Florida Tracker
Sales in Florida for the past week were flat compared to the week prior. Notable increases in market share came from Surterra, AltMed, and Curaleaf while Trulieve has lost 2.25% market share in the same time frame. The biggest number in the data was Ayr's 165% increase in sales of Medical Marijuana. Curaleaf added one dispensary bringing their total count up to 34.
Mercer Park Acquisition Approval
Mercer Park Acquisition Corp., a SPAC, entered into a definitive agreement to merge Glass House Group with GH Group. The combined business has plans to expand their current cultivation to over Six Million Sq. Ft. of state-of-the-art greenhouses which will be by far the largest capacity of any cannabis operator in California. Their combined anticipated retail footprint is 22 dispensaries by Q1 22'. The largest current operator in the state is currently MedMen with 18 dispensary locations. GH Group plans to be the largest brand building platform in the largest cannabis market in the world within one year. The SPAC trades under ticker MRCQF.
CT Unveils Legalization Proposal
The state of Connecticut unveiled a proposal Saturday to legalize and regulate cannabis sales in the state. The bill has been in the works between Gov. Ned Lamont, state legislators, and social justice advocates for the past nine months. Under the proposal, retail sales would begin sometime in 2022 with an estimated date of commencement in May 22'. Licenses for retail sales would be granted via lottery system. Applicants from "social equity" neighborhoods, or neighborhoods with high unemployment or drug arrests will get preference and will claim half the licenses. Entry into the lottery will be $500 and if won, a license will cost a total of $30,000. An initial vote could come as early as today and lawmakers must pass the bill by Wednesday. If they run out of time, the vote will get pushed back to later this summer.
