MjLink Cannabis Business News and Press

AUSTIN, Texas (Sept. 14, 2022)—Texas Original, Texas’ leading medical cannabis provider, announced its first product specifically designed to help qualifying patients who suffer from insomnia, night terrors or restlessness as a result of various medical conditions. The Sweet Dreams sleep gummy will be available to the company’s state-leading patient network in October.

Sweet Dreams is the first Texas Original product to incorporate cannabinol (CBN), a minor cannabinoid known for its sedative properties. It is also Texas Original’s first gummy containing terpenes—active chemical compounds that provide therapeutic effects for patients. Months in the making, the Texas Original product team performed multiple rounds of development trials to ensure the gummy’s effects and efficacy meet the highest levels of quality and consistency patients expect from the company’s exemplary gummy products. The Texas-inspired dewberry-flavored gummies will be available in 30-count packages formulated with 5 mg of CBN, 10 mg of THC and targeted rest terpenes in each gummy.

“Sleep is the bedrock of our health. But for many, sleep is often disrupted or damaged by the effects of PTSD, cancer and other debilitating conditions,” said Morris Denton, CEO of Texas Original. “We want to make sure every patient who struggles with sleep has several high-quality, trusted medical cannabis options to rely on. Hundreds of our patients have told us they are sleeping better than ever due to the power of medical cannabis. We encourage all patients who struggle with sleep to talk to their doctors about the Sweet Dreams gummy.”

Like all Texas Original gummy products, Sweet Dreams gummies are crafted with nanoemulsion technology for a faster onset time to induce quicker symptom relief. Patients can expect to feel the initial treatment effects as soon as 15 minutes after consumption—which is up to eight times faster than alternative CBN products in Texas. Texas Original gummies are also vegan and use natural food coloring and dyes.

“Our medical cannabis is expertly cultivated, meticulously extracted and rigorously tested to ensure every product we package is of the highest quality and efficacy,” said Kelly Roland, president of Texas Original. “One of the most important tenets of our production process is consistency. Patients suffering from sleep-related symptoms can count on our products to be the same week after week—to make sure that every night’s sleep is a good night’s sleep. Our fast-acting Sweet Dreams formulation incorporates CBN and targeted rest terpenes, along with THC, to help accomplish that goal.”

With 12 pickup sites and two full-time retail locations throughout the state—the largest distribution network of any provider—Texas Original’s Sweet Dreams gummies will be conveniently available to patients on a daily or weekly basis. To learn whether you or a loved one qualifies for medical cannabis in Texas, visit www.texasoriginal.com/patients.

Cannabis consumption lounges are one step closer to becoming a reality in Nevada.

The Nevada Cannabis Control Board (CCB) announced Sept. 14 that it will accept applications for consumption lounges beginning at 8 a.m. Oct. 14 and ending at 5 p.m. Oct. 27. Applications must be submitted in the Accela Cannabis Customer Portal.

CCB officials approved regulations governing consumption lounges in June, roughly one year after Nevada Gov. Steve Sisolak signed legislation to legalize consumption lounges.

RELATED: Cannabis Lounges Likely to Broaden Las Vegas Tourism Appeal

A “yes” to consumption lounges is a decision that was in limbo in Nevada for years, as lounges “showed promise as part of a Las Vegas ordinance back in 2017 and again in 2019, but due to setbacks and political debates from the rival gaming industry, the legislation never became a reality,” Cannabis Business Times previously reported.

LANSING, Mich.,Sept. 15, 2022 – PRESS RELEASE – Michigan Gov. Gretchen Whitmer announcedthe appointment of Brian Hanna as acting executive director of the CannabisRegulatory Agency (CRA). Effective Sept. 19, Hanna will join the CRA, bringingextensive experience to fill this vital role within the Whitmer-GilchristAdministration.  

“I am thrilled towelcome Brian Hanna as the new acting executive director of the CannabisRegulatory Agency, where he will continue putting Michiganders first, growingour economy and creating jobs,” Whitmer said. “The state of Michigan and theCRA are at the forefront of the nation’s hemp and marijuana industry, settingthe standard for stimulating business growth and preserving secure consumeraccess to cannabis. A win for the industry is a win for Michiganders becauseits tax revenue allows us to invest back into our schools, roads, and otheressential services that make a real difference in our communities. I amconfident Brian will serve as an excellent leader as the CRA continuesestablishing Michigan as the national model for cannabis regulations.”

