MjLink Cannabis Business News and Press
PHOENIX, Arizona, Aug. 30, 2022 — PRESS RELEASE — TILT Holdings Inc., a global provider of cannabis business solutions that include inhalation technologies, cultivation, manufacturing, processing, brand development and retail, announced its subsidiary, Commonwealth Alternative Care, Inc. has passed its final inspection and received approval from the Massachusetts Cannabis Control Commission to commence operations for the medical use of cannabis at its Cambridge dispensary. The doors of the Cambridge dispensary will open Friday, Sept. 2. The store will be open 9:30 a.m. - 8:00 p.m. Monday through Wednesday and 9:30 a.m. to 8:30 p.m. Thursday through Sunday.
CAC’s Cambridge 5,100 square-foot dispensary, located at 1385 Cambridge Street in Inman Square, will offer a wide selection of products from TILT’s house brands, including flower, concentrates, edibles and topicals, as well as TILT’s cross-business collaborations such as the Jupiter CAC Infinity vaporizer. In addition, medical patients will have increased access to products from industry-leading partner brands including AIRO, Black Buddha Cannabis, Her Highness, Highsman, Old Pal, and Toast.
"Located right in the heart of Inman Square, we are excited to open the doors of our third medical dispensary in Massachusetts this week, just before the [long] holiday weekend," Gary Santo, TILT CEO, said. "Adding Cambridge to our existing retail facilities in Brockton and Taunton strengthens TILT’s position as a resource throughout patients’ cannabis journeys."
Santo added, "With the addition of home delivery at all of our locations, we are able to expand access to our distinctive portfolio of CAC and brand-partner products to those communities and beyond and look forward to welcoming new patients. We anticipate a grand opening celebration in September during Boston Cannabis Week."
]]>Wisconsin, Aug. 29, 2022 — The Indigenous Cannabis Industry Association launches today to promote the exploration, development and advancement of the cannabis industry for the benefit of all Indigenous communities. As a non-profit organization, ICIA is dedicated to the advocacy and empowerment of Indigenous cannabis businesses and aspiring entrepreneurs nationwide.
Founded by cannabis entrepreneur and member of the Bad River Band of the Lake Superior Tribe of Chippewa Indians Rob Pero, ICIA will create opportunities for Indigenous people in cannabis and empower the Indigenous community through policy, programming, and outreach initiatives.
“As stewards of environmental responsibility and with deep histories in agricultural expertise, Tribal governments and Indigenous people are uniquely positioned to add value to the cannabis industry,” said Pero, president of ICIA. “ICIA will help tribal communities and Indigenous entrepreneurs navigate the cannabis industry, preserve Tribal sovereignty, further economic opportunities, and bring their unique perspectives into the national conversations around policy, sustainability, and equity.”
While in 2016 the National Congress of American Indians passed a resolution approving cannabis production to promote tribal self-determination and self-governance, create job opportunities, strengthen tribal governance, and promote equity in the cannabis industry, the current legal landscape of the cannabis industry is complex. As federal legalization of cannabis looms in the future, ICIA seeks to provide critical certainty for Indian Country cannabis economic development and long-term strategic analysis by building data and information on Tribes in cannabis.
“We are working directly with local representatives to support fair implementation and enforcement of sensible cannabis policies in our home state of Wisconsin,” Pero said. “We will continue to empower the Indigenous community and provide resources to Tribal Nations to influence policy at the state and federal levels and work to be a conduit of information for the community at large.”
Members of ICIA are given access to ICIA’s network of Tribal Nations, industry partners, advocacy groups, mentors, businesses and aspiring entrepreneurs to help navigate the complex landscape of Tribal, state and federal policy and to provide resources for Tribal governments and Indigenous people to design and advocate for equitable cannabis policies.
MIAMI, Aug. 31, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Ayr Wellness Inc., a vertically integrated U.S. multi-state cannabis operator, announces the opening of its relocated Dania Beach store, offering an elevated patient experience.
The new store, located at 222 N Federal Hwy, Ste. 103, Dania Beach, FL 33004, is just over a mile away from the former location and moments away from the Fort Lauderdale–Hollywood International Airport and the major intersection of US-1 and A1A.
