Ohio Board Of Pharmacy Awards Third Dispensary Certificate Of Operation In Newark

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OHIO: The State of Ohio Board of Pharmacy today awarded a Dispensary Certificate of Operation to Herbology, located at 1150 N. 21st St., Newark.

The Board has now issued 50 Dispensary Certificates of Operation.

The interactive map of Dispensaries with Certificates of Operation will be updated within two business days.

Ohio Board Of Pharmacy Awards Dispensary Certificate Of Operation In Cuyahoga Falls

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OHIO: The State of Ohio Board of Pharmacy today awarded a Dispensary Certificate of Operation to Herbology, located at 1220 Buchholzer Blvd., Cuyahoga Falls.

Herbology Cuyahoga FallsThe Board has now issued 49 Dispensary Certificates of Operation.

The interactive map of Dispensaries with Certificates of Operation will be updated within two business days.

Ohio Board Of Pharmacy Awards Third Dispensary Certificate Of Operation In Cincinnati

State_of_Ohio_Board_of_pharmacy_logo2COHIO:  The State of Ohio Board of Pharmacy today awarded a Dispensary Certificate of Operation to Have a Heart Cincy, located at 8420 Vine St., Cincinnati.

The Board has now issued 47 Dispensary Certificates of Operation.

The interactive map of Dispensaries with Certificates of Operation will be updated within two business days.

Ohio Board Of Pharmacy Awards Second Dispensary Certificate Of Operation In Akron

State_of_Ohio_Board_of_pharmacy_logo2COHIO: The State of Ohio Board of Pharmacy today awarded a Dispensary Certificate of Operation to Bloom Medicinals, located at 737 E. North St., Akron.

The Board has now issued 44 Dispensary Certificates of Operation.

The interactive map of Dispensaries with Certificates of Operation will be updated within the next 48 hours.

Ohio Board Of Pharmacy Awards Dispensary Certificate Of Operation In Canton

OHIO: The State of Ohio Board of Pharmacy today awarded a Dispensary Certificate of Operation to ZenLEAF Canton, located at 1851 Steinway Blvd. SE, Canton.

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The interactive map of Dispensaries with Certificates of Operation will be updated within the next 48 hours.

iAnthus Expands Nevada Footprint With Agreement To Acquire Vertically Integrated Northern Nevada Operator

NEVADA:  iAnthus Capital Holdings, which owns, operates, and partners with best-in-class regulated cannabis operations across the United States, announced that its U.S. subsidiary has entered into an agreement to acquire WSCC, Inc. (“Sierra Well“), a leading Nevada-based vertically licensed cannabis company with two dispensary locations and over 20,000 square feet of cultivation/production facilities in Reno and Carson City.

The acquisition will enhance iAnthus’ presence and accelerate growth efforts in Nevada, which represents an approximately US$640 million adult-use and medical cannabis market growing at over 20% annually, based on data made publicly available by the Nevada Department of Taxation. In conjunction with its current operations, iAnthus’ footprint will be as follows:

  • 6 dispensary Nevada licenses across the state, which includes two currently operating dispensaries under the Sierra Well brand.
  • 50,000 square feet of Nevada cultivation and processing capabilities to further capitalize on strong production and distribution capabilities in the state (MPX-branded products, including award-winning concentrates and recently launched edibles, are currently sold in over 40% of dispensaries in Nevada).
  • Pro forma open dispensary count of 29 stores nationwide.

Sierra Well was founded in 2014, and opened its Reno location in 2015 and its Carson City location in 2016. On an unaudited standalone basis (prepared in accordance with US GAAP), Sierra Well’s last quarter annualized revenue was approximately US$16 million with an EBITDA (non-IFRS) margin above 20% and positive net income.

The transaction is expected to close in the first half of 2020, subject to customary regulatory approvals including approval of the license transfers by the Nevada Department of Taxation. Upon closing of the transaction, the Sierra Well dispensaries will be renamed under the Company’s Be. brand, which is being launched nationwide in October 2019.

“Strengthening our foothold in one of the most successful adult-use cannabis markets is consistent with our strategy to deliver iAnthus’ nationally recognized products in premier markets,” said Hadley Ford, CEO of iAnthus. “This strategic transaction will allow us to scale our Nevada operations, add talent, and solidify both our retail and brand presence in both the Northern and Southern portions of the state.”

“We’re excited to join the iAnthus team and look forward to expanding our business with the expertise of a tried and tested multi-state operator,” said Steven Nightingale, Chairman of the Board of Sierra Well. “We at Sierra Well see this partnership as a perfect fit, one that will allow our dynamic workforce to deepen their ability to provide top-notch service and products to the communities of Reno and Carson City.”

