Q&A Replay (AYRWF, CLVR, CGC, IIPR)
Yesterday, we hosted our yearend Q&A session to close out 2021. We answered questions on the most asked about stocks in our Consumables universe along with live questions. Among others, we spoke about DASH, QSR, SAM, LW, CLVR, AYRWF, CGC, IIPR, and the Georgia Senate election implications for the cannabis sector.
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CLICK HERE for event replays (includes video/audio replays and materials link) |
New Jersey legalization measures stall on Murphy’s desk
Gov. Phil Murphy (D) has raised concerns on decriminalizing cannabis days before the constitutional amendment to legalize marijuana goes into effect. Murphy has been a vocal advocate for legalizing marijuana in his state – his current stalling on the decriminalization bill has to do with underage penalties. According to Politico, Murphy wants to sign both the legalization and decriminalization bills at the same time. However, having a legislative fix to the decriminalization bill before the new year seems unlikely. In its current iteration, penalties would be removed for those under the age of 21 as well as for adults. Murphy wants to change it so that cannabis is regulated like alcohol in terms of underage usage: legal for adults to possess, but with penalties for underage users. If there’s a delay in the signing, then cannabis would still be legal for adults in New Jersey for adults under the state Constitution, and state legislators would have to reconvene in 2021 to hash out the details.
Columbia Care opens its first dispensary in Virginia (CCHWF)
Columbia Care announced the opening of its first dispensary in Virginia as the only vertically integrated medical cannabis provider in the Hampton Roads/Norfolk region. In April 2020, Columbia Care received the Virginia Board of Pharmacy’s approval to commence operations and has since completed a 65,000 sq. ft. cultivation and manufacturing center with the dispensary located on-site. With its recently announced acquisition of Green Leaf Medical, Columbia Care will have an additional dispensary and an 82,000 sq. ft. cultivation and production facility in the Richmond area. Green Leaf is the largest cultivator in the state and commenced cultivation operations in May 2020 and retail operations in November 2020. Columbia Care will have 147, 765 sq. ft. of cultivation and manufacturing space in the state with the transaction close. The only other public company with cultivation in Virginia is Jushi Holdings.
Virginia’s medical marijuana program just had its first sale in October 2020. Each license is entitled to operate one co-located cultivation/dispensary facility and five stand-alone dispensaries in their authorized region. Columbia Care has the opportunity to open twelve dispensaries in the state. Gov. Ralph Northam (D) has intended to convert the state’s program from medical to adult-use and medical use.
CLICK HERE for event replays (includes video/audio replays and materials link)