“We’re happy to reopen in Dania Beach, a community where we’ve received strong support from the local patient population, with our newly relocated dispensary. Patients who visited our former location will find an upgraded retail experience and an array of newly introduced products and brands, complementing the offerings they’ve come to love. The new location is indicative of the improvements we continue to make in our Florida operation, which includes our 50 retail locations and our suite of branded products,” said Jonathan Sandelman, founder and CEO of Ayr.
The new store spans more than 2,000+ square feet of retail space and offers patients an expansive menu, including brands and products from Ayr’s national portfolio, such as Kynd premium whole flower, Walking Stix pre-rolls, Entourage vapes and Secret Orchard vapes, distillates and edibles.
Ayr relocated its U.S. headquarters from New York City to Miami following it acquisition of Liberty Health Sciences in 2021, underscoring the company’s commitment to the region. Since the acquisition, Ayr has expanded its retail footprint by more than 60% and has introduced its suite of national brands and products to its dispensaries statewide. Today, Ayr Wellness proudly employs more than 745 people across the state of Florida, including corporate, retail and production positions.
BOSTON, Aug. 30, 2022 – PRESS RELEASE – Lantern, a leading on-demand cannabis e-commerce marketplace and home delivery platform in the U.S., introduced Ngiste Abebe as the seventh member of the company’s board of directors. In this role, she will assist the company as it strives to provide legal, convenient access to local cannabis dispensaries and products for adult-use consumers and medical patients.
Abebe is an immensely talented executive and cannabis advocate with more than a decade of knowledge in the public policy, health care and cannabis spheres. She currently serves as vice chair for the Virginia Cannabis Public Health Advisory Council, president of the New York Medical Cannabis Industry Association and vice president of public policy for Columbia Care. Additionally, Abebe volunteers as a board member for Virginia NORML, a nonprofit organization that works to reform cannabis laws for a safer commonwealth.
She has used her vast knowledge of cannabis and public policy to advocate for cannabis policy reform as a panelist and speaker at the Virginia Cannabis Conference, National Black Caucus of State Legislators, Black CannaBusiness Conference and Cannabis Business Times’ Cannabis Conference. Cannabis Business Times recognized Abebe’s work by inducting her into the inaugural Cannabis Leadership Awards class in August 2021.
She also received the Young Alumni Merit Award from the Carnegie Mellon Heinz School of Public Policy in October 2016.
“I am excited to join Lantern and continue to advocate for a more equitable cannabis space,” Abebe said. “Lantern is an innovator in the on-demand cannabis marketplace that is committed to building a more accessible industry while addressing the impact of the war on drugs. The company’s expansive social equity incubator programs are not only beneficial to the areas in which they operate, but they also provide a blueprint for others to follow in the future.”
Las Vegas, Aug. 30, 2022 – PRESS RELEASE – Mobius, a leading manufacturer of pharmaceutical-grade cannabis processing equipment, released a scaled-down cannabis mill that delivers the precision and grind quality of industrial mills at a lower price point.
The newly released M60 Mill draws technology from Mobius’s flagship M210 Mill. Both utilize slow rotational speeds to reduce heat degradation, and precision cutting matrixes to maintain uniform particle sizes without THC loss.
Precision milling is important because an inconsistent grind can adversely affect how ground cannabis packs within the cone, how it burns, and if the cone breaks during transport or consumption.
In a crowded market sector like pre-rolls, brands need to deliver consistent quality to survive and thrive.
“We’re excited to fit full-scale technology into our Mobius M60 Mill,” said Amanda James, director of strategy at Mobius. “It empowers smaller pre-roll and extract producers to achieve a top-quality grind at a much lower price point.”
Conventional cannabis mills destroy high-value cannabinoids (e.g., THC) by creating unnecessary heat. Mobius mills use low-friction internal mechanisms that prevent temperature elevation to optimize potency and smokeability.
Once again, voters’ will to effectuate policy change via a cannabis ballot measure hangs in the balance of a state’s supreme court decision ahead of the general election.
