2019 Cannabis Business Award's Publication of the Year |
WEDNESDAY, AUGUST 9, 2023 |
REGISTER FOR TONIGHT'S MEETING WEDNESDAY, AUGUST 9, 2023 AT 6:30PM THE "FLORIDA MEDICAL CANNABIS PHYSICIAN GROUP" (FMCPG)
FOR ALL "MEDICAL MARIJUANA DOCTORS" AND "MMTC DIRECTORS ONLY " TOPICS TO BE DISCUSSED UPDATE FROM FMA ANNUAL MEETING CANNABIS AND DELTA 8 POLICIES PROTECTING YOUR MEDICAL CANNABIS PRACTICE
Updates on RFE Requests Becoming a Chapter of the Society of Cannabis Clinicians
QUESTIONS FROM PHYSICIANS HOW TO BEST ANSWER YOUR PATIENT QUESTIONS |
NEWS FROM THE PAST WEEK
RELATING TO THE BUSINESS OF MMTC'S IN FLORIDA Click on Company Logo to be Transferred to Web Site |
COLUMBIA CARE CONTINUES VIRGINIA EXPANSION WITH OPENING OF CANNABIST SUFFOLK
Cannabist Suffolk is Company’s 36th Cannabist Location and 86th Active Dispensary Nationwide
August 2, 2023– Columbia Care Inc. (NEO: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”), one of the largest and most experienced cultivators, manufacturers and retailers of cannabis products in the U.S., today announced it has opened the doors of its tenth of twelve planned dispensaries in Virginia. Cannabist Suffolk, located at 1238 Holland Road, Suite 111, is now serving registered medical patients. This is the sixth Columbia Care retail location to open in Virginia within the past year. The dispensary will celebrate its grand opening on Thursday, August 10.
“We’re thrilled to open Cannabist Suffolk and bring our award-winning Cannabist retail experience to those in the Suffolk region. As our presence grows in Virginia, we’re able to connect with a larger community through our commitment to advocacy and education. We deeply appreciate the support we’ve received from the Suffolk community and remain committed to promoting the understanding and acceptance of cannabis as well as enhancing our customers’ retail experience,” said Jesse Channon, Chief Commercial Officer, Columbia Care.
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AYR WELLNESS ADDS MICHAEL WARREN TO BOARD OF DIRECTORS
Augusr 3, 2023 — 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 that it has welcomed Michael Warren to the Company’s Board of Directors.
“We are proud to welcome Michael to AYR’s Board of Directors,” said Jonathan Sandelman, Executive Chairman of AYR. “Michael’s successful career in financial services and his pioneering work in workplace Diversity Equity & Inclusion initiatives will bring immense value and perspective to our organization.”
Mr. Warren’s 30-year career in financial services is comprised of experience in asset management, capital markets and banking, and includes 20 years of direct management responsibility at Wells Fargo, Deutsche Bank and Goldman Sachs. He previously served on the Board of Directors of Metrodigi Inc., a privately held digital publisher.
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NEW NAME
HOUSE OF PLATINUM CANNABIS |
CRESCO LABS EXPANDS SUNNYSIDE IN EAST CENTRAL FLORIDA WITH NEW STORE IN PALM BAY
August 7, 2023 – Cresco Labs (CSE:CL) (OTCQX:CRLBF) (FSE: 6CQ) (“Cresco” or “the Company”), a vertically integrated, multi-state operator and the cannabis industry’s No. 1 producer of branded products, today announced the opening of its 32nd Florida dispensary in Palm Bay. Located at 1260 Malabar Rd., Sunnyside Palm Bay resides along a high-traffic, primary retail corridor directly off the intersection of FL-514 and I-95 (East Florida’s Major North-South Interstate) where people shop, eat and commute daily. The new store brings the Company’s nationwide network to 69 dispensaries.
