Cresco Maryland
While I'm sure some are disappointed, we are happy to see the discipline around M&A.
Cresco Labs announced today the termination of the previously announced definitive agreement to acquire 100% of the outstanding equity interest in Blair Wellness, a Baltimore, Maryland, medical cannabis dispensary. "We have terminated the purchase agreement with Blair Wellness due to the failure of certain closing conditions to be met prior to our specified termination date," said Charlie Bachtell, Cresco Labs' CEO & Co-founder. "We will continue to look for other avenues to expand our footprint in Maryland and execute our strategy of going deep in meaningful, material states." Blair Wellness was initially expected to close during Q4 2021. There are no termination fees associated with the Transaction.
Expanded TCNNF Partnership
Trulieve yesterday today announced an expanded partnership with Connected Cannabis Co., a ten-year-old cannabis cultivator. Through this agreement, Trulievewill is the exclusive producer, processor, and retailer of Connectedbranded products throughout Florida. Connected branded products will be available exclusively at Trulieve's 111 Florida dispensaries later this year. Trulieve already partners with Connected in Arizona and looking to expand the partnership with Connected. Kim Rivers, CEO of Trulieve - "Connected maintains a portfolio of proprietary top-shelf strains that our customers and patients desire in other markets, and we anticipate a similar response in Florida. Connected has been building a proprietary genetics portfolio of premium strains and meticulously cultivating cannabis at scale since 2009."
Cannabis policy tAKES center stage.
Baton Rouge activist and Louisiana Senate candidate Gary Chambers released a new campaign advertisement Tuesday highlighting his stance on marijuana.
The 2022 Louisiana Senate race took an interesting turn yesterday. Democratic candidate Gary Chambers, challenging GOP Sen. John Neely Kennedy, released an ad focused on incarceration for low-level cannabis possession. "Most of the people police are arresting aren't dealers, but rather people with small amounts of pot — just like me," Chambers says in the ad while smoking a blunt. Chambers announced his plans to challenge John Kennedy for a seat in the Senate last week. In a recent advertisement posted to his social media channels, Chambers smokes marijuana to reduce the stigma around the drug, according to his explanation of the ad. In the advertisement, Chambers reads statistics on arrest rates for marijuana while smoking marijuana throughout the commercial. "Every 37 seconds someone is arrested for possession of marijuana," Chambers said in the ad. "Black people are four times more likely to be arrested for marijuana laws than white people. States waste $3.7 billion enforcing marijuana laws every year."
