Cannabis MSO MedMen is exiting Arizona and Nevada
Marijuana multistate operator MedMen Enterprises is exiting Arizona and Nevada by selling its assets in those states to privately held MSO Mint Cannabis.
Arizona Medical Cannabis News
Marijuana multistate operator MedMen Enterprises is exiting Arizona and Nevada by selling its assets in those states to privately held MSO Mint Cannabis.
Item 9 Labs Corp., the parent company of marijuana retail franchise business Unity Rd. and Arizona cultivator Item 9 Labs, has retained Sharp Capital Advisors to help sell its business.
Marijuana sales in Arizona surpassed the $1 billion mark for 2023 in September, despite some month-over-month sales declines earlier this year.
Arizona’s Court of Appeals ruled in favor of MedMen Enterprises in a breach-of-contract lawsuit, the cannabis multistate operator’s second victory over Whitestar Solutions.
After years of rapid expansion – and, more recently, swift exits – some of the nation’s largest cannabis multistate operators have continued to streamline operations this year, according to MJBizDaily’s latest update on the operations of several of the nation’s largest MSOs.
If marijuana is moved from Schedule 1 to Schedule 3 of the Controlled Substances Act, that would expand both access and product selection for medical marijuana patients. But rescheduling likely wouldn’t impact how state-regulated MMJ dispensaries operate.
Despite state and local jurisdictions earmarking more licenses for marijuana social equity applicants, success stories in this segment remain elusive.