The next DEA Administrator
We will likely be hearing more from the Bidens administration views on Majiuarana in the coming weeks. President Joe Biden’s nominee to lead the Drug Enforcement Administration is Anne Milgram, a former NJ Attorney-general. There are limited comments from her on MJ reform, but she has previously described a New Jersey medical marijuana bill as “workable” while serving at the state’s attorney general. Biden announced Milgram as his pick to be the next DEA administrator on Monday, and now her nomination heads to the Senate. She may be asked to elaborate on her views about MJ during a confirmation hearing before the Judiciary Committee.
Trulieve Acquisitions
Trulieve acquired three West Virginia dispensary permits from Solevo Wellness for $650,000. $150,000 was a cash payment and $500,000 in Trulieve subordinate voting shares. This acquisition comes just eight days after Trulieve's acquisition of three Pennsylvania dispensaries on April 5th. Trulieve is broadening its concentration from Florida to new states. Even after this acquisition, Trulieve has 86% concentration in Florida and 3.2% concentration in West Virginia. Columbia Care and Verano Holdings each also have one location in West Virginia. Sales in West Virginia have not commenced yet, but the state has started approving patient licenses.
Why did TCNNF issue more shares after just selling stock worth $200M? A bigger acquisition is likely!
Verano closes AZ
Verano Holdings Corp., announced it has closed on its Arizona acquisitions of Territory Dispensary, Emerald Dispensary and Local Joint Dispensary. The Company now has the third largest retail footprint in Arizona with six active storefronts, plus two cultivation facilities.
