Curaleaf Opens New Cannabis Dispensary In Clearwater, Florida

New Location Marks Curaleaf’s 29th Storefront in Florida and 89th Nationwide

FLORIDA: Curaleaf Holdings, a leading vertically integrated cannabis operator in the United States and one of the largest cannabis operators in Florida, announced today that it has opened a new dispensary in Clearwater, Florida, marking its 29th retail location in the state.Curaleaf Clearwater, located at 2082 Gulf to Bay Boulevard, will carry a wide range of Curaleaf and Select brand products. Select, known as America’s #1 cannabis oil brand now available in 12 states, launched earlier this month in Florida with Select Elite Live, the brand’s new enhanced live resin product, which combines high-quality THC oil and live resin high-terpene extract. The company also recently launched the first-to-market Curaleaf sublingual tablets. The Clearwater location is the first of three new medical dispensaries the company plans to open in the market this quarter.

“Curaleaf remains committed to the Florida market and its patients by providing high-quality medical cannabis products and new consumption formats that make cannabis accessible for all,” said Joe Bayern, President at Curaleaf. “We are thrilled to open Clearwater and support the health and wellness needs of more Floridians.”

Florida’s continued growth in patient registration makes it one of the nation’s fastest-growing medical cannabis markets in the country. Currently, there are over 394,000 medical patients enrolled in the Florida program – about 1.8% of the state’s population – with approximately 5,000 new patients joining each week.

In response to COVID-19, Curaleaf continues to implement new policies and procedures, including curbside services and contactless and cashless payment through approved credit and debit card services, to keep patients, customers and employees safe during this time. To see Curaleaf’s dispensary locations in Florida, please visit www.curaleaf.com/locations/#florida.

Acreage Announces Opening Of The Botanist Dispensary in Florida

NEW YORK: Acreage Holdings, one of the largest vertically integrated, multi-state operators of cannabis licenses and assets in the U.S., today announced the opening of The Botanist in Spring Hill, Florida, a suburb of Tampa.  The medical cannabis dispensary is Acreage’s first retail location in the state.

With the opening of the dispensary, located at 10520 Spring Hill Road, Acreage now owns or has management services, consulting or other agreements (including pending acquisitions) for 32 operational dispensaries in 13 states, including 14 The Botanist branded dispensaries.

Developed by Acreage, The Botanist is both a retail and product brand, deeply rooted in health and wellness, and focused on the holistic power of cannabis to help individuals live balanced lifestyles. The Botanist offers a wide selection of cannabis-derived products and features a “science meets nature” retail design reminiscent of a 19th century botanist laboratory. Offering a warm and inviting environment in which to learn about the healing properties of the cannabis plant from trained patient care specialists, the Spring Hill Botanist dispensary includes a private consultation room, The Botanist’s signature “green foliage wall,” and much more.

Cresco Labs Announces Opening Of VidaCann Dispensaries In Pensacola And Jacksonville

Cresco-Logo_BlueILLINOIS:  Cresco Labs, one of the largest vertically integrated multi-state cannabis operators in the United States, today announced the opening of new VidaCann medical cannabis dispensaries in the cities of Pensacola and Jacksonville, Florida. With the opening of the new dispensaries, VidaCann now has 12 operating dispensaries throughout the state of Florida. Cresco Labs has entered into an agreement to acquire the ownership interests of VidaCann, one of the largest and most advanced providers of medical cannabis in Florida. The acquisition of VidaCann is expected to close within the next 30 to 90 days, subject to the satisfaction of customary closing conditions including approval by the Florida Department of Health.
“Since announcing the acquisition in March, VidaCann has continued to execute on the expansion of its retail footprint,” said Cresco Labs CEO and Co-founder Charlie Bachtell. “The new dispensaries in Pensacola and Jacksonville provide a retail presence in two of the largest cities in Florida, which will improve our ability to capitalize on the very strong growth in the Florida market with more than 10,000 new patients being registered each week. Upon the closing of the acquisition, we project that Cresco Labs will have the fifth largest network of retail dispensaries in the state of Florida, which will provide us with an immediate meaningful presence in this market and an excellent platform for driving future growth. By the end of 2019, we expect to have up to 20 dispensaries operating in Florida, and that number will grow significantly in 2020 when our license converts to an unlimited number of dispensaries.”