Just months before the 2022 election, the Oklahoma Supreme Court has declared authority to decide whether State Question 820, an adult-use cannabis ballot measure organized by Oklahomans for Sensible Marijuana Laws (OSML), meets the qualifications to appear on the ballot in November. OSML advocates have dubbed their effort the “Yes on 820 Campaign.”
But cannabis ballot initiatives left in state supreme courts’ hands in other cases have historically not fared well.
Two years ago, the Nebraska Supreme Court sided with opponents that a medical cannabis legalization measure violated the state’s single subject rule and could not appear on the 2020 ballot. That decision came after a signature campaign received the green light from the secretary of state.
In Mississippi, the Supreme Court overturned its voter-approved medical cannabis ballot initiative six months after the 2020 election. And South Dakota’s Supreme Court overturned a voter-approved adult-use ballot measure roughly a year after the 2020 election.
According to OSML advocates, the Oklahoma Supreme Court justices announced Aug. 30 that they are deferring a final decision on the ballot question until after a 10-day protest period under state law. The news came as a short-term win for reform proponents, OSML Campaign Director Michelle Tilley said in an Aug. 30 press release.
NEW YORK, Aug. 30, 2022 – PRESS RELEASE – Franchising is taking the cannabis industry by storm to help keep businesses locally owned and operated, with national franchise networks being built alongside the rapidly growing $24 billion market. The frontrunners, who are leading this charge, are the first-in from a franchising perspective and have the know-how to build franchise brands on a national scale in the U.S.; they are Unity Rd., the first cannabis franchisor, and Cannabis10X, a full-service franchise brokerage.
Founded by Jason Tropf and Holly Ford, experienced business owners and franchise executives, Cannabis10X is the world's first full-service cannabis franchise brokerage and is comprised of a world-class franchising team that has franchised household name brands such as 7/11, Five Guys, Panda Express, Sbarro's and thousands more.
“The barrier to entry is high in cannabis,” Ford said. “With our team of experienced franchise executives and our 50 in-house cannabis-trained brokers, we are breaking down that barrier brick by brick as we place investors and qualified operators into profitable franchise systems.”
Unity Rd. is the first true national cannabis dispensary franchise model in the United States. Backed by Item 9 Labs Corp.—a vertically integrated cannabis franchisor and operator that produces premium, award-winning products—the dispensary franchise pioneer is poised to lead the franchising space as the No. 1 cannabis brand in the country. Unity Rd. is 10X's newest cannabis client to benefit from its franchise brokerage services, utilizing support in growing its franchise network with qualified prospective entrepreneurs nationwide.
“For franchisees, having the opportunity to join a network like this is like having the chance to hop in a time machine and go back to the beginning of franchising to be one of the first franchisees in the country,” Tropf said. “This is an unparalleled opportunity that happens once in 100 years with the birth of a brand-new industry; similar to getting into the industrial revolution at its infancy or tech industry when the internet was still rolling out.”
Unity Rd. offers a guided route for cannabis entrepreneurs looking to enter and navigate the complex cannabis industry. Today, the fast-growing cannabis franchise has retail shops open in Boulder, Colo., and Denver; Hartford, S.D.; and Oklahoma City, with additional locations projected to open this year in Colorado and Maine, among other markets. Unity Rd. has a network of 20-plus entrepreneurial groups that are expanding the franchise across 10-plus states.
Las Vegas, NV, August 29, 2022—Cannabis Conference, the industry’s leading educational and expo event for plant-touching cannabis businesses, wrapped up Thursday after drawing 2,500 professionals to the Paris Las Vegas Hotel & Casino.
Held Aug. 23-25, the three-day event featured 40+ education sessions, 90+ expert speakers, and an 85,000-square-foot expo hall with nearly 200 exhibitors with industry-leading technologies.
Attendees from more than 30 countries gathered to network with and learn from top experts and leaders in the cannabis and hemp industries.
“If you’re not here, you’re missing a lot of it. You can read about these topics, and you can understand a lot of that through media, but you get a lot more by sitting down with someone and talking to them and seeing them and what’s in the passion they have for it,” said attendee Stan Wagner, owner of Bozeman Plan Room Inc.
Cannabis Conference panelists and presenters provided these quotable moments and highlights:
Cannabis sales figures are creeping up, and total taxes continue to dive in California.
