Cartoon of the Day: High Expectations
Performance
Virginia subcommittee kills bill to regulate the adult-use marijuana market.
Recreational marijuana sales in Virginia are unlikely to be fast-tracked after a House subcommittee effectively killed a bill that would regulate the market on Monday. A General Laws subcommittee voted 5-3 along party lines to punt Democratic Sen. Adam Ebbin's legislation to 2023, meaning lawmakers won't try to hash out details of the adult-use market until next year. That means efforts to allow early sales for medical cannabis and hemp companies are also dead after those proposals got incorporated into a larger bill addressing a regulatory framework for adult-use sales. Just two weeks remain in the legislative session in Richmond, leaving little time for additional action on cannabis legislation. "I would hope reasonable minds could come together and address a growing and very dangerous illicit market," said Jushi Holdings lobbyist and former state lawmaker Brian Moran, adding that the governor could put forth a bill or lawmakers could address the issue in the budget. "There are still avenues."
Bluma Wellness 2.0
In April 2021, CRLBF announced the closing of the Company's acquisition of Bluma Wellness. The CEO of Bluma Wellness was Brady Cobb, and Michael Bondurant was President and CEO. Yesterday the pair emerged as the listed officers of Green Sentry Holdings, which MedMen Enterprises Inc. announced plans to sell its Florida assets to Green Sentry Holdings LLC for $83 million. The cash deal includes the sale of substantially all of MedMen's Florida-based assets, including its license, dispensaries, inventory, and cultivation operations. Additionally, the Company agreed to license its trademarks in the state for two years, subject to termination rights, for a quarterly revenue-based fee. The transaction is subject to customary closing conditions, including applicable regulatory approvals. The deal is expected to close in late April or early May 2022, pending the receipt of all required contractual consents and governmental approvals, including the requisite change of ownership approval from the Florida Office of Medical Marijuana Use.
TILT Holdings
TLLTF is a LONG
TLLTF will be launching adult-use cannabis delivery from its Commonwealth Alternative Care, Inc. dispensary in Taunton. The delivery service is made available through a partnership with Bracts & Pistils, a locally woman-owned and veteran-managed social equity cannabis delivery operator. Beginning March 2, Bracts & Pistils will deliver cannabis products from CAC Taunton to adult-use consumers in communities within a 25-mile radius, including New Bedford, Plymouth, and Wareham. Recreational cannabis orders can be placed at CAC's website and processed via Lantern, a Boston-based cannabis e-commerce marketplace. Delivery will be offered Wednesday through Sunday from 11 a.m. to 7 p.m. with a minimum order of $125. Orders will be delivered during a two-hour window.
From the PR: "TILT is proud to partner with Bracts & Pistils to serve additional customers in and around the Taunton area," said Gary Santo, CEO of TILT. "A veteran-owned local business led by an exceptional team, Bracts & Pistils was the clear choice to bring our adult-use delivery operations to life in Massachusetts. This is an exciting step for TILT and a natural way for us to expand our support for local social-equity operators."