Hanna’sprevious service in the Marijuana Regulatory Agency, now CRA, under formerExecutive Director Andrew Brisbo will ensure he continues the mission andongoing work of the agency. Hanna spent five years with the CRA as the managerof field operations, inspections and investigations. He has a law enforcementand military background, having previously worked as a criminal intelligencemanager and analyst with MSP and as a deputy sheriff for Kalamazoo County.

He alsoserved as a captain in the United States Army Reserve with a combat deploymentto Afghanistan from 2010-2011. Hanna holds a Bachelor of Arts in CriminalJustice from Western Michigan University and an associate degree in lawenforcement from Kalamazoo Valley Community College.  

“Iam excited to return to the Cannabis Regulatory Agency and am grateful for thisopportunity,” Hanna said. “I look forward to reconnecting with stakeholders toensure we have a clear and concise regulatory framework for oversight of thisindustry to promote continued growth in Michigan. I also look forward toworking with the administration and our legislative partners wherever possibleto continue providing safe products to consumers. I’m honored that Gov. Whitmerhas appointed me to lead this important agency and look forward to getting towork.” 

A legal battle over a cannabis cultivation facility worth more than $30 million in Shelton, Wash., alleges an acquiring company’s former directors stole the property and business in a breach of fiduciary duties, conversion and unjust enrichment.

The lawsuit was filed Sept. 13 by boutique litigation law firm Dovel & Luner in the Superior Court of Mason County on behalf of Agrios Global and its wholly owned subsidiary, Timberland Bay Properties.

Founded in 2017 in Vancouver, British Columbia, Agrios leases and manages properties and equipment to eco-sustainable agronomy and provides services to support all aspects of aeroponic cultivation in the cannabis sector. Timberland is its limited liability subsidiary in Washington.

The lawsuit names former Agrios directors and Timberland officers James Foster and Christopher Kennedy as defendants in the case, which stems from Agrios’ 2018 acquisition of the Shelton facility for roughly $20 million. The title to the facility was held in Timberland’s name.

Foster was the board chairman at Agrios, while Kennedy was the CEO.

Foster previously owned the Shelton facility before Agrios acquired it in 2018. That transaction allowed Foster to invest in Agrios without providing cash in exchange for approximately 26% of the shares in the publicly traded company.

The Vermont Cannabis Control Board (CCB) issued its first round of cannabis retail licenses Sept. 14 to businesses in Rutland, Middlebury and Burlington. 

The CCB awarded the retail licenses to Mountain Girl Cannabis in Rutland and FLORA Cannabis in Middlebury and granted one integrated license to CeresMED medical cannabis dispensary in Burlington. Mountain Girl Cannabis was the first social equity applicant to receive a retail license.

The integrated license allows CeresMED to engage in “all activities allowed under all current adult-use licenses,” including cultivation, manufacturing, testing and distribution.

RELATED: Vermont Licenses 7 More Adult-Use Cannabis Businesses

In April, CeresMED stated if it was awarded a license, it would plan to open an adult-use storefront by October—right on the mark for when adult-use sales are expected to launch Oct. 1.

While the CCB released the retail licenses two weeks ahead of schedule, it noted that it recognizes not everyone may be able to engage in the market this year due to it missing its initial May 1 deadline to begin issuing licenses.

Cookies has partnered with New York-based Cirona Labs to reformulate its on-the-shelf cannabis products.

Cirona Labs, with its focus on emulsion chemistry and food science, will work with Cookies to develop new products and expand the company’s footprint in hemp-derived cannabinoids, according to a release.

“Cirona Labs has demonstrated best-in-class technology for infusing cannabinoids into all types of products,” said Parker Berling, president of Cookies. “We’ve been impressed by its scientific approach to innovation in our industry and we know our customers will be impressed by the taste and efficacy of its creations.”

Cookies plans to launch a range of infused products later this fall, including beverages, capsules, tinctures and topicals. The products will each contain a variety of cannabinoids and terpenes supported by Cirona’s research and development of emulsions and powders.