New Dispensary Locations and Hours of Operation

Pensacola
2401 Langley Ave, Unit A
(850) 741-2895
Monday through Friday 10:00 a.m. – 7:00 p.m., Saturday 10:00 a.m. – 5:00 p.m., closed on Sunday

Jacksonville
5298 Sunbeam Road, Unit 6
(904) 337-0554
Monday through Friday 10:00 a.m. – 7:00 p.m., Saturday 10:00 a.m. – 5:00 p.m., closed on Sunday

In addition to Pensacola and Jacksonville, VidaCann operates dispensaries in Orlando, St. Petersburg, Port Charlotte, Bonita Springs, Tampa, Tallahassee, Daytona Beach, Deerfield Beach, Bradenton and Palm Bay.

With over 30 premium strains, each VidaCann dispensary offers a variety of products including flower, tinctures, capsules, vapes and concentrate syringes in a range of cannabinoid ratios from completely non-psychoactive to higher levels of THC.

 

Cresco Labs Enters Florida – Will Have Access to 65% Of The Total Addressable U.S. Cannabis Market

ILLINOIS: Cresco Labs Inc., one of the largest vertically integrated multi-state cannabis operators in the United States, today announced that it is entering the Florida market through the signing of a letter agreement to acquire the ownership interests or assets of VidaCann Ltd. and/or affiliated entities, one of the largest and most advanced providers of medical cannabis in Florida.

Key Transaction Highlights and Benefits:

  • Vertically Integrated Florida License – Provides Cresco Labs a Medical Marijuana Treatment Center license to grow, process, manufacture, distribute and dispense the Company’s house of branded products in up to, currently, 30 retail medical dispensaries in the state of Florida.
  • Retail Dispensary Footprint & Rollout – VidaCann currently operates seven (7) dispensaries in the cities of Bradenton, Deerfield Beach, Holly Hill, Orlando, Palm Bay, St. Petersburg, and Tampa and expects to have 14 dispensaries open by the end of June 2019.
    • Additional dispensary locations in Tallahassee, Bonita Springs and Port Charlotte are completed and pending operational approval, and locations in Jacksonville, West Palm Beach, Miami and Pensacola are currently under construction and scheduled to open by the end of June 2019.
    • VidaCann is projected to have up to 20 dispensaries by the end of 2019, while Cresco intends to further accelerate the VidaCann retail dispensary rollout. Dispensary locations are strategically located throughout the state to ensure 95% of the population of Florida is within 50 miles of a VidaCann dispensary. Delivery is available statewide to all licensed patients.
  • Operational Cultivation and Processing – A fully-operational, greenhouse cultivation facility with a state-of-the-art cGMP-certified processing and analytical lab, meeting all FDA requirements.
    • Fully operational 70,000 ft2 cultivation and processing facility is scheduled to double in size by the end of 2019 and will allow Cresco Labs to grow and manufacture its full suite of branded products for distribution across the state.
    • The greenhouse maintains more than 30 premium strains and VidaCann is the only Florida cannabis company using custom-made Italian extractors that can process over 400 pounds a day.

Management Commentary:

“Entering the Florida market is consistent with Cresco Labs strategy of entering markets with outsized demand with strong regulatory structures and is an important milestone for the Company that dramatically impacts our growth trajectory and will be accretive to our earnings in 2019,” said Cresco Labs CEO and Co-founder Charlie Bachtell. “Since relaunching its cannabis program in 2017, Florida has seen tremendous growth in patient registration and is one of the most important markets in the country. VidaCann is the perfect blend of an established operational footprint and infrastructure of professionals that will allow Cresco to execute its disciplined and strategic Florida plan expeditiously.” Bachtell added, “We look forward to welcoming all of the 100 VidaCann employees to the Cresco Labs family.”

