable member of the Porterville community.
"We are elated to call Porterville home. The community has already been so welcoming. We are chomping at the bit to open our doors and provide the residents of Porterville with safe, quality access and cannabis education that they deserve," said Johnnie Hernandez, head of retail for Haven Dispensaries.
The Porterville store will be Haven's seventh location, with another seven licenses currently in development. Haven stores offer a unique dispensary experience that curates a safe space for all to explore and enjoy the world of cannabis.
]]>A Clark County judge ruled in September that the Nevada State Board of Pharmacy must remove cannabis from the state’s list of Schedule I substances, but regulators aren’t ready to do so just yet.
Clark County District Judge Joe Hardy issued the ruling Sept. 14 in a lawsuit filed by the ACLU of Nevada, which sued on behalf of Antoinette Poole, who was convicted of possession of a controlled substance for possessing cannabis.
The Board of Pharmacy argued that since the federal government lists cannabis as a Schedule I drug, the state should as well, despite Nevada legalizing cannabis for both medical and adult use.
Hardy ultimately ruled that listing cannabis as a Schedule I drug conflicts with the state Constitution, which states that cannabis has medical uses after Nevada voters passed a ballot measure to legalize medical cannabis in 2000. The state then legalized adult-use cannabis in the 2016 election.
The Canadian government announced in September that it has launched a review of its adult-use cannabis legalization law, the Cannabis Act, which took effect in 2018.
Now, government officials have named the members of the panel charged with conducting the review, which was mandated by the Cannabis Act.
RELATED: Canada Launches Review of Cannabis Legalization
The five-member Expert Panel includes:
Morris Rosenberg, chair of the Expert Panel who previously served in several departments within the Canadian government, including the Department of Justice and the Department of Consumer and Corporate AffairsDr. Oyedeji Ayonrinde, associate professor in the departments of Psychiatry and Psychology at Queen’s UniversityDr. Patricia Conrod, a registered clinical psychologist, full professor in the Department of Psychiatry and Addiction at the University of Montreal, and researcher at the Sainte-Justine Mother and Child University Hospital Centre (CHUSJ)Lynda Levesque, a criminal lawyer and member of the Fisher River Cree Nation in Manitoba, Treaty Five territoryDr. Peter Selby, the Giblon Professor, Vice Chair of Research, and Head of the Mental Health and Addictions Division in the Department of Family and Community Medicine, University of TorontoAs mandated by the Cannabis Act, the review will assess the legislation and its administration and operation, including the law’s impact on the illicit market, indigenous communities and the economy.