“Cookies built a loyal fanbase because of its high-quality flower product. This same fanbase is just as discerning when it comes to new methods of consumption that utilize the latest infusion technology,” said Hunter Friedland, founder and CEO of Cirona Labs. “This project has been an exciting challenge for our team, as we were tasked with developing custom emulsions for several different formats. This partnership validates the need for precise water-soluble ingredients backed by science.”

CLACKAMAS, Ore., Sept. 15, 2022 – PRESS RELEASE – Wyld, a best-selling cannabis edibles brand in the U.S., launched its product offerings in Oklahoma. The Sooner State becomes the eighth state in the U.S. to offer Wyld products, joining Oregon, California, Colorado, Nevada, Arizona, Michigan and Washington. 

Patients have access to Wyld’s expansive product offerings at a growing number of medical cannabis dispensaries across Oklahoma. Wyld’s 100-milligram-per-container lineup offers sativa-, indica- and hybrid-enhanced edibles in the following flavors: raspberry, huckleberry, marionberry, pomegranate, pear, elderberry, sour apple and sour cherry. In addition, the high-dose lineup supplies sativa-enhanced raspberry and indica-enhanced marionberry edibles as 1,000-milligram-per-container products. Strawberry 20:1 CBD:THC + hybrid enhanced and Peach 2:1 + hybrid enhanced edibles will also be available as 100-milligram-per-container products in the future.

“Oklahoma is the first state in the south-central region to welcome Wyld products. The state’s medical cannabis program gives us lots of opportunities for growth,” Wyld CEO Aaron Morris, said. “As the demand for edibles continues to advance across the country, Wyld plans to be in three more markets by the beginning of 2023. We know that people want high quality, consistent edibles, and we’re the ones to bring that.”

The company’s expansion into Oklahoma follows the launch of Wyld Sours earlier this year. Wyld’s sour gummy offerings are available in Oregon, California, Colorado, Nevada, Arizona, Michigan and Washington. Additionally, Wyld has become a Climate Neutral Certified cannabis company. For more information regarding Wyld’s product offerings, availability and sustainability initiatives, visit www.wyldcanna.com/. 

Small cannabis producers may be able to ship and sell products within and across state lines under a new congressional bill introduced by Representative Jared Huffman (CA-02).

The measure, known as the Small and Homestead Independent Producers (SHIP) Act, is targeted to support small cannabis cultivators and manufacturers by allowing them to ship products directly to consumers and “provide them the certainty to sustain their businesses under a larger federal legalization law,” according to a release.

“Too often, the federal government falls behind, and the gears of Congress work too slowly to keep up with the pace of a changing economy,” Huffman said. “Under my bill, folks in our state will be able to ship their products straight to consumers when the antiquated federal prohibition on cannabis is finally repealed. As large, commercial cannabis operations squeeze out local producers from the market, this legislation is critical for farmers to survive and expand their small businesses. We cannot leave our smallest family farmers behind under full legalization.”

According to the bill text, a “small cultivator of marijuana’’ is defined as someone who grows 22,000 square feet or less of cannabis in a greenhouse, one acre or less using outdoor cultivation, or 5,000 square feet or less using indoor cultivation. A "small manufacturer of a marijuana product’’ is an individual who produces manufactured cannabis products and earns less than $5 million of annual gross revenue.

The measure would take effect once cannabis is removed from the Control Substances Act and once prior cannabis convictions are expunged, according to the bill text.

Ross Gordon, policy director of Humboldt County Growers Alliance (HCGA) and policy chair of Origins Council, said direct-to-consumer shipping is an essential tool “that enables a diversified market to survive and thrive.” He added, “The SHIP Act moves the conversation beyond the question of who can get a license to cultivate cannabis and addresses the practical reality of building an equitable and accessible market for small cannabis producers.”

Michigan’s adult-use cannabis market presented a win-win for retailers and shoppers alike in August. For cultivators and wholesalers? Maybe not so much. 

Not only did last month feature a record of $189.4 million in adult-use sales statewide, but customer wallets benefitted from an all-time low price of $116.84 per ounce on average for dried flower, according to data released Sept. 14 from the state’s Cannabis Regulatory Agency (CRA).

Through the first eight months of 2022, licensed adult-use retailers recorded $1.25 billion in statewide sales, representing a 56% increase from the same eight-month period last year.