“Matching our proven ability to execute operationally with unparalleled speed to the foundation already established by VidaCann, we expect to efficiently scale our Florida operations, immediately impact the market, and get the same high rate of market share that we have achieved in other states in which we operate. We are excited to bring the Cresco Labs’ brand of professional cannabis to the patients of Florida and to all stakeholders involved with this program,” said Cresco Labs President and Co-founder Joe Caltabiano.

Florida Market:

According to Arcview Market Research/BDS Analytics, the medical cannabis market in Florida is projected to increase to $1.7 billion by 2022 primarily based on increasing patient count – there are now currently more than 2,000 qualified ordering physicians and nearly 200,000 registered patients (upon 200,000 patients, VidaCann will have the ability to increase its dispensaries to 35) with total medical patients estimated to reach 550,000 by 2022. With a population of approximately 21 million, the Florida market will increase Cresco Labs’ total addressable consumer base to more than 140 million people.

Cresco Labs Footprint:

Upon the closing of the Transaction, Cresco Labs will have 14 production facilities and 21 retail dispensaries operating with licenses to operate a total of 51 retail dispensaries across 10 states – Illinois, Pennsylvania, Ohio, Nevada, California, Arizona, Florida with New York, Maryland and Massachusetts pending approval. The Company’s products are currently on the shelves of over 250 dispensaries. Cresco Labs is operational in six of the seven most populated states in the country and has more than 140 million potential consumers which is 65% of the estimated total addressable US cannabis market.

Transaction Details:

The purchase consideration is approximately $120 million and will be comprised of a mix of Cresco Labs shares, which will be subject to a 6 to 12-month lock-up agreement following closing, and cash. The final purchase price and proportion of cash and stock to be determined and reflected in the definitive agreement.

Completion of due diligence and execution of a definitive transaction agreement is expected within two weeks. The Transaction is anticipated to close during the second quarter and will be subject to customary closing conditions, including approval from the CSE, the Florida Department of Health and all applicable U.S. regulatory agencies.

VidaCann has been operational since 2018 and their year-end financials have not yet been finalized.

Florida: Governor Demands Lawmakers Lift Ban On Smoked Cannabis

1200px-Seal_of_Florida.svgFLORIDA: Republican Gov. Ron DeSantis last week told lawmakers to lift a legislatively imposed prohibition on the inhalation of medical cannabis.

Lawmakers imposed the ban in 2017 in response to the passage of a voter-approved constitutional amendment legalizing the use and dispensing of medical cannabis. The ban prohibits registered patients from possessing marijuana “in a form for smoking” and bars the use of herbal cannabis except in instances where it is contained “in a sealed tamper-proof receptacle for vaping.” The 2016 constitutional amendment contained no such restrictions.

Governor DeSantis said that he opposed the legislature’s changes because they amended the law in a manner that was “not in accordance with what the amendment envisioned.”

In May, a Florida Circuit Court judge ruled that the ban was unconstitutional. That decision was appealed by the administration of former Gov. Rick Scott. By contrast, Gov. DeSantis says that he will drop the appeal. Legislation was filed on Friday, SB 372, to permit patients to possess and inhale herbal cannabis preparations.

NORML has long argued against limitations on the inhalation of herbal cannabis, opining that inhalation provides patients with the ability to self-titrate their dose and is associated with the rapid and consistent onset of drug effect.


For more information, contact Justin Strekal, NORML Political Director, at (202) 483-5500.

