2019 Cannabis Business Award's Publication of the Year |
WEDNESDAY, NOVEMBER 27, 2024 |
FMCPG HAS BEEN SERVING AND REPRESENTING THE CANNABIS PHYSICIAN COMMUNITY SINCE 2020 |
FMCPG MEETING REGISTER BELOW |
THE "FLORIDA MEDICAL CANNABIS PHYSICIAN GROUP" (FMCPG) FOR ALL "MEDICAL MARIJUANA DOCTORS" AND "MMTC DIRECTORS ONLY "
DISCUSSION WILL INCLUDE:
TRUMP APPOINTMENTS EFFECT ON THE CANNABIS INDUSTRY IN FLORIDA
REVIEW OF THE OMMU AND CHANGES TO THE DOCTOR'S PATIENT INPUT PORTAL ON THE OMMU WEBSITE.
DOCTORS WITHIN OUR GROUP WILL DISCUSS HOW THEY HAVE BEEN WORKING AROUND SOME OF THE CHANGES
LEGISLATIVE AGENDA FOR 2024 -2025
REF'S ISSUES AND SOLUTIONS
CLICK HERE TO REGISTER FOR THE WEDNESDAY DEC 18, 2024 MEETING
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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. BLACK FRIDAY SPECIAL ONLY $399 **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 Cannabis Corp. Announces Insider Share Purchases By Executive Leadership and Board Members
TALLAHASSEE, Fla., Nov. 22, 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 that several members of its executive management team and board of directors have recently made purchases of the company’s subordinate voting shares, signaling their confidence in the company’s growth potential and direction.
Between November 8, 2024 and November 21, 2024, Chairman and CEO Kim Rivers, Director Thad Beshears, Director Peter Healy, Director Richard May, Director Thomas Milner, Director Jane Morreau, Director Susan Thronson, Chief Marketing Officer Gina Collins, Chief Technology Officer Nilyum Jhala, Chief Production Officer Kyle Landrum, Chief Information Officer Jason Pernell, Chief Legal Officer Eric Powers, Chief Operating Officer Marie Zhang, and Vice President of Investor Relations Christine Hersey purchased a total of 72,273 shares at prices between $5.63 and $7.19 per share. These insider purchases reflect the confidence and commitment of leadership in the long-term strategic plan for Trulieve and its shareholders.
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Trulieve to Open Medical Cannabis Dispensary in Jacksonville, Florida
TALLAHASSEE, Fla., Nov. 22, 2024 — Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company in the U.S., announced the opening of a new medical cannabis dispensary in Jacksonville, Florida on Saturday, November 23.
A grand opening celebration will be held Friday, December 6, beginning at 9 a.m., featuring music, specials, discounts, and opportunities to register for upcoming patient education sessions.
“We are committed to providing value, delivering quality, and helping our customers enhance their lives through cannabis,” said Trulieve’s Chief Executive Officer Kim Rivers. “We are excited to serve northern Duval County patients and caregivers at this new location.”
Trulieve Jacksonville Dunn Ave, located at 1141 Dunn Avenue, will be open 9 a.m. – 8:30 p.m. Monday through Saturday and 11 a.m. – 8 p.m. on Sundays, offering walk-in and express pickup service.
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The Cannabist Company Launches Exciting New Collaboration with Woman-Owned Ayurvedic Wellness Innovator Veda Warrior
Partnership Will Introduce Cannabis-Infused Holistic Wellness Products to New Jersey
November 20, 2024– The Cannabist Company (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) (“The Cannabist Company” or the “Company”), one of the most experienced cultivators, manufacturers, and retailers of cannabis products in the U.S., announced today the launch of its partnership with Veda Warrior, a New Jersey-based minority woman-owned Ayurvedic wellness brand on a mission to make cannabis wellness more accessible. The initial launch in the New Jersey market includes three cannabis-infused cooking essentials – ghee butter, olive oil, and coconut oil – to be followed by cannabis-infused edibles and topicals incorporating Ayurvedic herb blends.