That’s the big takeaway from the state’s cannabis tax revenues report for the second quarter of 2022, based on data updated Aug. 29 from the California Department of Tax and Fee Administration (CDTFA).
California’s taxable sales for adult-use cannabis eclipsed $1.2 billion in Q2, representing a 2.9% increase from the previous quarter. Meanwhile, the nearly $280 million in total taxes collected by the state in Q2 represents a 6.5% decrease from the previous quarter’s tax collection.
But does coupling sales increases with tax decreases mean struggling California cannabis operators who have been up against encroaching market obstacles are now headed toward greener pastures in one of the most overtaxed state markets in the U.S.?
The full picture has yet to play out amidst a host of regulatory changes under the barely 1-year-old Department of Cannabis Control, a continuous effort to license more retailers, and the zeroing out of the cultivation tax while shifting the excise tax collection to retail.
RELATED: California Eliminates Cannabis Cultivation Tax, Effective Immediately
After three days filled with more than 40 educational sessions, Cannabis Conference 2022 came to a close on Thursday.
In that time, nearly 100 different speakers covered a wide variety of topics, from cultivation and processing to retail and business.
While they offered numerous pieces of advice, some common threads appeared throughout the week. Here are five key takeaways from this year’s sessions.
1. Work with what you have.
Several panelists spoke to the importance of recognizing the bounds in which business owners are operating, both in terms of their facility and community. This can help them make crucial decisions along every step of the supply chain, from cultivation to retail. For example:
Panelists in the "Facility Design - Greenhouse” session agreed that when it comes to greenhouses, it is critical to understand your local environmental in order for your cultivation to succeed.In terms of processing, “you want to make sure the facility and property are taken into consideration. ... Your needs vs. what you already have in that facility,” said Crystal Hoffman, former regional director of operations of Slang Worldwide.At the retail level, Kate Miller, co-founder and CEO of Miss Grass, urged the audience to consider the community their brand is attracting before launching new products. This will help generate a sense of self, which is necessary for building an audience locally and, eventually, nationwide. Also, Amanda Ruge, co-founder of Flowspace Design, LLC, told the audience not to “underestimate the amount of space you are going to need for receiving and storage.”2. Choose who you work with carefully.
Some emphasized that doing business with the right people is essential. “We are less reliant on service providers,” said Mason Walker, co-owner and CEO of East Fork Cultivars, adding that while partners can be helpful, he has also had experience with bad partners, “so it’s one of the biggest benefits to our business to be able to be self-reliant.”
“There is no such thing as a good deal with a bad business partner,” said Obie Strickler, CEO of Grown Rogue.
Select social equity applicants for retailer, micro-cultivator and Equity Joint Venture licenses in Connecticut are moving forward in the license application review process.
The retailer and micro-cultivator license applicants were chosen through a Social Equity Lottery, have been approved by a Social Equity Council and have met general assembly requirements to qualify as social equity applicants, according to Connecticut’s Department of Consumer Protection (DCP).
The Social Equity Council has approved the following applicants, and the DCP has notified them to complete their next steps to receive licenses:
Equity Joint Venture (EJV) applicants do not go through lotteries, and any applicants who have been denied by the Social Equity Council can reapply, per the DCP.
EJVs are businesses that are at least 50%-owned and -controlled by a person or group who “had an average household income of less than 300 percent of, or three times, the state median household income over the last 3 tax years,” and either “was a resident of a disproportionately impacted area [DIA] for at least 5 of the past 10 years” or “was the resident of a [DIA] for at least 9 years before the age of 18,” according to state officials.
Micro-cultivators cultivate under 2,000 to 10,000 square feet of canopy and will be able to expand further upon licensure. (Visit this page for information about assistance for micro-cultivators through the Social Equity Council.)
The California Department of Cannabis Control (DCC) has announced that it has played a role in seizing more than $1 billion in a little more than a year.
The news follows recent enforcement in Los Angeles and Riverside Counties, according to an Aug. 25 enforcement update DCC provided to Cannabis Business Times attributed to its director, Nicole Elliott.