 

420MEDIA Trailblazers In Cannabis: Scheril Murray Powell, Esq., President of Green Sustainable Strong

trailblazers in cannabisDigital marketing agency 420MEDIA and the Marijuana Business Association (MJBA) have joined forces to create a series highlighting entrepreneurs trailblazing the cannabis scene. Each week, we’ll profile a noteworthy business pioneer, and ask each 5 questions.  This week’s featured trailblazer is Scheril Murray Powell, Esq., President of Green Sustainable Strong, LLC.

1. Tell us about your Company.

I have a number of companies that service the Agriculture and Cannabis Industry.   I am a Florida licensed Attorney and have a boutique Agricultural and Cannabis Law Firm. I also own Canna Headhunters, a Cannabis Staffing Agency and an online Cannabis Merchandising Company called Cannurban.com.   I am a shareholder with a CBD Company called R and R Naturals and we are launching an online network called R & R Naturals TV.


Scheril Murray Powell2. Why did you choose the cannabis/hemp business?

I started as a Lawyer and as I learned more about the industry, I got more ideas about opportunities to contribute to the industry in ways that line up with my strengths.   Once I started building relationships with the patient and veteran community, I knew that my entire life’s work was to prepare me for this industry and helping these people.

3. What change will your firm address in the industry? Does it address an unmet need?

I think SMP Law has a commitment and agility that is not traditionally seen in Law Practices.   I lobby from the municipality level to the Federal Level, I help legalization pass and get implemented in foreign nations, I work on applications, and match license holders with funding.  It is a very unique, and values driven firm. It is also unique that SMP Law supports both the Hemp and Marijuana sides of the business. Canna Headhunters is my personal contribution to making sure that the user base and ownership base of Cannabis mirror each other from a diversity perspective.  My gifts and apparel line, www.cannurban.com, is a silent protest to the restriction of patient access as a result of “wellness privileges.”  Finally, my Consulting Firm Green Sustainable Strong, LLC finds funding, resources, and education to farmers and industry newcomers.  My business partners Ginger McNab, Billy Rennalls, and I are committed to being catalysts for positive, progressive change in Cannabis.

Cannurban Apparel4. What has been the reaction to your product/service/technology?  

I believe that the clear good will intent comes across in our product and service design.  The industry and mainstream audience have embraced our concepts. I love the reaction that I get when I post someone that I “catch” wearing www.cannurban.com gear around the world.   There have been sightings in Amsterdam, Jamaica, and even in front of hemp houses.

5. Are there any upcoming milestones for your company?

Yes, we are looking forward to more international partnerships in 2019.  My radio show with Arby Barroso and Nasser Almulla, Cannabis Life Radio, will have an expanded footprint and content. Green Sustainable Strong is planning a National Tour introducing farmers to hemp as a diversification crop.   The cannurban.com line will expand to have true luxury gifts for the holidays and Valentine’s Day. Finally, we plan to launch the Green Sustainable Strong Marketplace by April on 2019. The Canna Headhunters website will be completely transformed and more intuitive during December of 2018.  Finally, as a member of the University of Florida Hemp Pilot Program, I am really looking forward to hemp being grown in Florida.

Where can readers learn more?  

You can learn more by following me on Facebook, Instagram, subscribing to the Scheril Murray Powell YouTube  page, and going on www.cannurban.com to see our new products.

Surterra’s Beau Wrigley, Jimmy Buffett’s Margaritaville Create New Medical Marijuana Brand Coral Reefer

GEORGIA:   Surterra Wellness, a leading medical cannabis company, has announced a landmark global licensing deal to create a new medical marijuana brand, Coral Reefer. The new venture between Surterra and Coral Reefer will develop and market medical and therapeutic cannabis products, merchandise and a broad range of wellness lifestyle products under the Coral Reefer brand – the namesake of Jimmy Buffett’s world-famous band.

Coral Reefer products will be distributed exclusively through Surterra’s rapidly growing network of stores.

“Finally, ‘the time has come,’ as the Walrus said,” Buffett said. “That time being the long overdue recognition of the numerous healing properties of cannabis. I have followed and studied with keen intensity the recent evolvement of the medical marijuana story and the path towards the simple common-sense conclusion that cannabis is good medicine and should be made available to all who need it. I feel that joining with Surterra, in the medical cannabis world, is the right place for Coral Reefer products to be.”