Cresco Labs Opens Third Pittsburgh Area Dispensary

PENNSYLVANIA: Cresco Labs, one of the largest vertically integrated multi-state cannabis operators in the United States, has announced the opening of a CY+ dispensary in New Kensington, Pennsylvania. To commemorate the opening, Cresco welcomed Pennsylvania Lieutenant Governor John Fetterman to cut the ceremonial ribbon and to speak about the opioid crisis plaguing the state and Cresco’s role in advancing medicinal cannabis as a safe and accessible alternative for patients. With New Kensington as the third CY+ dispensary to open in Pennsylvania, Cresco has licenses for three more dispensaries planned to open during the second quarter of 2019.

“We are excited to open our third CY+ dispensary in the growing Pennsylvania market and to be the first in the Pittsburgh metro area to launch our online ordering feature,” said Cresco Labs CEO and co-founder Charlie Bachtell. “Patients across the state can reserve their orders online and enjoy convenient and easy access to their selected medicines at three dispensaries in Pennsylvania with three more planned for the first half of this year. These firsts in the state of Pennsylvania underscore our mission to normalize and professionalize the cannabis experience for customers across a multitude of market segments.”

Cresco Labs first entered the Pennsylvania market in February 2018 with the opening of its Butler retail dispensary, making the first ever legal sale of cannabis under Pennsylvania’s medical marijuana program. Cresco’s flagship location in Pennsylvania, which opened in June 2018, is located in the historic Strip District of the city of Pittsburgh. Cresco also operates a state-of-the-art cultivation facility in the city of Brookeville.

“We’re creating a retail experience that matches the varied needs of our patients,” Bachtell continued. “We are incorporating technology that can help patients get the product they want when they want it, and without the wait. In conjunction with our New Kensington dispensary, we are also launching our RESERVE branded product in Pennsylvania, delivering a premium and exclusive cannabis experience based on years of selective plant breeding. Our CY+ dispensaries carry a high-quality selection of products such as dry leaf, vape pens and cartridges, oral sprays, pills, topicals, and transdermal patches from growers across the state. We are deeply committed to solidifying our market leadership in one of the most attractive and highly coveted markets in the country and expanding the relief we provide to patients in that state.”

Pennsylvania operates as a high-barrier market with very limited market participation. Retail sales opened in February 2018 to a limited number of retail locations across the state. Pennsylvania’s medical marijuana market is expected to become one of the biggest markets in the U.S., according to Marijuana Business Daily, January 2018. Cresco Labs operates as Cresco Yeltrah in Pennsylvania.

Cresco Labs Acquires And Opens Hope Heal Health Dispensary In Bristol County, Massachusetts

ILLINOIS: Cresco Labs, one of the largest vertically integrated multi-state cannabis operators in the United States, today announced the opening of the Hope Heal Health Dispensary (HHH) in Fall River, Bristol County, Massachusetts. Cresco Labs entered in to a definitive merger agreement with HHH for its Massachusetts cultivation, manufacturing, processing, and dispensary operations at the end of 2018. The merger is pending state regulatory approval.

“With another fast-to-market example of our successful execution, we are pleased to offer relief and comfort to 60,000 certified patients in Massachusetts,” said Charles Bachtell, CEO and cofounder of Cresco Labs. “Massachusetts is a robust and fast growth cannabis market, and HHH expects its first pilot harvest from its Fall River cultivation facility towards the end of the first quarter. Cresco has applied for adult use licensing for our Fall River dispensary, which opened today with a selection of medical-grade cannabis vape cartridges, edibles, tinctures, topicals, concentrates, and flower from three Massachusetts cultivators.”

Patients can purchase up to 10 ounces every two months after being certified by a physician for any one of the Massachusetts state-approved debilitating medical conditions. Cresco Labs’ core mission of patient education and outreach will help inform patients about using medical cannabis as medicine through private one-on-one consultations.

HHH has licensing that allows for cultivation, manufacturing, processing and the establishment and operation of a medical cannabis dispensary, with the ability to obtain up to two additional medical cannabis dispensary licenses and three adult-use dispensary licenses.

The Hope Heal Health Dispensary, located at 1 West Street in Fall River, MA, is open daily, 10:00 am to 7:00 pm. For more information call 774-377-9333.