The collaboration combines Veda Warrior’s holistic solutions, blending ancient and traditional herbal practices with high quality organic ingredients, with The Cannabist Company’s premium cannabis oil and state-of-the-art infusion process. The three cannabis-infused cooking essentials, including ghee butter, olive oil and coconut oil, will be available at the Company’s two Cannabist locations, as well as across its wholesale network. The second phase of the partnership launch will feature nine uniquely formulated effects-based products — five infused edibles and four infused topicals.
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Green Thumb Expands National Retail Footprint to Over 100 Stores Nationwide with the Opening of RISE Carson City on US HWY 50 in Nevada and RISE Brooklyn Park in Minnesota
Green Thumb’s retail footprint surpasses 100 locations nationwide with the opening of its 11th location in Nevada and 8th location in Minnesota on Saturday, November 23.
Conveniently situated near Lincoln Highway, RISE Dispensary Carson City on US HWY 50 will open at 3060 US-50 E, Carson City, NV 89701.
Just 20 minutes north of downtown Minneapolis, RISE Dispensary Brooklyn Park will open at 8016 Brooklyn Blvd., Brooklyn Park, MN 55445.
As is customary with all new RISE openings, grand opening profits will benefit local community partners. Profits from the RISE Dispensary Carson City on US HWY 50 grand opening will benefit The Boys & Girls Clubs of Western Nevada; profits from the RISE Dispensary Brooklyn Park grand opening will benefit Metro Meals on Wheels.
CHICAGO and VANCOUVER, British Columbia, Nov. 22, 2024 — RISE Dispensaries, a rapidly growing cannabis retail chain owned by Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), today announced the opening of its landmark 100th retail location, with RISE Dispensary Carson City on US HWY 50 on November 23, located at 3060 US-50 E, Carson City, NV 89701. In addition, the Company announced the opening of its 101st retail location with RISE Dispensary Brooklyn Park on November 23, located at 8016 Brooklyn Blvd., Brooklyn Park, MN 55445. The two new locations represent the 11th and 8th dispensaries to open in Nevada and Minnesota, respectively.
Beginning November 23, RISE Dispensary Carson City on US HWY 50 will proudly offer hand-picked, high-quality products and exceptional patient and customer care as Green Thumb’s milestone 100th retail location. Operating from 8 a.m. to 10 p.m. daily, the new dispensary will feature a broad selection of products, including RYTHM premium flower and vapes, Dogwalkers pre-rolls, and incredibles gummies and chocolates. Conveniently located downtown in Nevada’s bustling capital, Carson City, the new RISE location marks the second RISE Dispensary in the area.
READ MORE
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Introducing Hyer Kind: FLUENT’s New Cannabis Concentrates Line, Exclusively Available in Florida
Premium Cured Badder, Crumble, and Cured Resin Cartridges Launch for Medical Marijuana Patients to Enhance Wellness and Meet Surging Demand
TAMPA, Fla., Nov. 21, 2024 — Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) (“Cansortium” or the “Company”), a vertically integrated, multi-state cannabis company operating under the FLUENT™ brand, is proud to announce the launch of Hyer Kind, a cosmic voyage into the world of premium cannabis concentrates. Now exclusively available at all FLUENT dispensaries across Florida, Hyer Kind brings expertly crafted cured badder, crumble and cured resin cartridges tailored to enhance daily wellness routines and meet the growing demand for concentrates among medical marijuana patients in the Sunshine State.
“As FLUENT’s first brand dedicated exclusively to concentrates, Hyer Kind marks a key milestone for us,” said Robert Beasley, CEO of Cansortium. “We are so proud to be associated with a quality brand like Hyer Kind and know consumers in Florida will be happy that this offering is now available in our stores. From the whole flower selection to the extraction methods, we’re on a mission to set a new standard for concentrates by prioritizing flavor, quality, innovation and accessibility. It’s our responsibility to meet patients where they are by expanding our offerings and providing diverse price points to ensure everyone has access to the products that suit their needs.”
