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.”

Larry Reed Tours SoL Reno

By Larry Reed, Man On Weed

I was recently invited to tour the SoL facilities in Reno, NV.  The vertically integrated cannabis company is a sponsor of The 4th Annual Jack Herer Cup in Las Vegas, NV.  Named after the man who racked up hundreds of  thousands of miles crossing the country for nearly 40 years campaigning to restore the hemp plant to American agriculture, The Jack Herer Cup is different from the normal cannabis cups you might be familiar with. It’s not three days, there is no vending, and you won’t find $5 dab stations. This Cup is a very respectful way to say thank you to someone who has in some way shape or form taken care of your family by helping his family.

 

Sol_logo_withsocialLocated about 15 minutes south of Reno, “The Biggest Little City In The World,” SoL’s location is easy to get to from anywhere in the area and worth the drive even if you’re not, because what you will see there is that epic!  After signing in at the welcome desk, and entering through the security door, I turn left and whamo: a continuous span of 20 foot high windows, over 100ft long,  that provide a view into the field of mean green goodness! The complete view of the working garden is right before your eyes: 1,000 cannabis plants all in bud cycle producing an amazing landscape of colas super swollen, trichomes glistening in the light and the aroma of Mother Nature’s finest bouquet of cannabis.

Are you familiar with the term “hog leg?” Pungent with distinctive terpene profiles pack in the 23,000 square foot greenhouse! All grown in natural sunlight. I’m no scientist but it would seem to me that 1 Sun is greater than however many lights you want to try and emulate the most powerful light source in our universe.  No corners were cut in the creation of SoL, the greenhouse is on the forefront of technology in the under roof organic cannabis farm. There is even a 3 foot riser that allows you to see over the canopy. Think Bob Ross after he paints happy autumn trees. All of this is in the lounge area. Yes a lounge area, a kin to a common area in library or office, a place to decompress, perhaps grab a beverage from the coffee bar (yes there really is a coffee bar there) and go view what is happening in the commercial kitchen. Commercial Kitchen? Yes, the row of windows that permit you to see in the farm terminate into the side of the kitchen that is also behind windows.  Transparency, that is what is happening here: from the transparent garden roof to the see through walls, the glass windows of the kitchen, all in full view. And for good reason, SoL has an amazing chef ready to create and everyone gets to watch his culinary creations.

If you’re able to pull yourself away from the cannabis carnival going on in your ocular sockets, there is still the state of the art dispensary to visit.

A wonderful combination of high tech meets hands on.  Digital menus drape the walls giving you the luxury of strolling and shopping while being able to see the menu from any place in the dispensary.  Between the menus, the walls are adorned with helpful information and an innovative way of helping you decide which cannabis fits what effects you are desiring.  It really will help you, if maybe you have a hard time deciding over 100 different medical and recreational cannabis products.

How did this gregarious garden of ganja, the Taj Mahal of THC transparency, this kingdom of kindness ever to come into existence.  It was the brainchild of Ed Alexander and his partners; each facet of the facility has been well thought out and implemented to provide a very warm and welcoming experience to all that visit.  Two things really jump out at you when you meet Ed, first, he puts the effort in to do it right.  When I asked about his timing into the market he replied. “SoL could have been known for being first. but we would rather be known as the one(s) that lasted”.

SoL’s sponsorship of the Jack Herer Cup fits into the company philosophy. “Jack was all about making cannabis transparent, seeing what was actually behind all the misinformation, it is our plan to keep that going,” Alexander told me. “That’s why SoL is better.”

After you’ve reached your buying limit and have tickled your THC bone so much that you just gotta get going, you exit onto a 2,000 sq ft deck, complete with comfy couches to relax and enjoy the mountain air.  Look to the horizon and you see the largest ski mountain in the area. The trails are visible from the deck and with adult use facilities on the horizon, this space is going to be a favorite for weeders world wide.

From the moment you walk in to the last moment you walk out, the motto repeats itself, SoL is better. SoL provides you with the most unique experience in the emerging dispensary market that can be found today.  SoL’s grand opening celebration kicks of October 26/27/28, lots of good times and great cannabis, make it if you can, tell them Larry Reed sent ya.

Reno Cannabis Convention To Be Held April 7-8 At Whitney Peak Hotel

First Time Cannabis Convention In Reno

NEVADA:  Celebrating the arrival of adult use Cannabis in the state of Nevada, the first Reno Cannabis Convention will be held the weekend of April 7 at Reno’s Whitney Peak Hotel. Cole Markus, Owner of the convention, made the announcement this week.

