2019 Cannabis Business Award's Publication of the Year |
FLORIDA SUPREME COURT SAYS YES!! |
FMCPG HAS BEEN SERVING AND REPRESENTING THE CANNABIS PHYSICIAN COMMUNITY
SINCE 2020 |
REGISTER FOR TONIGHT'S MEETING WEDNESDAY, JUNE 5, 2024 AT 6:30PM THE "FLORIDA MEDICAL CANNABIS PHYSICIAN GROUP" (FMCPG) FOR ALL
"MEDICAL MARIJUANA DOCTORS" AND "MMTC DIRECTORS ONLY " THE OMMU WILL BE PRESENTING THE CHANGES TO THE DOCTOR'S PATIENT INPUT PORTAL ON THE OMMU WEBSITE. THIS WILL BE A "LIVE"PRESENTATION ON HOW TO USE THE NEW SYSTEM. YOU WILL BE ABLE TO ASK QUESTIONS TO THE IT STAFF OF THE OMMU.
THESE CHANGES WERE EFFECTIVE ON TUESDAY JUNE 4TH.
CLICK HERE TO REGISTER FOR THE JUNE 5, 2024 MEETING |
MEDICAL CANNABIS PHYSICIAN
PROMOTION PACKAGE BY CANNABIS NEWS FLORIDA ARTICLE: Physician will contribute an article of 350 words**. This article will appear in the Cannabis News Florida e-newsletter for one month (4 weeks).
E-MAIL BLAST: Cannabis News Florida will send out one e-mail blast promoting the Physician to the other physicians in three zip code areas or one city to be determined by the Physician. The Physician will supply the information for the email blast. The Article above can be used in the e-mail blast.
The cost of this program is ONLY $500.
**Cannabis News Florida will assign a writer for a telephone interview with the Physician and create the article to be published. Physician shall have the right to review and approve the article before publication for an additional cost of $100.
IF YOU ARE INTERESTED, PLEASE EMAIL ME AT CHARLES@CANNABISNEWSFLORIDA.COM OR CALL MY CELL AT 954-605-4785 |
NEWS FROM THE PAST WEEK RELATING TO THE BUSINESS OF
MMTC'S IN FLORIDA
Click on Company Logo to be Transferred to Web Site |
TRULIEVE ANNOUNCES OPENING OF 200TH DISPENSARY
TALLAHASSEE, Fla., June 3, 2024 — Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company in the U.S., today announced the opening of a new medical cannabis dispensary in Brooksville, Florida, marking the Company’s 200th dispensary in the United States.
A grand opening celebration will be held Friday, June 14, beginning at 9 a.m., featuring a ribbon-cutting ceremony, food trucks, music, swag giveaways, specials, discounts, and opportunities to learn more about the Smart and Safe Florida ballot initiative for adult use.
“We are thrilled to celebrate this major milestone with our 200th dispensary opening in our home state of Florida,” said Trulieve’s Chief Executive Officer Kim Rivers. “Since our first medical dispensary opened in 2016, Trulieve has grown to become the world’s largest legal cannabis retailer. We are proud to be out front supporting expanded access to cannabis for patients and adults through advocacy, convenient retail locations and high quality products.”
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TRULIEVE ANNOUNCES LITIGATION SETTLEMENT AND ACQUISITION OF OHIO ASSETS
TALLAHASSEE, Fla., May 30, 2024 /PRNewswire/ — Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company in the U.S., today announced that it has reached an agreement resolving the active litigation.
In accordance with the settlement, Trulieve will acquire Harvest of Ohio, LLC, which will hold licenses for medical cannabis dispensaries in Columbus and Beavercreek. The Harvest of OH medical cannabis dispensary in Athens will be transferred to Ariane Kirkpatrick and will be rebranded under the name Mavuno. Separately, Kirkpatrick will divest ownership of Harvest Grows, LLC and Harvest Processing, LLC, which operate a production facility in Ironton, to unrelated third parties. Trulieve will enter into service agreements to provide operational support to the Ironton production facility. Trulieve will pay an immaterial amount to Kirkpatrick. Other terms of the resolution remain confidential.
Kim Rivers, Trulieve CEO stated, “We are happy to announce the resolution of our litigation that triples our footprint in Ohio. We look forward to serving medical patients and adult use customers when permitted.”
