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, MAY 8, 2024 AT 6:30PM THE
"FLORIDA MEDICAL CANNABIS PHYSICIAN GROUP" (FMCPG)
FOR ALL
"MEDICAL MARIJUANA DOCTORS" AND "MMTC DIRECTORS ONLY " TOPICS TO BE DISCUSSED SPECIAL GUEST TO DISCUSS THE STATE OF CANNABIS - SCHEDULE I TO III BRADY COBB FOUNDER/CEO SUNBURN CANNABIS
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 |
VERANO STRENGTHENS CONNECTICUT RETAIL FOOTPRINT WITH THE OPENING OF ZEN LEAF NAUGATUCK, THE COMPANY’S THIRD SOCIAL EQUITY JOINT VENTURE LOCATION AND FIFTH DISPENSARY STATEWIDE
Situated in Naugatuck, a borough south of Connecticut’s capital with more than 31,000 residents1, Zen Leaf Naugatuck is the third of six planned social equity joint venture dispensaries the Company expects to open across the state, with 20 new team members hired locally
Zen Leaf Naugatuck serves both medical patients and adult use customers, joining Verano’s existing vertical Connecticut operations that include Zen Leaf dispensaries in Meriden, Newington, Norwich and Waterbury; and CTPharma, a state-of-the-art 217,000 square foot cultivation and processing facility in Rocky Hill
The dispensary is located at 585 South Main Street, a thoroughfare with an average daily traffic count of 14,900 vehicles2
Verano’s active operations span 13 states, comprised of 139 dispensaries and 14 cultivation and processing facilities with more than 1 million square feet of cultivation capacity
CHICAGO, May 02, 2024 — Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the grand opening of Zen Leaf Naugatuck, the Company’s third social equity joint venture location in Connecticut and fifth cannabis dispensary statewide. Zen Leaf Naugatuck will host a grand opening on Friday, May 3rd, featuring a ceremonial ribbon cutting with the Waterbury Area Chamber of Commerce at 11 a.m. local time. Located at 585 South Main Street, Zen Leaf Naugatuck will be open Monday through Saturday from 9 a.m. to 9 p.m. and Sunday from 10 a.m. to 6 p.m.
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Interview with Stephen M Reilly Co-Owner and Head of Government Relations for Insa Cannabis regarding the rescheduling of Cannabis from I to III CLICK HERE |
PLANET 13 CLOSES SALE OF PLANET 13 FLORIDA
LAS VEGAS, May 06, 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 closing on May 6, 2024 of its previously announced sale of Planet 13 Florida, Inc. (“ Planet 13 Florida ”), following the previously announced approval from the Florida Office of Medical Marijuana Use on April 26, 2024.
The Company sold 100% of the equity interests of Planet 13 Florida in exchange for US$9,000,000. The sale of Planet 13 Florida is a condition to the closing of the Company’s pending acquisition of VidaCann, LLC (“ VidaCann ”). The Company expects to close the VidaCann acquisition as soon as practicable in May 2024.
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WHAT VIRIDIAN HAS BEEN PREDICTING ABOUT THE IMPACT OF RESCHEDULING
January 2024: The Impact on Cash Flows from 280E is Massive. In January we affirmed our belief that rescheduling would happen and estimated that the top 10 companies alone would save over $700M annually from eliminating 280e and that the industry at large would save more than twice that amount.
January 2024: Reinvigoration of the Cannabis Capital Markets. For the last few months, we have been talking about the cannabis capital markets being frozen due to the uncertainty surrounding rescheduling. We reasoned that no CFO wanted to be “that guy” who raised equity at the bottom. We are now about to see the reversal of that process. Several companies have existing shelf registrations, and we expect companies to “average up” by doing small equity issues as prices continue to recover.
February 2024: M&A Activity Will Accelerate. M&A has been slow as companies conserve cash and focus on operating for profitability rather than growth. However, the valuation gap between large and small companies rebounded to 3.55 on the DEA news, the second highest it has been since May 2021 (the highest was 3.71 in 2/24). This gap will grow as the markets rally further, and it indicates a growing ability for the most prominent companies to complete accretive acquisitions. We predicted a resurgence of M&A at the beginning of the year, and finally, the catalyst has occurred.