“We continue to expand the Sunnyside brand and increase access to top-quality cannabis products in the most meaningful Florida markets,” said Charlie Bachtell, CEO and Co-founder of Cresco Labs. “Palm Bay is the most populous city in Brevard County with over 129,000 residents, and the city’s location just southeast of Orlando will enable Sunnyside Palm Bay, along with our many other stores in the East Central Florida region, to serve tens of thousands of patients with their cannabis needs.”
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VERANO ANNOUNCES SECOND QUARTER 2023 FINANCIAL RESULTS
Company Delivers Record Quarterly Revenue of $234 Million and Tightens 2023 Free Cash Flow 1 Guidance to $65-75 Million
CHICAGO, August 8, 2023 — Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced its financial results for the second quarter ended June 30, 2023, which were prepared in accordance with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”).
Management Commentary
“Our strong second quarter results demonstrate the effectiveness of the strategy we’ve executed since inception, and reflect the persistent rigor and discipline we harness in running our business every day,” said George Archos, Verano Founder, Chairman and Chief Executive Officer. “Our ability to generate record quarterly revenue and positive free cash flow while strengthening our balance sheet proves that despite ongoing fluctuations in the industry, we remain well-positioned to pursue potential growth opportunities.”
Archos added: “We successfully grew our retail footprint, launched our new On the Rocks solventless extracts and line extensions across our most popular brands in core markets, increased our retail and wholesale revenue in key states, strengthened our executive leadership team with key internal promotions, and leveraged our deep experience transitioning markets by welcoming adult use customers at our four Maryland Zen Leaf dispensaries on July 1. Since inception, we’ve built a sustainable business that has never depended on federal reform, and I remain confident in our ability to continue thriving in the current environment, bolstered by the strength of our brand portfolio, our expanding geographic footprint, and our increased free cash flow guidance for the remainder of 2023.”
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NATIONAL AND INTERNATIONAL NEWS |
CRONOS GROUP REPORTS 2023 SECOND QUARTER RESULTS
Industry-leading balance sheet with $841 million in cash and short-term investments
Increased 2023 operating expense savings target to $20 to $25 million
Announces additional initiatives to streamline supply chain and improve cash flow
Spinach® was top-10 in retail sales in every category it participates in – flower, edible, vape and pre-roll, in Q2 2023
TORONTO, Aug. 08, 2023 — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”), today announces its 2023 second quarter business results.
“I am proud of our team’s execution in the second quarter despite facing dynamic market conditions across the countries we operate in,” said Mike Gorenstein, Chairman, President and CEO, Cronos. “Our teams in Canada continued to push forward in the edibles category, maintaining our number one market share position while bringing innovation to our pre-roll and vape portfolios. Turning to Israel, despite the slowdown in patient growth and political unrest, our team stayed focused on successfully maintaining one of the top positions in the market, driven by our high-quality flower offerings and distribution in nearly all pharmacies. With the new regulations intended to create more accessibility for patients set to go into effect in Israel in December 2023, we continue to be excited about the runway for growth in that market.”
“While we execute on product innovation and revenue growth, we are simultaneously laser-focused on reducing costs across our organization,” continued Mr. Gorenstein. “Our cost reduction efforts and improved balance sheet management continue to yield an improvement in cash flow. Having the best balance sheet in the industry allows us to be patient and selective with our growth initiatives, and you will continue to see a methodical approach to growth. We will continue to push forward on new market growth opportunities and expand our portfolio of borderless products to be ready for new markets as they open.”
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MARIMED REPORTS SECOND QUARTER 2023 EARNINGS
NORWOOD, Mass., Aug. 02, 2023 — MariMed Inc. (“MariMed” or the “Company”) (CSE: MRMD) (OTCQX: MRMD), a leading multi-state cannabis operator focused on improving lives every day, today announced its financial results for the second quarter ended June 30, 2023.