An uptick in demand has been the main driver of that sales growth. For instance, in August 2022, licensed retailers sold more than 49,000 pounds of dried flower to adult-use customers statewide, representing a 186% increase from the 17,150 pounds sold in August 2021.

So, despite the average price per ounce at retail dropping more than 47% from August 2021 to August 2022, overall sales figures have increased by nearly 51% because more products are being moved across the counter and into the bags of those 21 and older.

But with prices dipping to record lows, smaller growers told state regulators during the CRA’s quarterly meeting Sept. 14 in Lansing that they worry larger operators are in a “race to the bottom,” which is making it more and more difficult to compete for certain industry players, MLive.com reported.

The city of Boston currently boasts 14 licensed dispensaries, but a proposal from the mayor’s office may allow a rush of new retail businesses to set up shop.

Mayor Michelle Wu recently announced plans to cut the city’s Zoning Board of Appeal (ZBA) from the cannabis dispensary approval process. Typically, both the ZBA and the Boston Cannabis Board would offer local approval (or not) to prospective business owners. From there, the business would proceed onto the state level.

Under this proposed code amendment, the Boston Cannabis Board alone would decide the local fate of eager cannabis retailers.

At a public hearing earlier this month, officials from the mayoral administration insisted that this change will streamline the overall licensing process. Business owners and neighbors alike would have a clearer understanding of how cannabis might fit into the local economic development landscape. The main idea, according to Bryan Glascock, a deputy director at the Boston Planning and Development Agency, is to simplify the regulatory context for this emerging market within the city.

Prospective business owners, by and large, support the move.

“Please, end the system of double jeopardy,” equity applicant Jody Mendoza said at the hearing, according to the Boston Globe. His dispensary plans were rejected by the ZBA after his business had already won a license. “Equity applicants have the highest hill to get over, but when [we’re] faced with going in front of the ZBA, it’s another opportunity for people to come out and stop us. Please end the confusion and give us a chance.” 

More than 94% of California’s existing cannabis cultivation area is at risk of experiencing wildfires by year 2100, according to a report published by researchers at the University of California, Berkeley.

The report, “The threat of wildfire is unique to cannabis among agricultural sectors in California,” was published in the journal Ecosphere.

“Nearly all of the state's cannabis cultivation area (94.40%) was located in areas identified as projected burn pattern hot spots (new/intensifying, historical/persistent, sporadic/oscillating, or diminishing hot spots) for the prediction period 2020–2100,” the report states. “No other agricultural type exceeded 25% of cultivation area in these burn pattern categories.”

Furthermore, the report states that the geography of California’s cannabis cultivation may only inflame wildfire issues for cultivators, saying the “remote, hilly, forested areas” that the state’s legacy operators have long held are more fire-prone than other areas.

Even in more populated locations across the state, such as the Central Coast, the threat of wildfires still remains of high concern.

The report notes that the top three cannabis-producing counties on the Central Coast have a majority of their farms located in zones classified as persistent, new or intensifying wildfire hot spots. Santa Barbara County, in particular—the top cannabis-producing county in California, per the report—has more than 95% of its cannabis farms located in new or intensifying hot spot zones.

Missouri voters will have their say on adult-use cannabis legalization this November after the state’s Supreme Court decided Sept. 13 it won’t interject.

The Missouri Supreme Court’s decision to remain on the sideline comes after Joy Sweeney, a resident of Jefferson City, Mo., who serves on the Community Anti-Drug Coalitions of America, filed a lawsuit Aug. 19 in an attempt to remove the measure from the state ballot. The suit claimed Legal Missouri 2022 (LM22) did not gather enough valid signatures and that the group’s initiative deals with too many policy changes in violation of state law.

The lawsuit was supported by Protect Our Kids, a political action committee (PAC) formed by Luke Niforatos of Smart Approaches to Marijuana (SAM), a notorious prohibitionist group.

Missouri’s Supreme Court justices denied taking on the case after Cole County Circuit Judge Cotton Walker dismissed Sweeney’s lawsuit, and after the Missouri Western District Court of Appeals ruled Sept. 12 that Secretary of State Jay Ashcroft correctly certified the initiative petition as sufficient, and correctly directed that the initiative appear on the Nov. 8 ballot. 

RELATED: 6 States That Could Legalize Cannabis Through 2022 Ballot Measures

The initiative’s organizers submitted roughly 400,000 signatures for their petition, and state officials certified 214,535 of them—well exceeding the 184,720 valid signatures required to appear on the ballot.