Since its creation via the consolidation of three agencies 13 months ago, the DCC’s law enforcement team has led and been involved in the issuance of 232 search warrants, the seizure of more than 500,000 pounds of illegal product and the eradication of more than 1.4 million cannabis plants, according to the update. As a result, more than $1 billion of cannabis product has been removed from the illicit cannabis market, as well as 120 illegal firearms and $2.3 million in illegally obtained assets.
Elliott stated in an announcement last month: “We want Californians to become more aware of the harms that come from the illicit market. A purchase from the illegal market can be a purchase in support of criminal and cartel operations that endanger consumer health, communities, destroy natural habitats, and threaten the viability of our legal operators. The illegal cannabis operations that we enforce against are not just engaging in illegal commercial cannabis activity, they are engaging in violence, human trafficking, water theft, animal cruelty and other forms of harmful criminal activity.”
The announcement of $1 billion in illicit cannabis product seized follows, among others, a seizure of more than 34,000 illicit cannabis plants in San Jacinto in late July, a seizure of more than 165,000 illicit cannabis plants in Mendocino County in mid-July, “Operation Hammer Strike” seizures in San Bernardino County, and “Operation Green Day" seizures in Stanislaus County.
In addition, DCC is working to improve consumer access to regulated cannabis and industry participation in the legal market, according to the Aug. 25 update, in part through $20 million in grants provided to various cities and counties.
]]>An advocacy group has begun a petition to put a medical cannabis ballot measure before Idaho voters in 2024.
The group behind the initiative, Kind Idaho, posted a Facebook Live video Aug. 16 in which they stated they had filed paperwork with the Idaho secretary of state and anticipate state officials to provide any requests for necessary changes to the paperwork in the next five weeks.
Kind Idaho also shared a photo of a letter that group Chair Jackee Winters and Treasurer Joseph Evans submitted to Secretary of State Lawerence Denney Aug. 16 in which they stated the initiative is “essentially identical” to one submitted by Kind Idaho two years ago.
The 2024 initiative proposes that medical cannabis patients in the state could possess up to 4 ounces of cannabis, according to Law360.
Dispensaries would need to be more than 1,000 feet from private and public schools, and local governments could further dictate zoning for cannabis businesses, according to the news outlet. A 4% excise tax would be attached to gross receipts for products sold by dispensaries, in addition to state and local taxes.
Patients with debilitating conditions such as cancer, Alzheimer’s disease and Crohn’s disease would qualify for medical cannabis, per Law360.
The U.S. Department of Justice (DOJ) and Drug Enforcement Agency (DEA) have awarded Maridose LLC a federal license to supply cannabis flower, cannabis extracts and THC for research and pharmaceutical applications.
The licensure represents “a step toward ending” a decades-long monopoly that the University of Mississippi has had on cannabis grown for research, according to a press release.
Maridose will cultivate cannabis, conduct research and develop products at a center in Brunswick Landing, Maine, according to the release.
“We are very excited to receive this license from the DEA to produce and sell cannabis for research purpose, this a huge step for science and the future of cannabis," Richard Shain, Maridose founder, said in a statement. "Our DEA Registration Number RM063095 is the culmination of over five years of working with the DEA and enables Maridose to legally sell a wide variety of cannabis products through the DEA to researchers and DEA-licensed pharmaceutical companies in the United States and internationally.
“The DEA has indicated that it will only issue a very limited number of them, and Maridose is proud to be one of the first companies to receive a license. Cannabis businesses operating in states that have state legal cannabis are unable to ship across state lines and operate at legal risk because cannabis remains a Schedule 1 substance at the federal level. Maridose is able to legally supply our customers without these risks and limitations."
]]>FERNDALE, Mich., Aug. 25, 2022 /PRNewswire/ -- PRESS RELEASE -- STIIIZY, the No. 1 cannabis brand nationally (source: BDSA), has opened its latest retail store, and its first in Michigan. Located in Ferndale near the M-1, also known as Woodward Ave, the store brings STIIIZY's industry-leading retail experience, safe access, and world-renown STIIIZY products to Michigan.