“I am pleased to report another solid quarter of accelerating revenue growth on both a year-over-year and a sequential basis as we continue to outperform the industry,” said Jon Levine, Chief Executive Officer. “We reported our 14th consecutive quarter of positive adjusted EBITDA. Our wholesale business continued to set monthly and quarterly sales records, which we believe will continue to accelerate with the commencement of adult-use sales in Maryland, which began on July 1st. Our balance sheet remains one of the strongest in the industry, and we were particularly pleased with the exponential growth of our Maryland operations that executed flawlessly to support the increased demand of adult-use sales.”
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DELTA 9 EXPANDS DISTRIBUTION BUSINESS IN MANITOBA
WINNIPEG, Manitoba, Aug. 02, 2023 — DELTA 9 CANNABIS INC. (TSX: DN) (OTC: DLTNF) (“Delta 9” or the “Company”), is pleased to announce that, through its wholly owned subsidiary Delta 9 Logistics Inc., it intends to expand its distribution and cross-docking business in Manitoba as a result of Manitoba Liquor & Lotteries Corporation (“MBLL”) changes to wholesale distribution regulations.
Effective July 31, 2023, MBLL implemented a set of new regulatory enhancements intended to improve lead times for the delivery of cannabis shipments from suppliers and distributors to Manitoba based retailers.
The enhancements will allow the Company to bring additional cannabis inventory from third-party suppliers into the province, closer to the operating retail network, and significantly improve the lead time and fulfilment cycles experienced by retailers. This inventory no longer needs to be subject to a purchase order to enter the province. MBLL also announced it will remove the previous 8-day holding period for retailer orders, allowing purchase orders to be shipped immediately.
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JAMAICA BASED KAYA GROUP FORGES PARTNERSHIP WITH SILO WELLNESS FOR PSYCHEDELIC WELLNESS EXPERIENCES AND RETREATS; ANNOUNCES SHARE EXCHANGE AGREEMENT
SHARE EXCHANGE REPRESENTS A MILESTONE IN THE MULTIBILLION-DOLLAR PSYCHEDELIC WELLNESS INDUSTRY WHILE PROVIDING OPPORTUNITIES FOR EXPANSION AND COLLABORATION BETWEEN THE TWO COMPANIES
KINGSTON, Jamaica and LOS ANGELES, Aug. 03, 2023 — Kaya Group (“Kaya” or “the Company”) (OTC: NUGL), the first medicinal Ganja herb house in the Caribbean and holistic, wellness-focused ecosystem, announced today a strategic partnership with Silo Wellness Inc. (CSE: SILO) (OTCQB: SILFF) (FSE: 3K7A) (“Silo”), a pioneer in the psychedelic and wellness space, to offer a comprehensive range of incomparable psychedelic wellness experiences and retreats in Jamaica. The partnership combines Kaya’s three Kaya Herb House retail locations and Gap Café wellness center with Silo’s expertise in managing psilocybin wellness retreats in Jamaica’s legal psilocybin market.
Key Highlights of the Transaction
Under the terms of the agreement, Silo Wellness acquired 25,081,369 shares of NUGL in exchange for the issuance of 15,293,640 shares of Class A common stock in Silo in this arms-length transaction. In accordance with the agreement, both Silo Wellness and NUGL are bound by conditions that prohibit the transfer or sale of purchased shares for a minimum period of 12 months, unless the shares have been properly registered under the Securities Act or are exempt from registration. Pursuant to CSE Policy 6.2(5), the shares will be issued after five business days (see the Form 9 filed on the CSE website) with price protection at the 20-day VWAP of CAD$0.012. There is no finder’s fee and shareholder approval is not required due to the size of the transaction.
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PANACEA LIFE SCIENCES HOLDINGS, INC. CONTINUES PURSUIT OF HIGH GROWTH HEALTH AND WELLNESS PRODUCTS WITH ACQUISITION OF SIERRA SAGE, LLC AND HALUCENEX FROM MELODIAL GLOBAL HEALTH (FORMERLY CRESO PHARMA LIMITED)
Golden, Colorado, August 2, 2023 — Panacea Life Sciences Holdings, Inc. (OTCQB:PLSH) (“Panacea” or the “Company”), today announced it has entered into a Letter of Intent with Melodial Global Health (formerly Creso Pharma) to acquire Sierra Sage Herbs (“Sierra”), maker of the best-selling Geen Goo, Southern Butter and Good Goo natural products and Halucenex, a company researching novel psychedelic compounds. The deal would extend Panacea’s footprint into natural first aid and body care products, and establishes a strong tie with Melodial through a significant stock ownership stake.