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AYR PARTNERS WITH ICONIC KOWLOON RESTAURANT TO LAUNCH LIMITED EDITION LEVIA KOWLOON MAI TAI THC INFUSED SELTZER
BOSTON, May 29, 2024 — AYR Wellness Inc. (CSE: AYR.A, OTCQX: AYRWF) (“AYR” or the “Company”), a leading vertically integrated U.S. multi-state cannabis operator (“MSO”), today announced LEVIA, the Company’s brand of cannabis-infused seltzers and tinctures, has partnered with the iconic Kowloon Restaurant, the Boston area’s landmark Asian restaurant and entertainment destination, to launch a new limited edition cannabis-infused seltzer. The LEVIA Kowloon Mai Tai seltzer pays homage to Kowloon’s famous Mai Tai cocktail while elevating summer’s warm, sunny days with a fast-acting, expertly formulated infused beverage bursting with vibrant, all-natural flavor.
LEVIA and Kowloon will commemorate the launch of the infused Mai Tai beverage with a celebration on June 1, 2024 from 11:30am – 2:30pm EST at AYR’s Watertown Dispensary, located at 48 North Beacon Street, Watertown, MA. Guests can sample non-infused versions of the beverage and visit Kowloon’s on-site food truck. LEVIA will also provide samples of the uninfused beverage on Friday June 14, 2024, at Kowloon Restaurant’s 21+ evening of live music event located at 948 Broadway Saugus, MA. The new infused beverage will be available at AYR’s dispensaries across Greater Boston, as well as retail partners across the state beginning on Saturday, June 1st.
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RED WHITE & BLOOM REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS
TORONTO, May 30, 2024 — Red White & Bloom Brands Inc. (CSE: RWB) (“RWB” or the “Company”) is pleased to report it has filed its Condensed Interim Consolidated Financial Statements (“the Financial Statements”), Management’s Discussion and Analysis (“MD&A”), and associated certifications for its first quarter ended March 31, 2024.
As a reminder to all of its shareholders, the Company will hold its Annual General Meeting (“AGM”) on Friday, June 14th, 2024.
President’s Commentary
Colby De Zen, President, stated, “After significant efforts, the Aleafia transaction was successfully closed in mid-January 2024. With the closing behind us, the RWB management team was finally given the opportunity to begin the process of implementing changes and commencing integration. We attacked the integration with a three-prong approach; The first order of business was to right size Aleafia, which included the complete overhaul of C-Level executives. Our next step was to comprehensively reassess our entire product lineup using a variety of metrics, such as market share, margin analysis, emerging trends, and product formats. This comprehensive review extended throughout the value chain evaluating third-party vendors, as well as making strategic decisions to enhance our in-house capabilities through automation and internal investments, while also capitalizing on procurement synergies across the company. As a result of these efforts, we made the decision to discontinue several SKUs while introducing a range of new and innovative formats. These strategic moves pave the way for Aleafia’s Divvy Brand to emerge as the most competitively priced option for consumers seeking both ready-to-use and bulk cannabis products in Canada. Lastly, we’ve undertaken a campaign to reengage our customers through the development of a collaborative go to market strategy to address their needs. The introduction of our new product formats using this hands-on approach has been very well received. As the first quarter advanced, there was a noticeable improvement in customer growth and market share, with momentum increasing as the quarter drew to a close. The significant operational enhancements implemented in Q1 will manifest through our second quarter and more substantially throughout the remainder of fiscal 2024.” Mr. De Zen went on to comment “It is important to note that our increase in general and administrative expenses in Q1 are directly correlated to non-recurring, transitional costs associated with the acquisition and integration of Aleafia which included severance, restructuring, and professional fees. As previously stated, with the Aleafia acquisition now firmly entrenched, RWB can and will remain steadfast in its commitment to profitable growth.”
Mr. De Zen concluded, “Despite the considerable efforts and focus on swiftly implementing the Aleafia integration, I am pleased to report that the execution of previously defined near-term priorities elsewhere in the Company remain on target. We continue to make progress in finalizing the ongoing restructuring of our financing arrangements, expanding our asset-light approach in the US for our award-winning brands, completing the expansion of our retail footprint in the state of Florida in fiscal 2024, and divesting all non-strategic assets or operations by the close of fiscal 2024”.