LONDON, England, Sept. 14, 2022 - PRESS RELEASE -International medical cannabis platform company Akanda Corp. announced an exclusive license agreement with international cannabis lifestyle brand Cookies. The multi-year agreement enables Akanda to pursue the current medical and future adult-use opportunities in Europe with one of the best-known cannabis brands and highest quality genetics in the world.

Under the terms of the license agreement, Akanda gains the ability to cultivate, manufacture and distribute Cookies strains, and the rights to sell Cookies branded products, including non-cannabis merchandise, in Portugal.

Akanda intends to initially produce EU good manufacturing practice (GMP) certified Cookies branded high THC medical cannabis products at its flagship indoor premium cultivation and manufacturing facility in Sintra, Portugal. Additionally, Akanda can exclusively open and operate flagship Cookies branded pharmacy outlets throughout the country.

Cookies currently has over 53 retail locations spanning five total countries, including 12 states in the U.S., selling lifestyle apparel as well as recreational and medicinal cannabis products as regulations allow.

“Adding the iconic Cookies brand and their high THC strains to Akanda’s platform is an important catalyst in our quest to lead the cannabis industry in Europe. Cookies premium genetics are an essential pillar to have in our portfolio as these markets begin to open up. We can’t wait to introduce the brand to consumers in Portugal, and strains to patients throughout Europe,” said Akanda’s CEO Tej Virk.

“The fact that Portugal decriminalized drugs back in the early 2000’s and people in the U.S. are still being locked up for cannabis 20 years later, shows the world, especially the U.S., that we can learn a lot from their forward thinking. The partners we chose in Portugal have one of the most advanced facilities I’ve seen and will be producing some of the best cannabis in the world. It’s partnerships like this that keep me excited about the growth and expansion of Cookies worldwide,” said Berner (Gilbert Milam), American rapper and entrepreneur and co-founder and CEO of Cookies.

Troy University's Center for Materials and Manufacturing Sciences in Alabama and the National Hemp Growers Cooperative (NHGC), a Mississippi-based hemp organization, have partnered to research and develop using hemp fibers in biodegradable plastics.

The partnership will help NHGC create more market opportunities for its members, as well as open the door for the university to develop similar partnerships in the future.

"The use of bio-based plastics is full of potential, in particular for the U.S. automotive industry. Industrial hemp is already proven to be an excellent source for bio-based plastics, but we need to create even more uses by blending with recyclable plastics," Nick Walters, NHGC managing partner, said in a press release.

Walter also expressed that the cooperative is excited to develop a long-lasting relationship with the university, as it works "to create more market opportunities for [its] grower-members while developing biodegradable plastics."

Steven Taylor, Ph.D., dean of Troy University’s College of Arts and Sciences, also expressed his excitement for the partnership, stating that it helps the Center for Materials and Manufacturing Science achieve its ultimate goal: "to offer solutions to real-world problems."

"It's not so much about what the NHGC leadership needs; it's what their members might need. Their goal is to try to help the farmers grow the product and have a market for the product; therefore, they need products to make," Taylor said. "This also gives us the possibility of multiple partners, a place to start and branch out from. It's the first step toward the center having real connectivity outside of the university and may give us synergy beyond what projects we alone can generate."

Oregon’s mature cannabis market appears to be slimming down in a correction from the fat-and-happy trends of late 2020 and early 2021.

In August 2022, the state’s adult-use cannabis flower prices hit an all-time low at retail and remained near an all-time low at wholesale, displaying no indications for a meaningful comeback anytime soon. 

The median retail price for dried flower was $118 per ounce last month, a 27% decrease from the $161 per ounce that was commanded during COVID-19 pandemic peaks in September 2020, according to data from the Oregon Liquor and Cannabis Commission (OLCC).  

And Oregon’s median price for dried cannabis flower sent from an adult-use wholesaler (non-producer) to an adult-use retailer was $493 per pound last month, representing a 62% decrease from the $1,299-per-pound pandemic peak in September 2020.

“One thing that I’d point out is that producers in Oregon can self-distribute,” OLCC Director of Analytics and Research TJ Sheehy told Cannabis Business Times earlier this year, shortly after state officials implemented a licensing moratorium in April. “So, the wholesaler to retailer would not capture that self-distribution, which, if you look at producers, that’s at a higher price point when they’re going to retailers.”