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NATIONAL AND INTERNATIONAL NEWS |
LONG ROAD AHEAD FOR US CANNABIS RESCHEDULING
Rescheduling cannabis could take up to seven years to go in effect, if the rule is challenged. By: Adam Jackson, Green Market Report
May 7, 2027 – As the U.S. Drug Enforcement Administration takes its first step in reclassifying cannabis’ drug status, the stage is being set for traffic on the road ahead.
The proposed rule, which aims to reevaluate cannabis’ current classification as a Schedule I substance (indicating high potential for abuse and no accepted medical use), is now under review by the Office of Management and Budget.
And while federal law explicitly outlines a timeline for this process, clarity on the distance between now and a post-rescheduling reality is a bit foggy when considering other factors.
“There is important work ahead in the process to reclassify marijuana, which is unique given marijuana is a botanical, non-FDA approved substance that has been long misclassified as a Schedule I drug despite voluminous evidence of its medical use and relative safety,” Shawn Hauser, a partner at Denver-based Vicente LLP, told Green Market Report.
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DR. RICHARD GOLDBERG JOINS REAL BRANDS’ BOARD OF DIRECTORS, ENTERS CONSULTING AGREEMENT
North Providence, RI, May 07, 2024 — Real Brands Inc. (OTCPK: RLBD) announced today that it has added Richard J. Goldberg, MD, MS, to its Board of Directors, and The Company has entered into a consulting agreement with Dr. Goldberg for guidance and expertise in Real Brand’s new Psychedelics research division that was launched in 2023.
Dr. Richard J. Goldberg has joined Real Brands Inc.’s Board of Directors and will consult for them on research and development of psychedelic drug therapies.
“Dr. Goldberg is a renowned, award-winning medical expert in Psychiatry who we are engaging to play a key role in developing strategy and advancing our research and development of psychedelic therapies for the treatment of an array of psychiatric conditions,” stated Thom Kidrin, President & CEO of Real Brands Inc. “The Department of Psychiatry that Dr. Goldberg directed attracted millions in grants to fund psychiatric research that has led to significant advances in the understanding and treatment of psychiatric conditions. This is a huge first step In establishing a relationship with a certified medical research facility that is a pre-requisite to receiving a psychedelic drug research license from the DEA.”
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CANOPY GROWTH CONFIRMS CANOPY USA’S EXERCISE OF OPTIONS TO ACQUIRE WANA AND JETTY
SMITHS FALLS, ONTARIO May 7, 2024– Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) today confirmed that Canopy USA, LLC (“Canopy USA”) has exercised the options to acquire Wana and Jetty (each as defined below).
The exercise of these options is a critical next step to enable Canopy USA to fulfill its intent to establish a leading, brand-focused powerhouse. It is also expected that once completed, these acquisitions will enable Canopy USA to realize compelling financial benefits, including the ability to drive revenue growth, and realize cost synergies across the Canopy USA ecosystem.
“With these acquisitions now triggered, Canopy USA has taken a crucial step forward in bringing together these high potential businesses and will soon be able to demonstrate the full potential of this ecosystem across the U.S. cannabis market,” said David Klein, Chief Executive Officer of Canopy Growth. “In addition to the positive signals we’re seeing on near term regulatory reform in the U.S., there’s significant potential in putting together leading brands like Wana and Jetty, and we’re excited to see how these brands can collaborate to become even stronger”.
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CLEVER LEAVES ANNOUNCES VOLUNTARY DELISTING AND SEC DEREGISTRATION
TOCANCIPÁ, Colombia, April 26, 2024 (GLOBE NEWSWIRE) — Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a global medicinal cannabis company, today announced that its Board of Directors (the “Board”) determined to voluntarily delist its common shares, without par value (the “common shares”) and warrants, each exercisable for 1/30th common share at an exercise price of $11.50 (the “Warrants” and together with the common shares, the “Securities”) from The Nasdaq Stock Market LLC (“Nasdaq”) and deregister its Securities in order to terminate and suspend its reporting obligations under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”).
The Company today notified Nasdaq of its intention to voluntarily delist its Securities from Nasdaq. The Company intends to file a Form 25 with the Securities and Exchange Commission (“SEC”) to effect the delisting and deregistration of its Securities on or about May 6, 2024 to effect the delisting from Nasdaq and the deregistration of the Securities under Section 12(b) of the Exchange Act. As a result, the Company expects the last day of trading of its Securities on Nasdaq will be on or about May 16, 2024.