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Planet 13 Hires Bryant Ison as VP of National Marketing to Drive Brand Growth
LAS VEGAS, Nov. 21, 2024 — Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) (“Planet 13” or the “Company”), a leading vertically-integrated multi-state cannabis company, today announced the hiring of Bryant Ison as VP of National Marketing. Bryant Ison joins Planet 13 with a long history of driving brand growth for iconic global brands, such as Pepsi, Band-Aid, and Clorox. Ison has deep experience in the cannabis industry launching new brands and he will spearhead all marketing activities to grow the Planet 13 business.
“As part of our multi-year growth strategy, we are focused on significantly expanding the reach and sales of our award-winning in-house brands including our flower and extract brands Trendi and Medizin, HaHa gummies, and Dreamland chocolates,” said Bob Groesbeck, Co-CEO of Planet 13. “Bryant’s extensive experience in building and driving brand growth across iconic, emerging, and cannabis markets makes him an ideal leader for Planet 13’s expansion. We see tremendous opportunities in launching our brands in new markets as well as forming new collaborations with celebrity partners who want to expand their personal brand reach. With Bryant at the helm, we’re energized by the potential this holds for our business.”
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Viridian Chart of the Week: Debt Financings a Key Source of Capital for the Cannabis Industry The black line on the graph below shows that total YTD Capital Raises for the U.S. Cultivation and Retail sector (plant-touching companies) are up 141%, to $972M from $403M for the same period in 2023, a significantly stronger rebound than the overall U.S. Industry (including all 12 sectors that Viridian Capital tracks), which was up 56%.
The bars on the graph show that the composition of capital raises has also changed markedly. Approximately 98% of all capital raises in 2024 have been debt (indicated by various shades of red corresponding to issue size). Approximately 75% of the debt raised has been the refinancing of existing debt. Three large debt raises (>$100M shown in dark red) account for more than half of all capital raised YTD. Meanwhile, there has not been a similar large equity deal since 2021.
For all intents and purposes, the equity market is closed for plant-touching companies. Ironically, a large part of the reason for this is the overhang of positive catalysts like S3 and SAFER. On the supply side, no company wants to raise equity at prices they view to be substantially below intrinsic value (we agree). No CFO wants to be the guy who raised equity immediately before the market took off in response to one of the catalysts. On the demand side, there is no new capital in the market, and existing investors have been burned too many times. Also, as an investor, the natural inclination is to think that any company that wants to raise equity at these prices must be desperate.
Make no mistake, though, the capital crunch is still in full force. 2024 is shaping up to be the second worst capital raise year since 2018. It is a bit ominous to realize that the top 14 MSOs have a combined $2.3B of debt maturing in 2026, significantly more than was raised in any year except 2021. READ MORE |
Viridian Valuation Tracker: Have We Hit the Bottom for Stocks of Public Licensed Operators?
Valuation metrics have fallen pretty steeply since the beginning of November. Our favorite valuation metric, Adjusted EV/ 2025 EBITDAR, has fallen from 7.00x on 11/1 to 6.04x on 11/15. The more commonly seen EV/2025 EBITDA has taken an even steeper drop from a median of 6.2x to 4.77x.
The Viridian Deal Tracker has a Chart that shows that EV/ NTM EBITDA multiples are now lower than they were on 8/25/23, the last trading day before HHS first announced its restructuring approval. The decline has been shocking even to those of us who have lived through unpleasant cannabis Christmas seasons before.
However, we remain convinced that investors will be well rewarded if they position their portfolios to avoid credit issues caused by refinancing stress or other liquidity crises. Look for companies with adequate free cash flow adjusted current ratios and total liabilities to market cap under 2x, and resist the urge to watch the tape. We can’t promise you won’t find more coal in your stocking this year, but the upside is now pretty convincing. Hang in there!