Adding self-distribution into the mix, Oregon’s median wholesale price of dried flower sent from non-producers and producers to adult-use retailers was $696 per pound in August, representing a 53% decrease from the $1,470-per-pound median price in September 2020. While Sheehy said that price point is more representative of the overall wholesale market, the same general downward trend remains.

New Frontier Data promoted Dr. Amanda Reiman as its new chief knowledge officer.

Reiman, who joined New Frontier Data in January as vice president of public policy research, is a social ethnobotanist with more than 20 years of experience studying the relationship between cannabis, people and society, according to a release. She earned her PhD from the University of California, Berkeley, and her experience also includes roles with Berkeley Patients Group, the Drug Policy Alliance, and Flow Cannabis Co.

“I joined New Frontier Data because I believe in the team’s work to bring unbiased, vetted data to an industry that needs it,” Reiman said. “I look forward to the opportunity to oversee the amazing team responsible for this research and help further the cannabis industry with actionable insights that inform key stakeholders at every level.”

Reiman assumes the title of chief knowledge officer following the appointment of John Kagia as director of policy for New York’s Office of Cannabis Management.

“New Frontier Data is in the fortunate position of being able to promote Amanda Reiman to chief knowledge officer following her exemplary tenure as VP, Public Policy and Research,” said Gary Allen, CEO of New Frontier Data. “Amanda is one of the few who could follow in the footsteps of John Kagia, an original employee of New Frontier Data and an esteemed industry thought leader whose appointment at this historic moment in New York’s industry will continue to pay dividends for the cannabis industry for years to come.”

SAN DIEGO, California, September 13, 2022 - PRESS RELEASE - Hempacco Co., Inc. (HPCO), a vertically integrated hemp manufacturing company, commenced sales of Cheech & Chong-branded hemp smokable products during the third quarter of 2022 under its previously announced 50/50 joint venture.

In January 2022, Hempacco entered into a joint venture agreement with Cheech and Chong's Cannabis Company (CCCC). Hempacco debuted its initial line of Cheech & Chong-branded hemp smokables and hemp blunt wraps products, as well as a Cheech & Chong-branded kiosk vending machine, with Tommy Chong, at the Tobacco Plus Expo in Las Vegas in January.

Tommy Chong exclaimed, "Throughout my career, I've always been against cigarette smoking, and now I'm proud to release the next best thing to smoking cannabis, and that's hemp!"

"We are thrilled to begin sales under this JV with Cheech & Chong," said Sandro Piancone, founder and CEO of Hempacco. "We are working with CCCC's CEO, Jonathan Black, to develop several unique products, including three blends in smokables and our hemp blunt wraps, and look forward to ramping sales as we leverage Cheech & Chong's well-known brand."

"Attracting partners like Hempacco with great products is one of the many great outcomes of working with an iconic brand like Cheech and Chong," Black said. "We are excited about the potential of this partnership and look forward to working together to develop and deliver more exciting products to the market."

"Sandro and I always dreamt of working with Cheech & Chong," said Jorge Olson, co-founder and CMO of Hempacco. "We thought from the very beginnings of Hempacco that a Cheech & Chong Hemp Smokable would be an incredible product, marketed to a baked-in customer base, and now we've brought that vision to reality."

Canadian MMA fighter and medical cannabis patient Elias Theodorou, the first professional athlete to obtain and compete with a Therapeutic Use Exemption (TUE) for medical cannabis in North America, passed away on September 11 from Stage 4 colon cancer. He was 34.

Theodorou obtained his TUE in January 2020 after a four-year fight to prove how opioids and other prescription painkillers negatively impacted his martial arts training. He fought two fights, one in Victoria, British Columbia, and the other in Greeley, Colo., under this exemption.

Theodorou’s family released the following statement on Sept. 12 via the fighter’s publicist, Jessica Moran:

“Elias ‘The Spartan’ Theodorou answered his final bell yesterday, September 11th, 2022. He passed peacefully at home with his family and loved ones in his corner after a hard-fought fight with colon cancer that metastasized. He faced his end as he lived his life: eternally, irrationally, and infectiously optimistic.”