Buffett’s business partner and Coral Reefer CEO John Cohlan said: “Our brands are about quality and improving people’s lives. We based our decision to work with Surterra in this new industry on the professionalism of its world-class management and commitment to quality and customer service. Surterra shares our vision of creating a cannabis wellness lifestyle brand that improves the health of millions of people around the world.”

“Obviously, with Beau Wrigley as chairman, Surterra possesses an understanding and capability for developing and honoring iconic brands,” Cohlan said.

The Coral Reefer licensing agreement comes one month after Wrigley, the former chairman and CEO of the family-founded gum and confections company, joined the Georgia-based medical cannabis company as board chairman. Wychwood Asset Management, Wrigley’s investment arm in West Palm Beach, Fla., recently led Surterra’s $65 million series C equity fundraising round, bringing the total capital raised to more than $100 million since 2015.

“Jimmy and the Margaritaville team have built premium brands that are widely admired and recognized around the world,” Wrigley said. “They share a long-term commitment to consumers and quality that we espouse at Surterra and together we have the infrastructure and capital to support fast growing, high-quality brands. We are thrilled to be partnering with them.”

After launching in Florida in 2019, Surterra plans to expand into additional states, with details to be released early next year.

Jake Bergmann, Surterra’s CEO, said, “This strategic partnership delivers on Surterra’s commitment to quality, integrity and building brands that consumers can trust. Our team at Surterra has established a reputation as thought leaders in this new industry, and our strategy will continue to lead with innovation, building a world-class portfolio of brands and products and expanding our business into multiple state and international markets.”

Commenting on the changing social views on cannabis, Wrigley said, “medical marijuana is a wonderful, natural product that helps people all over the world improve their health and well-being.”

The Blinc Group Enters Into Exclusive Distribution Agreement With Headies For Florida

Headies will have exclusive access to Puffmen’s portfolio for Florida

NEW YORK: The Blinc Group today announced that its customer in the vaping distribution industry, Headies Smoke Shops, has signed an agreement with Puffmen, to be the exclusive distributor in the State of Florida for its nicotine and cannabis vaping portfolio. Recognized as one of a top 10 retail smoke shop operator in Florida, as well as one of Florida’s fastest growing distributors, Headies has an in depth understanding of the local markets through actively connecting vapers with high-end innovative products for the past 4 years.

The Blinc Group enters into exclusive distribution agreement with Headies for Florida

The Blinc Group enters into exclusive distribution agreement with Headies for Florida

Access to the quality, depth and innovation of the remarkable vapor products represented by Puffmen, enables us to elevate our overall offering and position on the Florida market. We enter this partnership with absolute certainty in its’ success and back up this statement with a significant 7 figure commitment to The Blinc Group,” said Roberto Tolentino, CEO of Headies Smoke Shops.

“As adoption of vaping technology scales within the cannabis industry, the need for on the ground support and face to face education is an imperative to guiding and improving the end user experience. That is why Puffmen is constantly on the lookout for up and coming players across all local markets and Headies certainly is a bright star when it comes to the State of Florida. We’re committed to supporting Headies in this undertaking and look forward to many years of successful growth together,” said Sasha Aksenov, CEO, The Blinc Group.

MedMen Announces Acquisition Of Florida Marijuana License And Cultivation Facility

CALIFORNIA: MedMen, the country’s leading cultivator, producer and retailer of state-sanctioned cannabis, has signed a definitive agreement to acquire dispensary and cultivation assets from Florida-based Treadwell Nursery.

As part of the transaction, MedMen will acquire Treadwell Nursery’s cultivation facility situated on 5 acres in Eustis, Florida and the right to open 25 medical marijuana dispensaries in the State of Florida.

