Marijuana Business Magazine March 2020

Old Pal said the agreement will more than double its retail availability, increase its speed to market and meet rising demand from California consumers. High Times to Open Retail Stores Iconic marijuana publication High Times plans to open its first cannabis retail stores in Las Vegas and Los Angeles as part of its diversification strategy. High Times said it will enter those markets by acquiring licensed retailers. The deals are subject to regulatory approval. The Los Angeles-based company plans to sell marijuana products from what it described as “top cannabis brands.” It also will carry memorabilia with the High Times logo and other licensed products. Illinois MSO Strikes Leaseback Deal Multistate cannabis operator Green Thumb Industries is selling and leasing back its Toledo, Ohio, processing facility in a deal valued at up to $7.2 million. The buyer is Innovative Industrial Properties , a San Diego- based real estate investment trust that specializes in sale-leaseback deals involving cannabis companies. (See story in February issue.) IIP paid $2.9 million for the facility and will reimburse Chicago-based Green Thumb as much as $4.3 million in tenant improve- ments—making the deal worth roughly $7.2 million. This is the second sale-leaseback deal between GTI and IIP. Cannabis Genomics Business Goes Global Medicinal Genomics , a cannabis technology business in Beverly, Massachusetts, announced partnerships with three major distributors in Latin America and Southeast Asia: Sanitas SAS in Colombia, Analytical Technology SA in Argentina, Panama, Paraguay and Uruguay as well as Genomax Technologies in Thailand. Medicinal Genomics produces CannMed, an annual cannabis science conference, and Kannapedia, a cannabis cultivar database. Florida Cannabis Company Expands Retail Presence AltMed Florida opened three new dispensaries in Tallahassee, Lutz and Sebastien. The medical marijuana chain now has 16 stores in Florida, and company executives intend to reach 40 before the end of the year. The company’s dispensaries operate under the Müv brand name, which also are operating in Florida. An intensely focused yet aptly mellow approach to cannabis M&A. 1592 Union Street, Suite 325 San Francisco, CA 94123 415-215-5227 BRE License # 01354419 Our sole focus is California’s cannabis industry, so we interact with more businesses here than any other investment bank. And that’s how we get deals done in California. See our completed deals: KOacq.com/transactions