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June 28, 2021
People outside the cannabis industry might be surprised to learn that the most liberal medical marijuana market in the country isn’t California anymore. Nor is it Colorado, Oregon or another left-leaning blue state.

It’s politically conservative Oklahoma.

The red state has pulled a U-turn on marijuana policy since 2014, when the state’s attorney general – along with his then-counterpart in Nebraska – filed a federal lawsuit to overturn neighboring Colorado’s new recreational marijuana program.

One of the U.S. Supreme Court’s most conservative justices wrote in a legal opinion that the federal government’s ongoing prohibition of cannabis may be out of date.

“A prohibition on intrastate use or cultivation of marijuana may no longer be necessary or proper to support the federal government’s piecemeal approach,” Justice Clarence Thomas wrote, in an opinion that also denied a Colorado retailer a Supreme Court hearing in a legal fight over the merits of Section 280E of the federal tax code.

TPCO Holding Corp. (The Parent Company), a California-based vertically integrated marijuana operator, announced Monday it agreed to acquire MJ retailer Calma in West Hollywood, California, for $11.5 million.

According to a press release, TPCO will spend $8.5 million in cash and another $3 million in company equity. The purchase is expected to close in the third quarter.

MJBizDaily is the leading resource for the cannabis industry, cited by The Wall Street Journal, Forbes and Harvard Business Review. MJBiz also produces the #1 cannabis business conference, MJBizCon.
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