Dai Truong's Cannabis Newsletter - Issue #17


Cannabis

MedMen Adds 15th CA Dispensary in Vallejo

MedMen Continues Northern California Retail Expansion into City of Vallejo. This will be MedMen’s fourth planned retail store in Northern California, joining locations in Emeryville, San Jose and Seaside. It will also be the Company’s 15th retail store in California.

Weedmaps to open Museum of Weed

The long and endlessly intriguing history of cannabis will come to life in the Weedmaps Museum of Weed, opening Aug. 3, 2019, in the heart of Hollywood, California. The museum will immerse visitors in a series of interactive and informational exhibits that tell the story of the growers, stoners, and activists who expanded knowledge of the plant and kept the cannabis movement alive despite decades of government prohibition and propaganda.

America’s Most Powerful Cannabis Union - UFCW

The United Food and Commercial Workers union is now a major force in marijuana politics — but criticisms of it have grown with its influence

Governor of Illinois, J.B. Pritzker Signs Bill Legalizing Recreational Marijuana

Illinois just became the 11th state to legalize recreational marijuana. Democratic Governor J.B. Pritzker signed a bill into effect on Tuesday that will automatically expunge and pardon the records of 800,000 state residents with a record of non-violent small scale cannabis possession.

January 1 is the start date for the bill, which establishes that people who live in Illinois can possess up to 30 grams of cannabis. The limit is half that for visitors to the state. Adults 21 years old and up will be able to purchase at licensed dispensaries. Until January 1, marijuana possession remains illegal in the state.

California marijuana vape cartridges required to include universal symbol

Changes to California’s marijuana packaging regulations will require all vaporizer cartridges to display the state’s version of the universal symbol, a move that will cause manufacturers to adjust practices and spend considerable money to comply.

Questions arise in Michigan as state regulates recreational use

On Dec. 6, 2018, Michigan became the first among its Midwestern neighbors to legalize recreational marijuana use. Proposal 1, a statewide ballot initiative propelled forward by signatures of some 360,000 Michiganders, passed with 56% of voters checking the “yes” box. Illinois also is moving toward full legalization in 2020.

While marijuana prohibition in Michigan is over, limbo has arrived.

Tom Ivacko, a researcher on all things policy-related in Michigan, described 2019 as a “haze” as officials scrapped one process for regulating marijuana and are implementing a new one before recreational cannabis hits the streets legally, probably in 2020.

Cann Launches THC-Infused Beverages in MedMen Stores

A refreshing new take on cannabis launched this month in select markets in California. Cann, a delicious low-dose cannabis beverage, is now available in three MedMen locations across Los Angeles and one in San Diego. It is expected to launch across the State later this summer.

Berner Brings Cookies Cannabis Strains to Washington State

Berner’s company, Cookies, just announced a new partnership with Rubicon Organics Inc., a large cannabis growing company. Under the terms of the partnership, Cookies strains will be grown and produced at Rubicon facilities.

Washington is not Berner’s only new deal. Earlier this month, his company also landed a partnership to bring products into Maryland’s medical marijuana market. Under this arrangement, Cookies will work with Maryland-based cannabis company Culta. Specifically, Culta will become the exclusive grower, manufacturer, and distributor of the Cookies brand in the Maryland market.

Supreme Cannabis Launches Premium Cannabis Oil in Partnership with Wiz Khalifa and Khalifa Kush Enterprises Canada

KKE Oil is a premium, recreational focused oil, developed for the consumer who wants the convenience, high THC potency and precise dosing offered by a cannabis oil. KKE Oils are one of the first ever recreational-focused cannabis oils available to consumers in Canada. Wiz Khalifa and the KKE team specifically selected the Supreme Cannabis’ wholly-owned subsidiary, 7ACRES Sensi Star strain for the debut of the line.

Tilray Imports Bulk Supply of Medical Cannabis Oil into the U.K.

Tilray Inc. (NASDAQ:TLRY) announced it has imported medical cannabis oral solutions in bulk into the United Kingdom from its Good Manufacturing Practices (GMP)-certified facility in Canada. This export allows Tilray to provide authorized U.K. patients in need with a locally maintained supply of medical cannabis oral solutions.

Elevate Lompoc: New cannabis shop opens downtown, becoming third in city and county

Elevate Lompoc, a dispensary, opened its doors for a soft opening last week in the 100 block of South H Street. It became the third recreational cannabis store in Lompoc, as well as the third to open in all of Santa Barbara County.

Detroit-based Cannabis group plans 10 Michigan stores by end of 2020

A Detroit-born cannabis and lifestyle brand is planning to open several Michigan stores by the end of 2020.

Common Citizen said it’s anticipating opening a total of five retail locations by the end of 2019, and another five by the end of 2020. They also plan to offer delivery.