To View this Week’s Full Valuation Analysis by Company and Sector Click on Our Viridian Valuation Tracker
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NATIONAL AND INTERNATIONAL NEWS |
Redhook Brewery and Montlake Futures Team Up to Launch Montlake Gameday Gold Lager, a New Craft Beer in Support of University of Washington Athletes
SEATTLE, Nov. 21, 2024 — Redhook Ale Brewery (“Redhook”), Seattle’s pioneering craft brewery and a subsidiary of Tilray Brands, Inc. (NASDAQ: TLRY and TSX: TLRY), officially presents their new partnership with the Montlake Futures NIL Collective, supporting student-athletes at the University of Washington (UW). Together, they launched Montlake Gameday Gold Lager, the Official Beer of the Montlake Futures NIL Collective. This unique lager stands out as the only beer dedicated to supporting UW student athletes.
Montlake Gameday Gold Lager debuted at Husky Stadium during home games and is available at Redhook Brewlab and Seattle-area grocery stores. This strategic partnership aims to empower UW student-athletes and strengthen UW Athletics while offering fans a new, delicious lager.
New Gameday Lager Available Now
“We are pleased to have two of our official partners, Redhook and Montlake Futures, collaborate on a product that benefits our student-athletes and resonates with fans,” said UW Director of Athletics Pat Chun. “This partnership supports our student-athletes’ NIL activities, starting right in our own backyard and The Greatest Setting in college football.”
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Tilray Brands Unveils 2024 Holiday Cannabis Gift Guide
Indulge in Premium Chocolate Edibles, Cannabis-Infused Drinks, New Pre-Rolls, and Top-Quality Flower – the Perfect Selection for Cannabis Connoisseurs this Festive Season!
TORONTO, Nov. 21, 2024 — Tilray Brands, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), a leading lifestyle and consumer packaged goods company, is excited to announce the launch of its 2024 Holiday Cannabis Gift Guide. The guide features a handpicked selection of cannabis products that are perfect for the festive season. With offerings from Tilray’s most popular Canadian cannabis brands, there’s something special for everyone on your holiday list. This year, Tilray Brands Canada invites you to spread the holiday cheer with our exclusive cannabis collection. From Broken Coast’s premium flower to Good Supply’s new vapes, Chowie Wowie’s chocolates, Solei’s wellness products, and Mollo’s refreshing THC seltzers, our Cannabis Gift Guide has something for everyone to enjoy.
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Tilray Brands Gets Festive with its 2024 Holiday Beverage Gift Guide
Explore Award-Winning Craft Beers, Premium Spirits, Sparkling Water, Non-Alcoholic Brews, and New Hemp-Derived THC Drinks
Discover the Best Craft Brews from Across the U.S. at Tilray’s Festive Holiday Brewpub Events
NEW YORK, Nov. 21, 2024 — Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), a leading global lifestyle and consumer packaged goods company, is pleased to present its 2024 holiday spirits and craft beverage gift guide, full of unique gift ideas for your loved ones. This curated selection features new premium spirits, award-winning brews, sparkling water, non-alcoholic brews, and new hemp-derived delta-9 THC drinks from Tilray Brands’ portfolio of craft beverage brands. In addition to the gift guide, Tilray announces a series of holiday events at select brew pubs across the U.S.
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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 887,000
AND 696 DISPENSING LOCATIONS |
LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from
NOVEMBER 22, 2024 Report BY THE NUMBERS
Qualified Patients: (Active ID Card) NOV 22,2024- 887,032
NOV 15,2024- 885,074
NOV 08,2024- 882,430
NOV 01,2024- 882,524
OCT 25,2024- 882,553
Pattients Last Week: 1,958
Qualified Ordering Physicians: 2,432
New Doctors Last Week: 4 Reporting Period: NOV 15 TO NOV 21 2024
Amount of Medical Marijuana Dispensed - (mgs THC) 359,933,937
Amount of Low-THC Cannabis Dispensed - (mgs CBD) 814,775
Amount of Marijuana in a From for Smoking (oz) 123,055.458
Approved Dispensing Locations: 696
Added Last Week: 1 Trulieve - JACKSONVILLE |
UPCOMING MEETING AND CONFERENCES |
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Join the Cannabis News Florida force online and in print. We offer several marketing options to fit all budgets:
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