Screenshot 2018-06-07 09.02.52“For nearly a decade we have been positioning ourselves to capitalize on enormous market opportunities like this,” said MedMen Co-founder and CEO Adam Bierman. “This acquisition is right in line with our strategy of establishing a presence early on in high potential markets with limited licenses and large populations. Florida is the third most populous state in the country with a medical marijuana market estimated to reach $1 billion in annual sales by 2020. MedMen has built the best-in-class brand, and we continue to invest in premium assets that solidify our dominant position in the most important cannabis markets in the world.”

MedMen employs more than 800 people and currently operates 18 licensed cannabis facilities in cultivation, manufacturing and retail in California, Nevada and New York. The addition of Florida expands the Company’s reach to yet another key market in the fastest growing industry in the country.

As consideration for the acquisition, the Company will pay US$53 million, subject to a working capital adjustment, half of which will be satisfied in cash and the other half of which will be satisfied by way of issuance of common units of MM Enterprises, a subsidiary of the Company, which by their terms are redeemable for Class B Subordinate Voting Shares of the Company. In respect of the cash consideration, the LLC will pay Treadwell Nursery US$6,625,000 on the closing date and on each of the dates that are three (3), six (6) and nine (9) months after the closing date. In respect of the Redeemable Units, the number of units will be based on the lesser of the closing trading price of the Subordinate Voting Shares on the Canadian Securities Exchange as of June 4, 2018 or the two-week weighted average daily closing price prior to the closing of the transaction.

The transaction is expected to close within 90 days and is subject to customary closing conditions, including receipt of state regulatory approvals. If certain regulatory approvals are not obtained, the Company and Treadwell Nursery will have the right to terminate the Agreement.

Florida: Court Strikes Down Legislative Ban On Medical Cannabis Smoking

FLORIDA: A Florida Circuit Court judge has ruled that a legislatively enacted ban on the smoking of medical cannabis by qualified patients is unconstitutional.

State lawmakers in 2017 passed Senate Bill 8A – which sought to amend provisions in Amendment 2, a voter initiated constitutional amendment permitting the use and distribution of marijuana for medical purposes. Specifically, SB 8A prohibited the possession of marijuana “in a form for smoking” and barred the use of herbal cannabis except in instances where it is contained “in a sealed tamper-proof receptacle for vaping.” Seventy-one percent of Florida voters approved Amendment 2 in November 2016.

Backers of Amendment 2, including the group Florida for Care and longtime medical activist Cathy Jordan, challenged the ‘no smoking’ ban – arguing that lawmakers improperly sought to overrule the will of the electorate. Circuit Court Judge Karen Gievers ruled on Friday in favor of the plaintiffs.

“Section 381.986, Florida Statutes (2017) unconstitutionally restricts rights that are protected in the Constitution, and so the statutory prohibition against the use of smokeable marijuana permitted by [a] qualifying patient is declared invalid and unenforceable,” the judge opined. “Qualifying patients have the right to use the form of medical marijuana for [the] treatment of their debilitating medical condition as recommended by their certified physicians, including the use of smokable marijuana in private places.”

NORML has long argued against regulations that limit or restrict patients’ access to whole plant herbal cannabis. Many patients seeking rapid relief from symptoms do not benefit from cannabis-infused pills, tinctures, or edibles because they possess delayed onset compared to inhaled cannabis and are far more variable in their effects.

“This ruling is a victory for Florida voters and, in particular, Florida’s patient community,” NORML Deputy Director Paul Armentano said. “These legislatively enacted restrictions arbitrarily sought to limit patients’ choices in a manner that violated the spirit of the law, and cynically sought to deny patients the ability to obtain rapid relief from whole-plant cannabis in a manner that has long proven to be relatively safe and effective.”


The Court’s opinion in the case: People United for Medical Marijuana et al v. Florida department of Health et al., appears online.

For more information, contact Keith Stroup, NORML Legal Counsel, at: keith@norml.org.