Cresco Labs’ Dispensary Launches Newly Enacted Illinois Opioid Alternative Pilot Program

ILLINOIS: Cresco Labs, one of the largest vertically integrated multi-state cannabis operators in the United States, announced that the Company’s FloraMedex dispensary launched Illinois’ Opioid Alternative Pilot Program (OAPP) today vastly expanding the population of Illinois patients who can access medical cannabis in place of pharmaceutical opioid medications. Under this new program, patients with doctor approval can receive near-immediate access to cannabis products from an Illinois licensed dispensary. The OAPP eliminates the previously required red tape – fingerprinting and background checks – that often delay patients access to medical cannabis by up to three months. Under this act, Medical Cannabis Pilot Program (MCPP) patients with one of the 41 qualifying medical conditions designated by the state of Illinois, and a doctor recommendation can also receive a temporary medical cannabis card online and make immediate cannabis purchases without waiting for their permanent card to be processed.

“The passage of the Opioid Alternative Pilot Program is important legislation for the patients across Illinois that have been looking for an alternative form of relief, and we are very excited to make the first sale of medical cannabis under the program,” said Cresco Labs CEO and co-founder Charles Bachtell. “The program will open up access to medical cannabis across the state and eliminate the wait time and red tape previously required. Opioid addiction impacts up to two million citizens across our country, and we are proud that Cresco Labs is now able to offer Illinois patients a better treatment option and much-needed relief.”

The Alternative to Opioids Act was signed into law by then-Governor Bruce Rauner in August 2018. The Act significantly expands access to Illinois’ medical cannabis program by allowing patients to purchase medical cannabis in place of doctor prescribed opioid medications. In 2017 alone, over two million patients received nearly five million opioid prescriptions in Illinois. Now, under the pilot program, patients with one of 41 qualifying medical conditions and a doctor’s recommendation can choose cannabis over opioid treatment and receive a temporary medical cannabis card online. Cannabis purchases can then be made immediately without waiting for a permanent card to be processed.

Harborside Strikes Back, Wins Big In Tax Court

U.S. Tax Court Declines to Issue Penalties in Harborside 280E Case, Saving Industry Tens of Millions

CALIFORNIA: In a historic landmark decision that will save Harborside and the legal cannabis industry millions of dollars, the U.S. Tax Court has ruled that the California dispensary is not liable for accuracy-related 280E penalties. 280E is a tax code provision that denies all standard business deductions to businesses whose operations “consist” of activities that violate the Controlled Substances Act.

According to the Opinion issued by the Court, Harborside acted “reasonably and in good faith” when taking its tax positions for the years at issue. The Court cited Harborside’s timely filing of its tax returns and its maintenance of accurate financial records as a key strength, along with a persuasive argument from Harborside co-founder and Chairman Emeritus, Steve DeAngelo, that he made good-faith efforts to comply with the law, despite a lack of clear legal authority to guide medical marijuana dispensary taxpayers.

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The ruling comes just a few weeks after the same Court ruled that 280E itself does apply to Harborside — a ruling Harborside intends to appeal to the U.S. 9th Circuit Court of Appeals.

“We’re still working on knocking out 280E entirely, but at least for now we have established that cannabis businesses who operate in reasonable, good faith compliance with existing law will not suffer from additional unjust penalties,” said DeAngelo. “This ruling could save the legal cannabis industry tens of millions of dollars— dollars that ultimately come out of the pockets of cannabis consumers. What we are asking for is simple and fair: for the IRS to treat us like every other legal, tax paying business in the United States. Since the IRS has made it clear they are unwilling to do that on their own, Congress should step in and pass clear 280E reform legislation.”

The decision highlights Harborside’s historic role as an advocate and defender of the legal cannabis industry, and is just one of several victories it has scored since its founding in 2006. “Harborside never has, and never will, give up in its pursuit of justice for cannabis consumers and the legal industry that serves them,” said DeAngelo.

In 2016, the U.S. Department of Justice gave up on a years-long attempt to seize the properties where Harborside does business, dismissing a pending civil forfeiture action initiated 2012, when California’s four U.S. Attorneys mounted a statewide campaign to shutter California’s medical cannabis industry. The campaign had succeeded in closing 600 dispensaries— one third of the dispensaries in the state—but ended after Harborside won multiple legal victories in both state and federal courts.

“The penalties ruling strengthens Harborside’s financial position and helps clears the path for future industry growth,” said Andrew Berman, CEO of Harborside. “It’s a huge win for Harborside and the entire cannabis industry. We applaud the Court’s well-reasoned opinion, and appreciate the Court recognizing our commitment to compliance and operating in good faith.”