OLCC Approves Marijuana License Stipulated Settlement

Starts Additional Rule-making Affecting Bottle Bill & Milk Beverages

OREGON: At a special meeting on January 30, 2020, the Commissioners of the Oregon Liquor Control Commission approved one marijuana violation stipulated settlement agreement.

Cura CS, a licensed recreational marijuana wholesaler, will pay a fine of $110,000 for two violations.

Licensees are: Cura CS, LLC; Cura Partners, Inc., Member; Cameron Forni, President/Director/Stockholder; Nitin Khanna, Director/Stockholder; David Thompson, Secretary; Nicholas Slinde, Director; Kali Mata, LLC, Stockholder; Nitin Khanna, Member; Karan Khanna, Member; Serpico, LLC, Stockholder; Nicholas Slinde, Member; Phil Nelson, Member.

The Commission also undertook the initial step to rescind previous rulemaking that established a definition of “milk” for determining whether or not specific categories of beverage containers are exempt from collection and redemption under the Oregon Bottle Bill.  The Commission initially adopted the rule in December 2019 (OAR 845-020-0005(11)).

To better align with the barriers to accepting empty containers of milk and plant-based milk beverages that do not fall under the statutory exemption, the OLCC has initiated rulemaking to again look at the definition of “milk.”

This rulemaking could result in rescinding the language that was added during the 2019 rulemaking process.  OLCC will work with the Oregon Beverage Recycling Cooperative, grocers both large and small, and manufacturers of milk and milk-beverage products that are or might be exempt from bottle bill redemption, to provide for and ensure orderly compliance within the marketplace.

 

M&A News: Cannabis One & ONE Cannabis Unite

Cannabis’ “House of Brands” and U.S. Cannabis Dispensary Franchisor Form a Definitive Arrangement Agreement to Combine Businesses

COLORADO: Cannabis One Holdings and ONE Cannabis Group announced that they have entered into a definitive arrangement agreement to combine businesses. Both are cannabis leaders in their own right, their combined prowess creates a strong, national force among cannabis retail and product brands alike.

Cannabis One is known for its globally-recognized “House of Brands,” comprised of award-winning products with an extensive market footprint across North America. Meanwhile, ONE Cannabis has paved the way for franchising cannabis dispensaries in the United States with more than a dozen deals signed in new and emerging markets nationwide. Franchise partners utilize the company’s deep network of seasoned experts and turnkey franchise blueprint to enter the complex industry with ease.

“As two Colorado born and bred companies, we’re comprised of industry pioneers who have honed best practices across nearly all areas of cannabis over the past decade. Together, Cannabis One and ONE Cannabis will lead the industry into a truly successful Cannabis 2.0 with our winning combination. Our products and services deliver a level of consistency and quality to cannabis consumers that’s unmatched. Connecting these exceptional performers will usher in a wave of game-changing initiatives for the industry as a whole,” said Jeff Mascio, CEO of Cannabis One.

Together, the Colorado-based companies will be focused on expanding its franchise footprint worldwide, which includes agreements signed for 15 dispensary franchises across five states and multiple corporate dispensaries in the United States. They will also continue offering leading cannabis products, including brands such as Honu, Cheech, Evergreen Organix, INDVR and Green Man Cannabis with a distribution platform of over 900 retail dispensary locations nationally.

“Franchising is the most agile and proven way to scale in the cannabis industry,” said Mike Weinberger, COO of ONE Cannabis, which began its franchise program in 2018. “Our franchisees own and operate their own dispensaries, hire locally and keep money in the communities they serve. The ongoing support and resources we provide allows them to scale more quickly [than having go at it alone]. Cannabis One shares our vision of inspiring confidence in cannabis for all, and we look forward to working together to elevate our brands across North America and beyond.”

Both Cannabis One and ONE Cannabis will be exhibiting at MJBizCon from December 11 to December 13 at booth C2948. ONE Cannabis has been nominated for MJBizDaily’s Cannabis Retailer of The Year award, which will be announced at the MJBizDaily award ceremony at 7 p.m. on December 12.

Cronos Group to Begin Trading On Nasdaq Stock Exchange

CANADA: Cronos Group Inc.has announced that trading of its common shares in the United States will be elevated from the Nasdaq International Designation program to the Nasdaq Global Market (“Nasdaq”).

Cronos Group expects that its common shares will begin trading on Nasdaq on February 27, 2018 under the trading ticker symbol “CRON.” Cronos Group will retain its listing on the TSX Venture Exchange (“TSX-V”) under the symbol “MJN.”

“This up listing to NASDAQ is a major corporate milestone and reflects the significant progress we have made in strengthening our corporate governance and expanding our global footprint,” said Mike Gorenstein, CEO of Cronos Group. “We believe this will increase long term shareholder value by improving awareness, liquidity, and appeal to institutional investors.”

About Cronos Group

Cronos Group is a globally diversified and vertically integrated cannabis company with a presence across four continents. The Company operates two wholly-owned Canadian Licensed Producers regulated under Health Canada’s Access to Cannabis for Medical Purposes Regulations: Peace Naturals Project Inc. (Ontario), which was the first non-incumbent medical cannabis license granted by Health Canada, and Original BC Ltd. (British Columbia), which is based in the Okanagan Valley. The Company has multiple international production and distribution platforms including: Cronos Israel and Cronos Australia. Through an exclusive distribution agreement, Cronos Group has access to over 12,000 pharmacies in Germany. The Company is rapidly expanding its global footprint as it focuses on building an international iconic brand portfolio and developing disruptive intellectual property. Cronos Group is committed to building industry leading companies that transform the perception of cannabis and responsibly elevate the consumer experience.