The opening of the new retail store follows STIIIZY's involvement in communities across Michigan. Last fall, STIIIZY and the Michigan Urban Farming Initiative (MUFI) hosted a "Grow Where You're Planted" event that provided sustainable gardening education to local children at MUFI's urban farm in Detroit. Earlier this year, STIIIZY partnered with the Miracle League, which removes barriers for children with mental and physical disabilities, to play baseball and kickball. STIIIZY also sponsored the first Annual "Kicking for a Cause" Charity Kickball Tournament in Orion township, which invited teams to compete both on the field, and in fundraising for a new accessible field in Friendship Park.
"STIIIZY is born from the community and we stay true to our roots. That's why working in Michigan's local communities over the past year has been so meaningful for us," said STIIIZY President Tak Sato. "Opening STIIIZY Ferndale and offering safe access to trusted STIIIZY products to Michigan consumers is a key milestone."
The STIIIZY Ferndale location meets customer demand for exclusive STIIIZY cannabis products and brand merchandise. The 9,866-square-foot store brings over 40 new jobs to the area. For Shryne Group, the vertically integrated company behind STIIIZY, these new jobs are a part of its commitment to strengthening the communities it serves.
STIIIZY Ferndale (state license number: AU-R-000587) is located at 642 E 9 Mile Rd #1b Ferndale MI 48220. On Saturday, doors will open at 10 a.m., however standard hours of operation are Monday through Sunday, 9:00 a.m. - 9:00 p.m. To order from the store online and for the latest brand and retail news, visit Stiiizy.com/retail.
PORTLAND, Ore., Aug. 25, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Grön (pronounced grewn), a woman-led producer of delicious, handcrafted cannabis-infused edibles, announced today the debut of its popular Sugar-Coated gummies at select cannabis dispensaries in the state of Missouri. The Oregon-based company, Grön enters the Missouri medical cannabis market with their signature line of expertly crafted gummy candies, Sugar-Coated Pearls and Mega Pearls.
“We’re excited to bring our most popular cannabis-infused edibles to Missouri and to offer our innovative, purpose-driven cannabinoid ratios to customers hungry for something new,” said Christine Smith, founder and CEO of Grön. “We think people are really going to love the quality and taste of our Pearls and Mega Pearls, and we look forward to connecting with the Missouri cannabis community.”
Bursting with real fruit flavor, Grön’s Sugar-Coated Pearls are gluten-free, soy-free, and infused with full-spectrum cannabis extract. Grön’s beautifully delicious Sugar-Coated Pearls are available in six flavors and ratios, with 10 Pearls per pack.
Five times larger than Grön’s standard Pearls, the Mega Pearl is a single sugar-coated gummy, perfect for customers looking for a high dose of THC in a small package. Mega Pearls are available in four flavors and ratios. See below for product and flavor descriptions.
Grön’s handcrafted edibles are available now in over 30 licensed cannabis dispensaries across Missouri. For a full list of retail locations, visit http://eatgron.com/where-to-buy/
BOCA RATON, Florida, August 25, 2022 - PRESS RELEASE - Jushi Holdings Inc., a vertically integrated, multi-state cannabis operator, announced the opening of its fourth medical cannabis dispensary in Virginia and 35th retail location nationwide. Providing an unparalleled in-store and digital retail experience via beyond-hello.com, Beyond Hello Fairfax will begin serving medical cannabis patients and registered agents on Wednesday, Aug. 31 at 10:00 a.m. The new store opening comes on the heels of the company opening Beyond Hello Alexandria, which began serving patients on Wednesday, July 27, 2022.
Located at 10521 Fairfax Blvd. in Fairfax near the corner of Lee Highway and Rt. 123 and just blocks from I-66, the new 10,500 square-foot free-standing building features 16 traditional and ten express patient checkouts, along with 45 parking spots with easy in-and-out access to improve patient convenience and accessibility. Jushi designed Beyond Hello Fairfax to serve a growing patient population while offering convenient transaction processing through the company’s online reservation platform–beyond-hello.com.
“Known for its hallmark landscaped and leafy street medians, Fairfax is recognized by Forbes as one of the top places to live in the nation. Beyond Hello Fairfax is in a prime location, located in close proximity to George Mason University, a host of shopping centers and independently owned retail shops in the heart of Northern Virginia, and nestled in the suburban expanse of the Washington, D.C. metro region. We are very excited to serve patients in this region and deliver a retail experience that exceeds expectations,” said Jim Cacioppo, Jushi CEO, chairman and founder.