Beyond his personal use, Theodorou was an ardent supporter of medical cannabis access for athletes. He was a member of Athletes for CARE (A4C), a nonprofit organization advocating for the health, safety and wellbeing of athletes globally by improving health and wellness options for those living with mental and physical illnesses including chronic pain, depression, anxiety, PTSD, CTE, TBI, substance abuse and opioid dependency.

“Elias paved the way for future athletes,” A4C shared in a statement to Cannabis Business Times. “A4C is built off of mostly retired athletes who were pretty hurt by the sport they were in. Elias was one of the few active athletes working with the organization. Everyone at A4C believes in cannabis as a therapeutic option, and he was the leader of the pack with that group. He’ll be sorely missed as a base case.

SANTA ANA, California, Sept. 13, 2022 - PRESS RELEASE - Unrivaled Brands, a multi-state vertically integrated cannabis company with operations in California and Oregon, named Patty Chan as interim chief financial officer effective Sept. 12, 2022.

The appointment of Chan is a powerful addition to the executive team that Sabas Carrillo promised when he was named interim chief executive officer on Aug. 12. “Patty brings the talent and leadership required for this moment at Unrivaled. Her extensive forensic accounting experience will be instrumental in effectively addressing certain litigation and claims alleged against Unrivaled,” Sabas said. “Once again, per the company’s engagement with Adnant, we are able to add to the puissance of a formidable team at no additional cost to the company.”

Chan has over 14 years of accounting, financial reporting, compliance, and operational experience across the cannabis, real estate, and financial services industries. Before entering the cannabis and CBD industries, she accrued nearly ten years of experience managing forensic accounting engagements for business litigation, supervising and conducting fraud investigations, and preparing forensic analysis of complex financial transactions.  

She is also a seasoned chief financial officer having previously served as CFO for Upexi Inc. f/k/a Grove Inc., a manufacturing, distribution, wholesale and retail company in the CBD industry. Prior to that company’s initial public offering, she was part of the team overseeing their business model transition, equity fundraising, and go-public efforts.

Chan now serves as a manager at Adnant, LLC, an accounting and consulting firm advising cannabis companies on technical and operational accounting, strategic transactions, and the public offering process. At Adnant, she focuses on advising hypergrowth clients on their operations and audit preparation, as well as managing the accounting and reporting for cannabis investment funds. She has also implemented financial controls and infrastructure for cannabis clients in various stages of their business development. She and the Adnant team will bring strategic finance, accounting, and operational experience to Unrivaled.

“Patty has the experience to make tough decisions and the foresight to capitalize on opportunity. Her instincts and fearlessness will be part of Unrivaled’s transformation story," Sabas said.

NEW YORK, Sept. 13, 2022 – PRESS RELEASE – Azucarera El Viejo announced that it has entered into an agreement with Merida Capital Holdings LLC, a leading cannabis private equity firm with more than 75 companies in its portfolio, to build a world-class medical cannabis cultivation, manufacturing and finished goods production facility on its land in Guanacaste, Costa Rica.

With the passage of Expediente No. 21.388, Costa Rica has legalized the use of cannabis for medical and therapeutic purposes and is in the process of creating regulations around medical cannabis as well as hemp as a food additive. Expediente No. 21.388 is designed specifically to offer Costa Rica’s population an alternative to traditional pharmaceuticals by allowing patients access to medical cannabis as a treatment for a variety of ailments and conditions, as well as therapeutic use for those suffering from chronic conditions. 

By partnering with an established leader in medical cannabis investments, El Viejo will bolster its leadership position in the agricultural production industry by adding medical cannabis to its diverse portfolio that includes both sugar and other finished goods. 

“We are thrilled to partner with Merida and to bring premier industry knowledge and experience to our production in Costa Rica,” said Alfonso Gomez, vice president of Azucarera El Viejo.

Tapping El Viejo’s leading cogeneration and carbon-friendly methods as well as Merida’s vast experience in building medical cannabis facilities, El Viejo and Merida intend to create a sustainable cultivation and production campus that aims to help smaller operators bring products to market for the benefit of Costa Rican patients. 

“El Viejo’s presence as a well-respected and established operator in both the agricultural and finished goods industries is a perfect complement to Merida’s medical cannabis focus,” said Mitch Baruchowitz, managing partner of Merida Capital Holdings.