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CHICAGO ATLANTIC REAL ESTATE FINANCE ANNOUNCES FIRST QUARTER 2024 FINANCIAL RESULTS
CHICAGO, May 07, 2024 — Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) (“Chicago Atlantic” or the “Company”), a commercial mortgage real estate investment trust, today announced its results for the first quarter ended March 31, 2024.
John Mazarakis, Executive Chairman of Chicago Atlantic, noted, “We are thrilled with progress toward regulatory reform resulting from the recent news of the DEA’s commitment to the rescheduling of cannabis. Once enacted, the policy change is likely to bring significant benefits to the U.S. cannabis industry, including the elimination of punitive federal tax burdens, increased access to capital, and increased employment and investment opportunity to the expected benefit of our shareholders. While there is still uncertainty as to exactly how and when the rescheduling will conclusively take place, this report signals encouraging progress for the industry as a whole.”
Peter Sack, Co-Chief Executive Officer, added, “We grew the portfolio this quarter funding one new borrower and drove improvement in book value per share with accretive sourcing of capital through our ATM program. The portfolio demonstrated remarkable stability with the weighted average yield to maturity remaining above 19%, while we continue to be selective in adding new operators to the portfolio. The originations pipeline is robust as operators look to take advantage of improving sentiment in the industry and pursuing growth in states such as Maryland, Missouri, and Ohio.”
Portfolio Performance
•As of March 31, 2024, total loan commitments of approximately $401.3 million (all of which are funded) across 28 portfolio investments.
•Weighted average yield to maturity was approximately 19.4% as of March 31, 2024 and December 31, 2023.
•Real estate collateral coverage was 1.3x compared with 1.5x as of December 31, 2023.
•Loan to enterprise value (calculated as outstanding principal balance divided by total value of collateral on a weighted average basis) was approximately 40.5% as of March 31, 2024 compared with approximately 44.1% as of December 31, 2023.
•The percentage of loans which bear a variable interest rate was 76.6% as of March 31, 2024 compared with 80.5% as of December 31, 2023.
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CRONOS ENTERS UNITED KINGDOM CANNABIS MARKET
TORONTO, May 07, 2024 — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”) announced today that it is expanding its medical brand, PEACE NATURALS, into the United Kingdom market with its first shipment of cannabis flower to GROW® Pharma, a leading distributor of prescribed medicinal cannabis products in the UK.
Cronos will provide high-quality premium cannabis products, which have become synonymous globally with the PEACE NATURALS® brand, to patients in the UK through this partnership. The Company’s investments in R&D, tissue culture, and its cannabis genetics breeding program have enabled it to expand to Germany and Australia in the past year.
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BLÜM HOLDINGS INC. ACKNOWLEDGES IMPACT TO CANNABIS INDUSTRY FROM DEA’S PLAN TO RESCHEDULE MARIJUANA
SANTA ANA, Calif., May 06, 2024 — Blum Holdings, Inc. (OTCQB: BLMH) (the “Company,” “Blüm,” “we” or “us”), a cannabis company which through its subsidiaries has operations throughout California, remains optimistic about the Drug Enforcement Administration’s (“DEA”) decision to reschedule marijuana as a lower-risk substance. This groundbreaking move is anticipated to reform the cannabis industry by alleviating longstanding financial and operational burdens.
“Cannabis has a long and storied history in the collective social, economic, moral, and political conscious of the United States. We at Blüm understand the flawed history of cannabis’s classification as a Schedule I controlled substance by the US Drug Enforcement Agency and the legal, financial, and political consequences of such a classification,” said Robert Baca, Chief Legal Officer of Blüm.
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HYTN WELCOMES U.S. RECOMMENDATION TO RECLASSIFY CANNABIS, FORESEES GROWTH
VANCOUVER, British Columbia, May 01, 2024 — HYTN Innovations Inc. (CSE: HYTN “HYTN” or “The Company”), a leader in the development, formulation, and manufacturing of products containing psychoactive and psychotropic compounds including cannabis, applauds the recent formal recommendation by the U.S. Justice Department, endorsed by the Drug Enforcement Agency (DEA), to reclassify cannabis from a Schedule I to a Schedule III controlled substance.
