Tennessee Marijuana News

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A monthslong legal battle between a pair of multistate cannabis operators over a definitive acquisition agreement is on its way to being resolved.

New York-based Ascend Wellness Holdings Inc. (AWH) announced May 11 that it signed a term sheet to settle a lawsuit against Los Angeles-based MedMen Enterprises Inc. and acquire 99.99% controlling interest in subsidiary MedMen New York Inc. (MMNY) for $88 million—$15 million more than originally considered.

The filings in the lawsuit stemmed from an earlier $73-million definitive investment agreement between the two companies on Feb. 25, 2021. One of New York’s 10 licenses to distribute medical cannabis was on the table in that agreement.

But MedMen officials backed out of the deal, announcing Jan. 3, 2022, their decision to terminate the investment agreement just weeks after the two companies received final approval from the New York Cannabis Control Board and the state’s Office of Cannabis Management for the acquisition, sparking legal claims.

RELATED: Ascend Wellness Files Amended Complaint Against MedMen

To settle the dispute, Ascend officials announced Wednesday that they will increase the transaction consideration by $15 million, $4 million of which is contingent on the start of adult-use sales at an MMNY dispensary.

“We

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MIAMI, May 12, 2022 (GLOBE NEWSWIRE) — Ayr Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“Ayr” or the “Company”), a leading vertically integrated U.S. multi-state cannabis operator (MSO), today announced the opening of its 47th Florida dispensary, located in Clermont, a western suburb of Orlando.

The new dispensary spans 4,000 square feet of retail space and is located near Clermont Historical Village. The store features Ayr’s full line of concentrates, edibles, gummies, vapes, and a selection of high-quality flower, including newly launched Kynd whole flower offerings and Walking STiX pre-rolls.

“We continue to open stores in Florida at a rapid pace, with today’s opening marking 47 locations across the state,” said Jonathan Sandelman, Founder, Chairman and CEO of Ayr. “The expansion of our Florida footprint, combined with the continued rollout of our national brands like Kynd, STiX and Entourage, positions us well to continue to capture market share throughout the Sunshine State.”

In February 2021, Ayr purchased Florida-based Liberty Health Sciences (“LHS” or “Liberty”), which included 31 dispensaries across the state. Since then, the Company has opened 16 additional locations – bringing the current total to 47 stores.

In 2021, Ayr relocated its U.S. headquarters from New York City to Miami,

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– Adds 2 high-performing dispensaries in limited license locations

Glass House Brands Logo (CNW Group/Glass House Brands Inc.)

Glass House Brands Logo (CNW Group/Glass House Brands Inc.)

– Adds 1 additional store which will open imminently in a limited license location

– Increases Glass House’s projected 2022 operational California dispensary footprint to 10 locations

– Secures $10M additional draw to existing senior secured loan commitment

– Glass House has the potential to reach a revenue run rate of US$200M+ within the next 12 months1

LONG BEACH, Calif. and TORONTO, May 12, 2022 /CNW/ – Glass House Brands Inc. (“Glass House” or the “Company”) (NEO: GLAS.A.U) (NEO: GLAS.WT.U) (OTCQX: GLASF) (OTCQX: GHBWF), one of the fastest-growing, vertically-integrated cannabis companies in the U.S., today announced that it has executed definitive agreements (the “Agreements”) to acquire 100% of the equity interests in three retail assets: two operating retail dispensaries and one retail dispensary slated to open in Q3 2022.

The retail dispensaries currently operate under the name Natural Healing Center (“NHC”), one of the pre-eminent retail dispensary chains in California, located in the Central Coast area. The two operating retail dispensaries had revenue of $15.3 million2 from April 2021 through March 2022 (the “Measurement Period”) with EBITDA margins above 20%.2,3 Glass House is acquiring the two operating

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Jushi Holdings Inc. JUSH JUSHF is expanding its retail footprint in California with the opening of its 32nd retail location nationally and third dispensary in the Golden State.

Meet BEYOND / HELLO, Grover Beach, located between Ocean and Pismo Beach at 923 Huber Street, which is the fourth and final retail dispensary permitted in the city of Grover Beach.

BEYOND / HELLO Grover Beach will open its doors to consumers and medical marijuana patients on Friday, May 13 at 10:00 a.m. The store also features options for online ordering through its website as well as nine point-of-sale systems, including two express checkouts and 27 on-site parking spots.

Cannabis Tourism Is Back

“With an annual tourist population of approximately 2.2 million and many of the surrounding municipalities prohibiting retail cannabis dispensaries from operating, Grover Beach presents a key market opportunity for Jushi,” said Jim Cacioppo, Jushi CEO, chairman and founder. “We are excited to expand access to this thriving beach town and region and look forward to strategically expanding our footprint in California with the opening of an additional retail location in Culver City.” 

