Dixie owner expands into Michigan marijuana market with acquisition
BellRock Brands, a Denver-based operator of a multistate marijuana portfolio, agreed to acquire JRM127, a producer of medical and recreational cannabis products in Michigan.
BellRock Brands, a Denver-based operator of a multistate marijuana portfolio, agreed to acquire JRM127, a producer of medical and recreational cannabis products in Michigan.
A Florida appeals court judge criticized state health officials for not awarding more medical cannabis licenses as required by law.
Bright Green Corp., which hopes to win federal approval to cultivate marijuana on behalf of researchers, said it struck an agreement with investors to raise $10 million through a private placement of the company’s stock.
Multistate operator Cresco Labs closed on the sale of a Pennsylvania cannabis property under a $45 million sale-leaseback agreement with a Chicago-based real estate investment trust.
The United Food and Commercial Workers (UFCW) has helped union two more marijuana businesses.
After years of waiting, Detroit is now accepting applications for adult-use cannabis business licenses for retailers, microbusinesses, and consumption lounges.
The application window for adult-use business licenses opened Sept. 1 and closes Oct. 1.
The Oklahoma Supreme Court said it will consider whether legalizing adult-use cannabis should be on the state’s Nov. 8 election ballot.
But it’s not clear if there is enough time to print ballots with State Question 820 in time.
The North American cannabis industry is increasingly being dominated by multistate operators and other large companies, often at the expense of small businesses.
At best, these small businesses get acquired by big players. At worst, they shut down, unable to compete with the economies of scale and resources big players have.
In Colorado, the 10 biggest marijuana businesses account for more than 70% of cannabis sales, according to MJ consultant Chris Cox.
The same will eventually be true in California, where the top 10 companies account for more than 30% of marijuana sales, says Cox, a partner with Sacramento-based cannabis consultancy BeGreenLegal.
In the months before Ulysses Youngblood opened the doors to his dispensary, Major Bloom, in August 2021, passersby in the lower-income neighborhood in Worcester, Massachusetts, where the store is located, would stop him in the street and say, “I’m not paying $20 for a pre-roll.”
It will cost $2,500 for entrepreneurs to apply for medical cannabis business licenses in Alabama, and the application window opens Sept. 1.
The number of dispensaries in Louisiana licensed to dispense medical cannabis will soon expand from the current nine.