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 THE NEXT MEETING
WEDNESDAY, JUNE 19, 2024 AT 6:30PM THE
"FLORIDA MEDICAL CANNABIS PHYSICIAN GROUP" (FMCPG)
FOR ALL
"MEDICAL MARIJUANA DOCTORS" AND "MMTC DIRECTORS ONLY " TOPICS TO BE DISCUSSED PLANNING OF OUR "2024/2025 LEGISLATIVE PRIORITIES" DISCUSSION TOPICS:
ADULT USE ON THE BALLOT IN NOVEMBER HOW WILL THIS AFFECT YOUR PRACTICE AND PATIENTS? THE HEMP BILL: WHAT'S NEW QUESTIONS FROM PHYSICIANS
UPDATE ON RFE'S HOW TO BEST ANSWER YOUR PATIENT QUESTIONS
MEMBERS OF THE FLORIDA MEDICAL CANNABIS PHYSICIANS GROUP EMAIL CHARLES FELIX AT charles@cannabisnewsflorida.com FOR THE MEMBER DISCOUNT CODE FOR THIS YEARS FLORIDA MEDICAL CANNABIS CONFERENCE & EXHIBITION |
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 |
AYR WELLNESS ANNOUNCES EXPIRY OF $9.07 SHARE PURCHASE WARRANTS AND CONVERSION OF MULTIPLE VOTING SHARES
MIAMI, Fla., May 24, 2024 – AYR Wellness Inc. (CSE: AYR.A) (OTCQX: AYRWF) (“AYR” or the “Company“), a leading vertically integrated U.S. multi-state cannabis operator, announced today that the 2,874,058 warrants exercisable to purchase the same number subordinate, limited and restricted voting shares of AYR (“Equity Shares“) at a price of US$9.07 have expired in accordance with the applicable provisions of the warrant agency agreement dated December 21, 2017 between the Company and Odyssey Trust Company, as warrant agent, as amended.
In addition, AYR announced today that pursuant to the Company’s amended and restated articles, the multiple voting shares of the Company (“Multiple Voting Shares“) were automatically converted into Equity Shares on a one-for-one basis effective as of May 24, 2024, being the date that was 60 months from the date of first issuance of a Multiple Voting Share.
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CURALEAF CELEBRATES MIAMI NORTH BISCAYNE DISPENSARY OPENING
New North Miami Beach location expands the Company’s retail presence to 62 locations in Florida and 146 nationwide
NEW YORK, May 22, 2024 — Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading international provider of consumer cannabis products, today announced the opening of Curaleaf Miami North Biscayne, located at 2250 NE 163rd St. Suite 1, North Miami Beach, FL 33160. The location marks the Company’s 62nd dispensary in Florida and 146th nationwide.
Conveniently situated near Florida’s largest urban park, Oleta River State Park, and North Miami Beach, Curaleaf’s newest retail location opened its doors to licensed medical patients on May 21. The dispensary will operate from 9:00 a.m. to 8:30 p.m. ET Monday through Saturday and 10:00 a.m. to 7:00 p.m. ET on Sunday. Curaleaf Miami North Biscayne will celebrate its grand opening on June 1 with a ribbon-cutting ceremony at 9:00 a.m. ET, followed by festivities throughout the day, including exclusive doorbuster deals and giveaways.
READ MORE | CURALEAF RESPONDS TO MILLER AMENDMENT TO NDAA / FARM BILL
May 24, 2024 — Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading international provider of consumer cannabis products, today reacted to the House Committee on Agriculture’s approval of an amendment to the 2018 Farm Bill. As the largest operator in the cannabis sector and as a company that recently announced its entry into the hemp-derived THC products space, Curaleaf issued a statement to clarify its position regarding yesterday’s Miller amendment.
“We disagree with yesterday’s amendment filed by Mary Miller (R-IL), which is an attempt to roll back the Farm Bill,” shared Executive Chairman Boris Jordan. “We support hemp farmers, and we believe that hemp-derived products made within the guidelines of the Farm Bill should be available to adults with strict age gating and safety standards. We believe there should be one regulatory framework for all cannabinoids, and that all legal players in the hemp-derived product market must adhere to the same safety and age restrictive standards in order to combat the dangers of the illicit market – just as in cannabis.”
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CANSORTIUM ANNOUNCES CHANGE IN CHIEF FINANCIAL OFFICER
May 16, 2024 — Cansortium Inc. (CSE: TIUM.U) (OTCQX: CNTMF) (“Cansortium” or the “Company”), a vertically-integrated cannabis company operating under the FLUENT™ brand, announces that Jeffrey Batliner has tendered his resignation as Chief Financial Officer (“CFO”) of the Company effective May 13, 2024. The Company is also pleased to announce that Patricia Fonseca has been re-appointed as the CFO of the Company effective immediately. Ms. Fonseca has previously served as the CFO of the Company from March 9, 2021 to November 21, 2022.
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HOW DOES THE STOCK MARKET VALUE PUBLIC PSYCHEDELICS COMPANIES?