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CANSORTIUM REPORTS FIRST QUARTER 2024 RESULTS
– Q1 Revenue up 14% YoY to $25.2 Million
– 10th Consecutive Quarter of Positive Cash Flow from Operations
TAMPA, Fla., May 30, 2024 (GLOBE NEWSWIRE) — Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) (“Cansortium” or the “Company”), a vertically-integrated, multi-state cannabis company operating under the FLUENT™ brand, today announced financial and operating results for the first quarter ended March 31, 2024. Unless otherwise indicated, all financial results are presented in U.S. dollars.
“We delivered another quarter of year-over-year revenue growth and positive cash flow generation during the first quarter as we continued to execute on our growth objectives,” said CEO Robert Beasley. “We are making the critical investments needed to lay the foundation for growth and support our future plans and remain excited about the opportunities ahead.”
“In Florida, we continue to ramp our new dispensaries while driving cultivation improvements, leading to production of more high quality, high THC products. These operating improvements drove another quarter of higher retail prices and average basket size, carrying over the trends we saw in the fourth quarter.”
“Looking ahead, we are excited about the business combination with RIV Capital announced this morning, laying the groundwork for a presence in four of the five largest population states in the country upon closing. We remain laser focused on our existing portfolio in Florida, Pennsylvania and Texas and look forward to closing the RIV Capital agreement in the fourth quarter.”
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INTERVIEW WITH DR TEREL NEWTON FLORIDA MEDICAL DIRECTOR FROM TRULIEVE AT 2024 FMCCE BY CHARLES FELIX FROM CANNABIS NEWS FLORIDA AND FLORIDA MEDICAL CANNABIS PHYSICIANS GROUP CLICK HERE TO WATCH VIDEO |
AN INTERVIEW WITH DEBBIE ALTMAN, FOUNDER AND CEO OF THE HIPPIE CHICK
What aspect of the cannabis sector do you operate in?
I’m the Founder and CEO of The Hippie Chick (THC), and yes, the pun is intentional.
THC is a Cannabis Concierge & Consulting agency. While we serve anyone with a valid Medical Marijuana card issued by the State of Florida, our focus is on assisting the over-forty demographic.
On the concierge side, we provide personalized assistance to patients, offering education, scheduling support for obtaining or renewing Medical Marijuana cards, aiding in product selection, and addressing queries about dosing and packaging.
On the consulting front, we collaborate with medical professionals, dispensaries, and cannabis industry entities, offering services such as marketing, education, and event management.
READ MORE |
RIV Merger Has Positive Impact for Cansortium
The announced merger of RIV Capital into Cansortium vaults the surviving company, Cansortium, into the top decile of Viridian's Cannabis Credit Rankings.
Under the terms of the arrangement, Cansortium will acquire all of the issued and outstanding Class A common shares of RIV Capital in exchange for Cansortium shares. RIV shareholders will receive 1.245 shares of Cansortium for each RIV share owned. Cansortium shareholders are expected to hold approximately 51.25% of the combined company, while RIV and Hawthorn together are expected to own 48.75%. Hawthorne, a subsidiary of Scotts Miracle Grow, invested $175M in convertible debt of RIV and, as part of the transaction, will convert this debt into a new class of non-voting shares of Cansortium.
The proforma impacts of the transaction are dramatic for Cansortium credit quality. The Viridian Credit model ranking of the company will improve (on a preliminary basis) from #18 to #8.
Liquidity will be improved significantly, increasing Cansortium’s net cash from -$60.7M to $5.1M. The Viridian Credit model liquidity rank for the company will improve (on a preliminary basis) from #23 to #9.
Leverage will also improve dramatically, predominantly due to the conversion of the $175M Hawthorne convertible note to equity. The Viridian Credit model leverage rank will increase (on a preliminary basis) from #15 to #9.
Profitability will initially take a hit due to the lower margins experienced by RIV as it ramps up Etain in NY. The Viridian Capital credit model profitability rank will deteriorate (on a preliminary basis) from #8 to #14. Size will improve from #21 to #10 as assets are more than double, and the market cap benefits from the extra shares and lowers debt from the Hawthorne conversion. We will continue to evaluate this transaction more intensively, and our preliminary rankings may change based on this scrutiny.
The implied support of Scotts Miracle Grow is an important intangible aspect of the transaction that should not be overlooked.
The ability of the combined company to attack opportunities in the potential adult rec conversion of Pennsylvania and Florida is significantly improved by the transaction.
View the Viridian Credit Tracker for Our Detailed Analysis of the RIV Capital - Cansortium Merger.