Common Citizen also said it will create funding to provide a minimum of $100,000 annually towards needs across the communities they call home, starting with the following store openings in 2019:

  • Flint, Michigan

  • Lansing, Michigan

  • Battle Creek, Michigan

  • Hazel Park, Michigan

  • Detroit, Michigan

Chicago company wants to open medical marijuana dispensary in Bethlehem Township — it likely won’t be the last

A representative of Chicago-based Justice Grown is seeking a permit to open a medical marijuana dispensary at the Bethlehem Village Shops on Route 191 near the intersection of Christian Springs Road.

Justice Grown likely won’t be the last dispensary to want to open in the Lehigh Valley, which already has three dispensaries and two more planned for this year. The township issued a conditional use permit in 2017 to Keystone Canna Remedies for a medical marijuana dispensary that was to open on Bagylos Circle in Lehigh Valley Industrial Park VI.

CBD

Thrive Market to pull CBD products

Online grocer says it’s complying with demand from merchant processor. In a blog post, Thrive’s CEO mentioned that 18 months ago, the Company became the first national e-commerce retailer to begin carrying a full assortment of hemp-based supplements and topical products.

Deals

Surterra Wellness Acquires Molecular Infusions (Mi)

Surterra Wellness (Surterra), announced the acquisition of Molecular Infusions (Mi), a Boston-based biotechnology research and development company that leverages innovative product delivery systems to improve the results of cannabis therapies. The acquisition expands Surterra’s research and development capabilities and establishes its first international footprint.

North Bud Farms Acquires Nevada Botanical Science

North Bud Farms Inc. (CSE: NBUD) announced that it has entered into a binding letter of intent, to acquire Nevada Botanical Science, Inc. (“NBS”) in a transaction valued at $7M. Nevada Botanical Science is located in Reno, Nevada and hold medical and adult use licenses for cultivation extraction and distribution. NBS’ operation is located on 3.2 acres of land within the Reno green zone industrial park. NBS currently operates a 5,000 sq. ft. indoor cultivation facility and have been approved for expansion of up to 100,000 sq. ft. The property also houses an extraction facility and commercial kitchen capable of manufacturing beverages and edibles. Operated by healthcare professionals, NBS has been primarily focused on the cultivation and manufacturing of medical cannabis products.

Vireo Health Enters Puerto Rico Medical Cannabis Market

With closure of a $1.8M deal, Vireo Health has marked its official entry into Puerto Rico’s medical cannabis market in a move that gets it one step closer to its ultimate goal: establishing a U.S. and global hub for cannabis oil production.

Founded by Kingsley, an emergency room doctor for over a decade, Vireo Health was made with a mind for medical. The physician-led company is focused on intellectual property at the intersection of cannabis, pharmaceuticals, and consumer packaged goods. As a result, Vireo tends to focus on products like tinctures, oils, and softgels.

That approach makes Puerto Rico a perfect fit. For decades, Puerto Rico has served as a haven for pharmaceutical companies, which flocked there due to federal tax exemptions, and stayed for the talent base. Vireo Health intends to make use of that same talent and infrastructure.

ManifestSeven Acquires Cannabis Delivery Service M Delivers

The company also gained the rights to the telephone number 1-800-Cannabis, which will allow businesses and consumers to access M7’s services. M Delivers was founded in 2015 and is fully licensed to deliver cannabis products to consumers’ homes. The company, based in San Diego, has over 50 employees and has built a database of more than 30,000 active retail consumers.

People

Green Growth Brands Adds Jann Parish CMO

Green Growth Brands, Inc. (CSE: GGB) (GGB) announced the appointment of Jann Parish as Chief Marketing Officer (CMO), effective immediately. Parish, formerly CMO of Victoria’s Secret and other global brands, brings brand development, strategic consumer relationship management and digital innovation expertise to the Company.

Blueberries Adds Ian Atacan as CFO

Mr. Atacan brings over 25 years of financial management experience to Blueberries, having been in leadership roles with high-growth and start-up stage organizations in both the public and private markets across various industries including cannabis, mining and oil & gas. Mr. Atacan most recently served as CFO of Natura Naturals Holdings Inc., a licensed Canadian cannabis producer, until its acquisition by Tilray Inc. (NASDAQ: TLRY) for $82M in 2019 where he played an instrumental role in the completion of the strategic transaction and assisted with various core functionalities. Prior to that, Mr. Atacan served as CFO of Global Atomic Corporation, a TSX Venture Exchange listed uranium mining and zinc recycling company with operations in Niger and Turkey, from 2010-2018.

Blueberries is a Latin American licensed producer of naturally grown premium quality cannabis with its primary operations ideally located in the Bogotá Savannah of central Colombia and operations currently being established in Argentina.