Cacioppo continued, “On the retail side, we now have four dispensary locations open in Virginia, which have helped to broaden patient access, as well as set the bar for what world class dispensaries and next-gen digital shopping experiences should be. As for the operational side, in the second quarter, we completed phase one of the cultivation expansion of our grower-processor facility in Manassas. In the coming year, we look forward to opening up two more stores to continue to better serve the people of the Commonwealth.”
Joining the company’s Beyond Hello Manassas, Beyond Hello Sterling and Beyond Hello Alexandria locations, Beyond Hello Fairfax will serve patients and registered agents Monday through Saturday from 10:00 a.m. to 8:00 p.m. and on Sunday from 10:00 a.m. to 6:00 p.m. starting on Tuesday, Sept. 13th.
Beyond Hello Fairfax will provide patients with an efficient, accessible and safe experience that goes beyond the traditional cannabis dispensing environment. As part of this commitment to exceeding patients’ expectations, a licensed pharmacist, along with experienced, well-trained staff, will be on-site to dispense products, answer questions and provide service to patients and caregivers. This new location will offer dry leaf, concentrates, cartridges, tinctures, topicals, edibles, capsules, pills and various ancillary products such as approved batteries and devices, including The Lab, The Bank, Sèchè and Tasteology.
]]>EDMONTON, AB, Aug. 25, 2022 /CNW/ - PRESS RELEASE - Aurora Cannabis Inc., the a Canadian cannabis company, announced today that a wholly-owned subsidiary of the company has acquired a controlling interest in Bevo Agtech Inc. (Bevo), the sole parent of Bevo Farms Ltd., one of the largest suppliers of propagated vegetables and ornamental plants in North America (the Bevo Transaction). Concurrent with closing of the Bevo Transaction, Bevo entered into an agreement to acquire the company's Aurora Sky facility in Edmonton, Alberta through the acquisition of one of Aurora's wholly-owned subsidiaries (the Aurora Sky Transaction and together with the Bevo Transaction, the Transaction).
The Transaction allows Aurora to immediately benefit from a profitable, cash flow positive and growing business, and may have the potential to drive long term value to Aurora's existing cannabis business via the application of Bevo's industry leading plant propagation expertise. Aurora, through its wholly-owned subsidiary, will acquire 50.1% of Bevo's outstanding common shares, take a controlling position on Bevo's board of directors and financially consolidate Bevo. Bevo's experienced management team are to remain significant shareholders and stay in place to embark on a robust growth plan, including the use of the Aurora Sky facility for orchid cultivation and vegetable propagation.
Founded in 1986, Bevo operates 63 acres of greenhouse in British Columbia, Canada; is led by a management team with over 85 years of agricultural experience, and supplies greenhouses, nurseries, field farms and wholesalers. Bevo has consistently demonstrated growth in revenue and earnings over the past decade through process improvements and facility expansions. For the twelve months ended June 30, 2022, Bevo has achieved revenues of $39 million and Adjusted EBITDA of $9 million (excluding non-recurring rental revenue). Bevo's business exhibits seasonality driven by agricultural grow cycles, with the strongest financial period being from January to June.
Management Commentary
"This investment once again demonstrates our disciplined capital allocation approach and is consistent with both our short term needs and long-term vision to be the leading global cannabis company. Bevo's track record in generating not only positive Adjusted EBITDA but free cash flow, world class propagation expertise, and established distribution networks in Canada and the United States makes them an ideal strategic partner," said Miguel Martin, chief executive officer of Aurora. "We expect this investment and collaboration between industry leaders will drive significant shareholder value and synergies for both parties. We are also excited about Bevo repurposing Aurora Sky and the potential to expand the scale and scope of their business and saving significant costs previously expected in connection with the wind down and sale of the facility".