Click HERE to See the Viridian Credit Rankings for all Cannabis Industry Sectors From Biotech to Brands |
NATIONAL AND INTERNATIONAL NEWS |
VILLAGE FARMS INTERNATIONAL BOOSTS OWNERSHIP IN FAST-GROWING ROSE LIFESCIENCE
Purchase is Immediately Accretive to Adjusted EBITDA, Net Income
VANCOUVER, British Columbia and ORLANDO, Fla., May 30, 2024 (GLOBE NEWSWIRE) — Village Farms International, Inc. (“Village Farms” or “the Company”) (NASDAQ: VFF) today announces it has increased its ownership of Quebec-based Rose LifeScience Inc. (“Rose”) by 10% to hold an 80% interest.
“Village Farms’ initial 70% acquisition of Rose stands out as one of the most complementary business combinations to date in the Canadian cannabis industry. Since late 2021, the combination of the experienced teams at Rose and Pure Sunfarms have driven Village Farms into the number two share rank nationally as Rose sales grew more than 300% to reach the number two share rank in Quebec, with each closing the gap to number one,” said Michael DeGiglio, President and Chief Executive Officer, Village Farms.
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VILLAGE FARMS INTERNATIONAL AMENDS AND EXTENDS OPERATING LOAN
AMENDMENTS PROVIDE ADDITIONAL FLEXIBILITY AND REFLECT CONSIDERABLE GROWTH OF BUSINESS
VANCOUVER, British Columbia and ORLANDO, Fla.,, May 31, 2024 — Village Farms International, Inc. (“Village Farms” or “the Company”) (NASDAQ: VFF) announces it has amended and extended the credit agreement for its C$10 million revolving line with a Canadian chartered bank (the “Operating Loan”), effective May 24, 2024. The maturity date for the Operating Loan has been extended from May 24, 2024 to May 24, 2027.
Amendments include expansion of the Company’s borrowing options under the Operating Loan to provide additional financial flexibility. The new borrowing options provide for advances on the Operating Loan based on the Canadian Prime Rate, Base Rate, US Prime Rate and the Canadian Overnight Repo Rate (CORRA) in addition to the Secured Overnight Financial Rate (SOFR), which was already available to the Company. Other amendments reflect the considerable expansion and growth of Village Farms’ business since entering into the original 2013 credit agreement. Other material terms for the Operating Loan are unchanged.
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OPTIMI HEALTH AWARDED DRUG ESTABLISHMENT LICENCE FROM HEALTH CANADA
VANCOUVER, British Columbia, June 03, 2024 – Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), a leading Health Canada-licensed psychedelics pharmaceutical manufacturer specializing in controlled substances such as botanical psilocybin and MDMA, is pleased to announce that it has been awarded a Drug Establishment Licence (DEL) from Health Canada for the manufacturing and sale of its MDMA and psilocybin capsules. This milestone designation affirms a compliant rating for Good Manufacturing Practices (GMP), enabling the Company to supply MDMA and psilocybin capsules to patients with PTSD and Treatment-Resistant Depression under Australia’s Authorised Prescriber Scheme, and to regulated jurisdictions globally pending export documentation from Health Canada.
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CRONOS TERMINATES SALE-LEASEBACK OF PEACE NATURALS CAMPUS
TORONTO, May 28, 2024 — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”) announced today that it has terminated its agreement (the “Sale Agreement”) with Future Farmco Canada Inc. (the “Buyer”), for the sale and leaseback of its property located at 4491 Concession 12 Sunnidale Road, Stayner, Ontario, Canada, L0M 1S0 (the “Peace Naturals Campus”). The Buyer did not satisfy or waive its due diligence and financing condition by the May 27, 2024 deadline, as set forth in the Sale Agreement. All amounts paid by the Buyer as part of a security deposit that were previously held in trust have been returned, in accordance with the Sale Agreement. The Company is continuing to evaluate its strategic options for the Peace Naturals Campus, which may include continuing and expanding operations at the facility.
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OPTIMI HEALTH SECURES IMPORT PERMIT FROM MIND MEDICINE AUSTRALIA FOR MDMA AND PSILOCYBIN CAPSULES
Company preparing to export 160 doses of MDMA and psilocybin under Australia’s Authorized Prescriber Scheme
VANCOUVER, British Columbia, May 29, 2024 — Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN), a leading Health Canada licensed GMP psychedelics pharmaceutical manufacturer, specializing in controlled substances such as psilocybin and MDMA, is pleased to announce that it has received an import permit from Mind Medicine Australia (MMA) to export its GMP MDMA and psilocybin capsules to supply approved psychiatrists under Australia’s Authorised Prescriber Scheme.