May 24, 2024 – This week’s Viridian Valuation Tracker focuses on the nine Psychedelic companies with over $10M of market cap. Psychedelic companies, like other predominantly pre-revenue sectors, are notoriously difficult to value. A quick peek at the valuation report shows that standard measures like EV/Revenue or EV/EBITDA are meaningless as only two of the nine companies have projected revenues in 2025, and none have positive EBITDA. Market/book is one metric that makes sense for the group. The current median value is 2.92x up from 2.50x at the end of April and 2.15x at the end of 2023.
Looking at the balance sheets of these companies, one might wonder, “How much of their market cap is made up of net cash?” All of these companies need to carry substantial cash balances to offset their negative cash flow, and few have any debt. The graph below shows the market-to-book ratios in orange and the net cash as a percent of the market cap in green. One would expect to see an inverse relationship here. We would expect that a company with 100% of its market cap made up of net cash should trade very near 1x market to book. The graph does show a bit of inverse correlation, but not as much as we might expect. Still, it is interesting to see that a sizeable portion of the market cap is made up of net cash.
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NATIONAL AND INTERNATIONAL NEWS |
ORGANIGRAM SIGNS THREE YEAR SUPPLY AGREEMENT WITH AVIDA MEDICAL IN UK
Over a three-year period, Organigram expects to supply 1,700 kilograms of high-quality medical cannabis flower to Avida Medical, with 500 kilograms expected to be delivered in the first year of the agreement.
Avida Medical to become Organigram’s second international medical cannabis customer in the UK.
Organigram to grant Avida Medical strain exclusivity in the UK for three strains.
To date, Organigram has established international supply agreements with a total of seven medical cannabis customers in Australia, Germany, Israel, and the UK, aligned to its strategy to extend its reach beyond Canada into global markets.
Toronto, Ontario, May 28, 2024 – Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), (the “Company” or “Organigram”), a leading licensed producer of cannabis, is pleased to announce its second international medical cannabis customer in the UK, Avida Medical, a full-service medical cannabis and specials medicines manufacturing business.
Subject to the terms of the Agreement, the Company expects to supply 1,700 kilograms of high-quality, indoor-grown dried cannabis flower to Avida Medical in the UK over a period of three years.
READ MORE |
AFC GAMMA PROVIDES SENIOR SECURED CREDIT FACILITY TO WOMEN-OWNED GRÖN EDIBLES
Funding will allow Grön to expand its footprint into new markets
WEST PALM BEACH, Fla., May 23, 2024 — AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it has provided a senior secured credit facility to Grön Holdings Inc. (“Grön” or “Grön Edibles”), one of North America’s largest producers of adult-use cannabis-infused edibles. Grön intends to use the proceeds from the new credit facility to expand its business into new states.
“We are excited to support Grön in catalyzing the next phase of the company’s growth as they expand further into the East Coast and solidify their position as a leading edibles provider,” said Daniel Neville, AFC Gamma’s Chief Executive Officer. “This transaction demonstrates our ability to provide flexible and tailored financing solutions that meet the unique requirements of our borrowers at all stages of their growth, while also broadening and diversifying AFC Gamma’s portfolio.”
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SOLEI’S NEW CANNABIS-INFUSED TOPICAL SOLUTION IS MADE FOR ACTIVE LIFESTYLE ENTHUSIASTS
TORONTO — May 23, 2024 – Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), a leading global lifestyle and consumer packaged goods company today announces the latest addition to its Solei cannabis wellness brand, the Warming Deep Tissue Stick. This new innovative cannabis-infused roll-on is designed to elevate your wellness rituals and provide targeted warmth.
With a balanced blend of 300mg THC and 300mg CBD, the Warming Deep Tissue Stick is Solei’s first roll-on topical that combines nourishing shea butter, coconut, and jojoba oil to glide on smoothly and leave a non-greasy residue. The stick is designed to offer a cooling sensation while it warms, to help you take on whatever comes next. Infused with a refreshing minty scent, this roll-on offers a dual-action experience.
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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
638 DISPENSING LOCATIONS |
LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from
MAY 24, 2024 Report BY THE NUMBERS Qualified Patients: (Active ID Card): 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: 850 Qualified Ordering Physicians: 2,339 New Doctors Last Week: -5 Reporting Period: MAY 17 TO MAY 23 2024 Amount of Medical Marijuana Dispensed - (mgs THC) 341,451,853
Amount of Low-THC Cannabis Dispensed - (mgs CBD) 3,538,056
Amount of Marijuana in a From for Smoking (oz) 111,672.613 Approved Dispensing Locations: 638 ADD LAST WEEK : 2
CURALEAF - NORTH MIAMI BEACH GOLDFLOWER CANNABIS - ST. PETERSBERG |
UPCOMING MEETING AND CONFERENCES |
MEMBERS OF THE FLORIDA MEDICAL CANNABIS PHYSICIANS GROUP EMAIL CHARLES FELIX AT charles@cannabisnewsflorida.com FOR THE MEMBER DISCOUNT CODE FOR THIS YEARS FLORIDA MEDICAL CANNABIS CONFERENCE & EXHIBITION |
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