Leo Benne, president and CEO of Bevo, added, "Since inception, Bevo has taken great pride in utilizing state-of-the-art technology to become a leading plant propagator in North America. We are delighted to join forces with Aurora to pursue our high growth strategy, starting with our move into Alberta which allows us to significantly expand Bevo's addressable market. We are incredibly happy that the Aurora team is committed to keeping all of our facilities dedicated to our customer base, and to expanding our operations into Alberta through the addition of the Aurora Sky facility. It is clear that the Aurora team is deeply aligned with our existing business plans and objectives for profitable growth, and we look forward to building upon the strengths of Aurora as a sponsor to accelerate our business."
TORONTO, Aug. 25, 2022 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Tilray Brands, Inc., a global cannabis and consumer packaged goods company, today announced that its medical cannabis division, Tilray Medical, has released new medical cannabis products, under Tilray and Aphria brands and launched CannaPoints, a new program designed to support patients through their medical cannabis journey.
Blair MacNeil, President, Tilray Canada, said, "We’re proud to expand our medical cannabis portfolio in Canada and broaden our offerings for our growing patient community. Our new CannaPoints program serves to guide our patients on their medical cannabis journey and provide additional support as needed."
In Canada, Tilray Medical offers a broad portfolio of medical cannabis brands including Tilray, Aphria, Broken Coast, and Symbios. Understanding that patient needs are unique, Tilray Medical’s latest release of high-quality medical cannabis products from differentiated brands includes a comprehensive range of THC and CBD products:
Tilray:
Tilray Sinaloa Gold: A high THC sativa strain. Terpenes include d-Limonene, beta-Myrcene, and beta-Caryophyllene.Tilray Sapphire Scout: A genetic blend of Girl Scout Cookies crossed with True OG. Terpenes include Limonene, Linalool, and Trans-Caryophyllene.Tilray Chem Cookies: Chem Cookies is a result of two cannabis strains: Chemdawg #4 and Girl Scout Cookies (a.k.a. GSC). Terpenes include d-Limonene, beta-Myrcene, and beta-Caryophyllene.Tilray Powdered Donuts #8: Powdered Donuts #8 is a high-THC strain. Terpenes include d-Limonene, beta-Myrcene, and beta-Caryophyllene.Aphria:
New York’s Office of Cannabis Management (OCM) has announced where the first conditional adult-use dispensary licenses will be located based on state region. On Aug. 25, OCM began accepting applications.
Applicants for Conditional Adult Use Retail Dispensary (CAURD) licenses will select five New York regions where they prefer to locate a dispensary out of a total of 14 regions outlined by the state. The number of conditional adult-use dispensaries that will be located in each region is based on population, with Manhattan set to have the most with 22 and the Mohawk Valley set to have the least with 2.
Up to 150 CAURD licenses will be approved in the application round, according to OCM.
New York will issue the 150 CAURD licenses to social equity applicants who have been harmed by cannabis prohibition. A $200-million <a href="https://www.cannabisbusinesstimes.com/article/ny-social-equity-cannabis-investment-fund-advisory-board/">Social Equity Cannabis Investment Fund</a> developed by the state as part of its <a href="https://www.cannabisbusinesstimes.com/article/new-york-governor-announces-seeding-opportunity-initiative-social-equity-adult-use-cannabis/">Seeding Opportunity Initiative</a> will make loans available to these applicants.!function(){"use strict";window.addEventListener("message",(function(e){if(void 0!==e.data["datawrapper-height"]){var t=document.querySelectorAll("iframe");for(var a in e.data["datawrapper-height"])for(var r=0;r;r++){if(t[r].contentwindow===e.source)t[r].style.height=e.data["datawrapper-height"][a]+"px"}}}))}();New York will issue the 150 CAURD licenses to social equity applicants who have been harmed by cannabis prohibition. A $200-million Social Equity Cannabis Investment Fund developed by the state as part of its Seeding Opportunity Initiative will make loans available to these applicants.
CAURD applicants and licensees must prove they or a family member—a “parent, spouse, child, legal guardian, or dependent; or someone that they were the dependent of”—were arrested for a “marihuana-related offense” before March 31, 2021, according to OCM. They must also have owned at least 10% of a “qualifying business” and controlled it for two years.
Nonprofit applicants will also select their five preferential regions from the state’s list of 14 regions, and OCM will award up to 25 licenses to qualifying nonprofit applicants.