Mind Medicine Australia, a partner with Optimi since February 2023, achieved a world-first last year by successfully advocating for the rescheduling of MDMA for the treatment of PTSD and psilocybin for treatment-resistant depression (TRD). As a result, these medicines are now available to Authorised Prescribers in Australia, paving the way for groundbreaking therapeutic options this year.
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ARTELO BIOSCIENCES PRESENTS HIGHLY ENCOURAGING DATA TOWARDS DEVELOPING A SOLID DOSAGE FORM OF ART12.11 AT CT-CANN24
ART12.11 demonstrates comparable pharmacokinetics compared to Epidiolex®
SOLANA BEACH, Calif., May 29, 2024 — Artelo Biosciences, Inc. (Nasdaq: ARTL), a clinical-stage pharmaceutical company focused on modulating lipid-signaling pathways to develop treatments for people living with cancer, pain, dermatologic and neurological conditions, today announced Dr. Andrew Yates presented new pre-clinical data on ART12.11 at the CT-CANN24 conference which is being held May 29-30, 2024 at the Hilton London Canary Wharf in London, UK.
The presentation, titled “An Aqueous Suspension of a Novel Cannabidiol: Tetramethylpyrazine Co-crystal, demonstrates a pharmacokinetic profile comparable with Epidiolex® in Rats,” highlights the Company’s patented cocrystal of CBD and TMP (tetramethylpyrazine), ART12.11, in an unoptimized formulation, demonstrated comparable pharmacokinetics of CBD and its metabolites to a mimic of Epidiolex, an FDA approved oral solution of CBD in ethanol and sesame oil used for controlling seizures in orphan childhood disorders with over $845 million in net sales for 2023. Oral solutions are commonly used for treating young children; however, for adolescents and adults a solid dosage form is preferred. A tablet form of ART12.11 is expected to be more attractive than an oral solution given its advantages in precise dosing, storage and transport.
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TERRASCEND CELEBRATES THE OPENING OF ITS NEW DETROIT DISPENSARY, GAGE 313
GAGE 313 IS THE COMPANY’S 20TH MICHIGAN DISPENSARY
TORONTO, May 29, 2024 — TerrAscend Corp. (“TerrAscend” or the “Company”) (TSX: TSND) (OTCQX: TSNDF), a leading North American cannabis company, today announced the opening of its new Detroit dispensary, GAGE 313. Located at 14239 8 Mile Road, Detroit, MI 48235, GAGE 313 is now open for patients and adult-use consumers.
GAGE 313 is TerrAscend’s third Detroit location, bringing the same best-in-class experience as its other dispensaries throughout the state. Customers can curate their personal cannabis exploration with the help of dedicated staff members and a rich product portfolio, which includes offerings from Cookies, GAGE, Kind Tree, Legend, and Lemonnade, along with products offered by local minority-owned brands.
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BELOW ARE THE LINKS TO THE DIRECTORY OF FLORIDA CANNABIS DOCTORS AND
DISPENSARIES IN THE STATE OF FLORIDA |
QUALIFIED PATIENTS OVER 882,000 AND 643 DISPENSING LOCATIONS
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LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from
MAY 31, 2024 Report
BY THE NUMBERS Qualified Patients: (Active ID Card):
MAY 31 2024- 882,604 MAY 24 2024- 882,407 MAY 17 2024- 881,557
MAY 10 2024- 878,510 MAY 03 2024- 880,596 APR 26 2024- 880,240
Pattients Last Week: 197 Qualified Ordering Physicians: 2,334 New Doctors Last Week: -5 Reporting Period: MAY 24 TO MAY 30 2024 Amount of Medical Marijuana Dispensed - (mgs THC) 335,962,538
Amount of Low-THC Cannabis Dispensed - (mgs CBD) 3,356,089
Amount of Marijuana in a From for Smoking (oz) 116,360.455 Approved Dispensing Locations: 643 ADD LAST WEEK : 5
COOKIES - BRADENTON AND PORT ST. LUCIE JUNGLE BOYS - TAMPA
THE FLOWERY - VENICE TRULIEVE - BROOKSVILLE |
UPCOMING MEETING AND CONFERENCES |
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