Exceptional Location – All Welcome

The location provides Californians with an efficient, accessible and safe experience that goes beyond the traditional cannabis retail environment. Jushi is known for having experienced well-trained staff on-site to help

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You no longer need a medical card to legally get high on cannabis in Maryland.

The state spent years setting up a medical cannabis industry that is tightly regulated at every step from seed to sale. Dispensaries, processors and cultivators spent millions of dollars creating an entirely new industry under the impression that everyone would compete under the same rules.

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Now, anyone can walk into one of hundreds of CBD stores, head shops and gas stations across the state and legally buy a cannabis-derived product that has a psychoactive effect similar to a gummy from a dispensary.

It’s called Delta-8.

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Delta-8 is one of more than a hundred closely related compounds found in the cannabis plant called cannabinoids. Its chemical structure is nearly identical to THC, the main psychoactive component in cannabis.

Delta-8 is found in small amounts in hemp. It’s legal thanks to a loophole in federal legislation that passed in 2018. And it’s virtually unregulated. As a result, it’s generally cheaper than the cannabis sold at dispensaries. And it’s rapidly grown into an industry that some estimate has $50 million of annual revenue in Maryland — if not more.

Critics and users alike are concerned that it could pose a public health risk. More

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May 12, 2022, 9:27amUpdated 17m ago

By: News 12 Staff

An adult-use dispensary in Burlington County originally set to open for recreational use Friday had to pull out last minute due to a discrepancy with the town.

Curaleaf, which also operates an adult-use dispensary in Bellmawr in Camden County, says it’s still working with the municipality in Edgewater Park to allow for recreational sales.

The dispensary is currently only open to medical patients.

There were flashing signs and a police presence in the parking lot to let customers know it is not open for recreational sales just yet.

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Carroll County is getting its first medical marijuana dispensary.

Osage Creek Dispensary, owned by Berryville resident Jay Trulove, received approval from the Arkansas Medical Marijuana Commission on Thursday, May 5, to transfer from its location in Fayetteville to 101 E. Van Buren near downtown Eureka Springs.

“We just think there’s a pretty large gap between [dispensaries] in Northwest Arkansas and Mountain Home,” Trulove said. “Folks are having to drive quite a ways to get their cannabis.

“We think with Eureka Springs, Berryville, Harrison, Madison County, it’s just a good population base. There is definitely a need and I think it will be a good fit.”

 Ray Green, an attorney representing Osage Creek, echoed those comments at last week’s meeting while answering questions from the commission before the vote.

“My client saw the opportunity to serve patients in Carroll and Madison counties,” Green told the commission. “Those patients could be better served by relocating the dispensary from west Fayetteville to Carroll County and thereby serve all those patients there that are currently having to travel to Washington and Benton county for their service.”

After the brief discussion, the commission voted unanimously to approve the transfer from the current location at

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Detroit — A chain of medical marijuana dispensaries filed a lawsuit in Wayne County Circuit Court Wednesday challenging Detroit’s new recreational marijuana ordinance.

A provision in the ordinance, which was approved last month by the Detroit City Council, doesn’t allow medical marijuana establishments to be eligible to obtain a recreational license for five years. The lawsuit brought by four House of Dank dispensaries — each operating under a unique name — said that wording violates the state’s 2018 recreational marijuana law.

The ordinance, which went into effect April 20, reads: “Commencing on January 1, 2027, any licensees which are holders of one or more licenses to operate a medical marijuana provisioning center in accordance with this article and which have been the holder of such licenses since prior to the effective date of this ordinance, may apply for an adult use retailer license.”

Several medical marijuana business owners filed a lawsuit against the City of Detroit Wednesday to allow existing medical dispensaries to also receive recreational licenses, yet another potential setback in getting the recreational cannabis industry up and running in the city.

If the city follows the current ordinance, medical facilities would not be given a shot at getting a recreational license until 2027, when the medical businesses would have likely already closed their doors from lack of sales, the plaintiffs say. They’re asking the court to intervene and stop Detroit from prohibiting dispensaries that sell both medical and recreational cannabis.

More: At Mumma Maria’s House in Detroit, every dish honors mom

More: Detroit man sold $2,000 a day in marijuana from vending machine at home, feds say

The plaintiffs say state law specifies that once municipalities opt into allowing cannabis businesses within city limits, they cannot prevent medical marijuana licensees from obtaining recreational licenses.

The city’s current ordinance does the opposite of what state law intends by “intentionally singling out and punishing the existing provisioning center licensees, who will all certainly be strangled to death and go out of business long before they are even eligible to apply for (recreational) retailer licenses in 2027,” the plaintiffs

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