Marijuana Business Magazine November December 2018

COMPANY NEWS & Wheelin' DEAL¬N' By Omar Sacirbey U.S. DEVELOPMENTS Louisiana Issues MMJ Licenses The Louisiana Board of Pharmacy issued permits to nine pharmacists who will dispense medical marijuana in their regions around the state, with a potential 10th license to be awarded in the future. The pharmacists are at the following locations: • Region 1, Metropolitan: H&W Drugstore , New Orleans • Region 2, Capital: Capital Wellness Solutions , Baton Rouge • Region 3, Teche: Green Leaf Dispensary , Houma • Region 4, Acadian: The Apothecary , Lafayette • Region 5, Southwest: Medicis , Lake Charles • Region 6, Central: The Medicine Cabinet Pharmacy , Alexandria • Region 7, Northwest: Hope Pharmacy , Shreveport • Region 8, Northeast: Delta Medmar West Monroe • Region 9, Southeast: Willow Pharmacy , Madisonville MedMen Lands Florida Real Estate in $53 Million Deal MedMen secured Florida medical marijuana retail loca- tions with long-term leases in Fort Lauderdale, Miami Beach, West Palm Beach, St. Petersburg and Key West. The $53 million deal comes on the heels of MedMen’s acquisition of a dispensary and cultivation license and related assets from Treadwell Simpson Partnership and affiliates. The license permits the company to open 30 (and up to 35, if certain conditions are met) MMJ dispen- saries as well as cultivation, delivery and manufactur- ing operations. As part of the transaction, MedMen also acquired Treadwell Nursery’s cultivation facility situated on 5 acres near Orlando. The cultivation license is one of only 14 in the state and two in Central Florida. MJardin Buys Nevada Grow Facilities for $22M Denver-based MJardin agreed to acquire a 4-acre site with two cultivation facilities in Las Vegas for $22 million in cash and stock. One facility is operational, and the second is expected to be up and running by January. The two facilities combined will have the capacity to produce more than 10,000 pounds of flower per year. MJardin will use the acquisition to develop extraction and packaging operations for brands and products that will be sold in Nevada. The company said it is negotiating sup- ply agreements with various dispensary clients and “will continue to pursue strategic opportunities in Nevada and other states.” The deal is dependent on certain closing conditions, including regulatory approval from the Nevada Depart- ment of Taxation. Acreage and Harvest Add North Dakota to Their Lists A pair of multistate players won North Dakota’s first medical mari- juana dispensary licenses, snagging permits for the state’s two biggest cities. A state review panel awarded licenses to Acreage North Dakota , owned by New York-based Acreage Holdings, which will open in Fargo, while Harvest of Bismarck , owned by Arizona-based Harvest, will open in Bismarck. Acreage Recent deals, acquisitions and other announcements from North American cannabis companies ( ) 156 • Marijuana Business Magazine • November/December 2018