Designed to appeal to all cannabis users, – Adult use, Medical and Enthusiasts –the show will operate on April 7 from 11-4:45 and April 8 from 11-4:30. The Reno Cannabis Convention is a unique industry trade show that encompasses the emerging local cannabis community in Reno, Nevada. The Convention, sold out for exhibitors but with event tickets still available, serves to foster industry expansion through advocacy and education.

Speakers include “CannaNurses” Juhlzie Monteiro, RN, BSK and Heather Manus, RN, who will speak on cannabis for children and Loral Langemeier “The Millionaire Maker” and Nevada native who is on a relentless mission to empower people to become millionaires.

Cannabis Nurses Network™ Presents  Cannabis Education for Nurses at UNLV-Las Vegas, NV

Cannabis Education for Nurses at UNLV-Las Vegas, NV

Ticket prices are $25 for a 1-day pass and $40 for a 2-day pass. Sponsored booths will also be available to the public during convention hours. The Reno Cannabis Convention is strictly a non-consumption event.

Terra Tech Announces Opening Of Fourth Nevada Medical Cannabis Dispensary

Grand Opening in Reno, Nevada on January 12, 2017

NEVADA: Terra Tech Corp., a vertically integrated cannabis-focused agriculture company,  announced that its new Blüm dispensary, located at 1085 South Virginia Street, Reno, Nevada, will open to patients on Monday, January 2nd, 2017 at 9:00 AM Pacific Time. The Company will also host a Grand Opening for the dispensary on Thursday, January 12th, 2017, at 9:00AM PT, with the ribbon cutting scheduled for 1:00 PM PT. Investors, media and customers are invited to attend the event to view the dispensary’s selection of premium medical cannabis products.

The Blüm dispensary in Reno, Nevada is currently open to the public for preregistration. The dispensary will offer the Company’s proprietary IVXX™ brand of premium medical cannabis, flowers, shatters, waxes and oils, among other high-quality cannabis products from a range of reputable providers of superior grade medical cannabis.

Derek Peterson, CEO of Terra Tech, stated, “It is our great pleasure to announce that Blüm Reno has successfully completed all of its inspections with the State of Nevada and officially received its Nevada State Medical Marijuana Establishment (“MME”) Registration Certificate. Our dispensary in Northern Nevada successfully received the MME Registration Certificate without one deficiency and I am proud of our team for all its hard work getting us to this stage. This is our fourth dispensary in Nevada to open in less than a year, giving us a strong presence in the state. Moreover, in November 2016, Nevada took the historic step of approving the legalization of recreational cannabis. We believe that our efforts to establish Blüm as a leader in the medical cannabis market have uniquely positioned the Company to capitalize on the emerging market for legal cannabis, where we see significant opportunity for growth.”

The Reno, Nevada Blüm dispensary follows the opening of the Desert Inn Dispensary in October, 2016, the South Decatur Boulevard, Las Vegas Dispensary in August, 2016 and the Western, Las Vegas Dispensary in April, 2016. The Company has also operated a Blüm dispensary in Oakland, California, since April, 2016.

Arizona Medical Marijuana Patients Can Now Buy Cannabis Legally In Las Vegas And Reno

ARIZONA:  Arizona’s medical-marijuana patients now can patronize newly opened dispensaries in Reno and Las Vegas and possess up to 2.5 ounces anywhere in Nevada.

Arizona, like some of the other 23 states with medical-marijuana laws, allows people with valid medical cards from other states to legally possess marijuana in Arizona, but they can’t legally buy it at Arizona dispensaries.

Nevada apparently is the only state that allows its dispensaries to sell to patients from other states. And now its dispensaries have begun to open, greatly expanding where Arizona’s 80,000 patients can legally buy cannabis.

Two Reno-area dispensaries opened in July. Las Vegas saw its first dispensary — Euphoria Wellness — open a couple of weeks ago. More dispensaries in Vegas and elsewhere in Nevada are expected to pop up in the coming months; the state has processed more than 60 dispensary applications.

Reno Mayor Bob Cashell To Push For Medical Marijuana Dispensaries

NEVADA: Reno Mayor Bob Cashell has executed an about face on the issue of medical marijuana, saying today he will push for the licensing and proper zoning of dispensaries in the city of Reno.

Cashell was a vocal critic of the law setting up a dispensary system for Nevada’s medical marijuana card holders when it was being considered by the Legislature last year.

But while some Nevada locales are considering an outright ban on the dispensaries, Cashell said today Reno should press ahead with licensing.

“I don’t think we are going to reject medical marijuana,” he said. “At least I’m not. I’ve seen what it does to help people. I’m going to push for it.”