This historic shift, pending review by the White House Office of Management and Budget (OMB), recognizes the medical utility of cannabis and its lower potential for abuse compared to substances in higher schedules. HYTN views this as a progressive move which harmonizes federal regulations with the evolving public and medical stance on cannabis. HYTN notes that such a change aligns with other global markets which have legalized cannabis for medical consumption and regulate its manufacture and sale under Good Manufacturing Practice (GMP) guidelines.
The reclassification to Schedule III is anticipated to facilitate broader research initiatives and reduce operational complexities for cannabis businesses in the United States. This change will likely enable more comprehensive studies on the therapeutic benefits of cannabis and significantly ease the regulatory burden, fostering innovation and growth. READ MORE |
SPRINGBIG APPLAUDS DEA’S RECENT RECLASSIFICATION OF MARIJUANA
DEA’S RECLASSIFICATION OF MARIJUANA BOOSTS BUSINESS OPPORTUNITIES AND CONSUMER ACCESS, SIGNALING A NEW ERA FOR THE CANNABIS INDUSTRY
BOCA RATON, Fla., May 01, 2024 — Springbig, a leading provider of marketing solutions for the cannabis industry, expressed their strong support for the Drug Enforcement Administration’s (DEA) decision to reclassify marijuana as a lower-risk drug, announced yesterday. Reflecting the broad societal trends in the last decade-plus, this move from the DEA proves that the federal government is finally recognizing cannabis for its true value as an industry that is positively impacting businesses and consumers alike.
Jeff Harris, CEO of Springbig, commented, “The DEA’s reclassification of marijuana is a transformative development for the cannabis industry. It not only reflects the evolving perception of cannabis in our society but also opens up tremendous business opportunities and greater access for consumers,” said Jeff Harris, CEO of Springbig. “This change will bring the cannabis market into the mainstream, promoting legal, regulated, and licensed businesses that, up until now were held back by undue regulatory burdens, realize their growth potential.”
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10 BARREL BREWING INTRODUCES PUB CERVEZA: A NEW TWIST ON ‘CHEAP FUN.’ SERIES Ahead Of Cinco De Mayo, 10 Barrel’s Award-Winning Brew Team Introduces Pub Cerveza, A Traditional Mexican Style Lager
BEND, Ore., May 03, 2024 — 10 Barrel Brewing Co. (“10 Barrel Brewing Co.” or “10 Barrel”), a Pacific Northwestern pioneer in craft brewing, a subsidiary of Tilray Brands, Inc. (NASDAQ: TLRY and TSX: TLRY), unveils its latest creation: Pub Cerveza. Building upon the legacy of the ‘Cheap Fun.’ family, which includes Pub Beer and Pub Ice, Pub Cerveza brings south-of-the-border spirit to the party in a smooth, crushable Mexican Style Lager.
Launching today, right on time for Cinco De Mayo festivities, Pub Cerveza delivers a new portal to ‘Cheap Fun.’ at any Darty (that’s a Day pARTY). Whether you’re ripping down the adult slip-n-slide, or hucking water balloons off a houseboat this summer, Pub Cerveza is a refreshing, easy-drinking accomplice for all-day good times. READ MORE |
BELOW ARE THE LINKS TO THE DIRECTORY OF FLORIDA CANNABIS DOCTORS AND
DISPENSARIES IN THE STATE OF FLORIDA |
QUALIFIED PATIENTS OVER 880,000 AND 633 DISPENSING LOCATIONS
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LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from
MAY 3, 2024 Report
BY THE NUMBERS Qualified Patients: (Active ID Card):
MAY 03 2024- 880,596 APR 26 2024- 880,240 APR 19 2024- 879,763
APR 12 2024- 878,724 APR 05 2024- 877,941
Pattients Last Week: 356
Qualified Ordering Physicians: 2,337
New Doctors Last Week: - 47 Reporting Period: APR 26 TO MAY 2 2024 Amount of Medical Marijuana Dispensed - (mgs THC) 336,731,057
Amount of Low-THC Cannabis Dispensed - (mgs CBD) 3,547,929
Amount of Marijuana in a From for Smoking (oz) 108,628.326 Approved Dispensing Locations: 633 ADD LAST WEEK : 0 |
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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