Sierra Sage, which counts 90,000 points of distribution across the US including Whole Foods, Walmart, Amazon, Target.com, CVS, Walgreens, Rite Aid, Kroger, and Food Lion, among others, will continue to operate under its existing leadership while gaining access to Panacea’s 51,000 square foot manufacturing, production and distribution facility in Golden, Colorado.
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VIRIDIAN CAPITAL HIRES ANDREW LOCK AS HEAD OF CORPORATE ADVISORY/RESTRUCTURING PRACTICE
August 1, 2023 — Viridian Capital Advisors, a leading financial and strategic advisory firm serving operators, investors, lenders and acquirers in the legal cannabis, CBD and Psychedelics industries, is pleased to announce that Andrew Lock has joined as Head of the firm’s Corporate Advisory/Restructuring practice. Mr. Lock is an experienced operator with over 30 years of progressive leadership experience in executive management positions in public and private companies.
– Proven leader as member of executive management teams with up to 2,000 employees, and direct responsibility for teams of up to 100.
– Chief Credit Officer of two publicly held banks with revenues of over $500m and net income of over $100mm. During Andy’s tenure as Chief Credit Officer at Monarch Bank, the company achieved strong peer loan growth and top quartile loan quality. He also oversaw all problem asset management, workouts, and disposition activities.
– Chaired or served on numerous internal committees at these banks, including Enterprise Risk, Credit Approval, Credit Policy, Audit, Compliance and Model Risk; served as primary point of contact with State and Federal regulators.
– M&A Consultant to CuraLeaf, where he negotiated the strategic acquisition of a cannabis company and created the strategic and operational plans to optimize existing operations and disparate assets within the context of existing regulatory frameworks.
– In 2021, while with Los Suenos Farms, Andy negotiated multiple acquisitions and capital raises, and eventually the sale of Los Suenos to CuraLeaf.
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LIFEIST’S CANNMART INCREASES ZEST CANNABIS SALES AND PROVIDES CORPORATE UPDATE
Zest Cannabis, CannMart’s recently acquired in-house brand, continues to drive growth in the infused pre-roll and extract vape categories; portfolio of product offerings expands in major sales markets
TORONTO, Aug. 02, 2023 — Lifeist Wellness Inc. (“Lifeist” or the “Company”) (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF), a health-tech company that leverages advancements in science and technology to build breakthrough companies that transform human wellness, today highlighted the continued growth for Zest Cannabis, the cannabis brand acquired by Lifeist on July 21, 2023. While not yet a material portion of CannMart’s cannabis business, its growth is impressive and July marks the highest sales month on record for the brand.
Zest’s month-over-month sales has experienced steady growth from its initial market entry in August 2022. July 2023 marks its largest monthly unit sales to date, growing 39% compared to the previous month in the key sales markets of Alberta and Ontario; driven substantially by the success of Zest Liquid Diamond vapes. CannMart has expanded trade marketing and sales efforts for Zest, with an increase of points of distribution in the main sales provinces of Ontario with 16% growth, 13% in Alberta and 41% in Manitoba. This accounts for a 22% store penetration across Canada, 19% in Ontario, 29% in Alberta and 44% in Manitoba, with continued growth expected in every region over the next quarter.
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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 837,000 AND 585 DISPENSING LOCATIONS
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LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from
AUGUST 4, 2023 Report
BY THE NUMBERS Qualified Patients: (Active ID Card):
AUG 4 2023- 837,122 JULY 28 2023- 835,879 JULY 21 2023- 834,108
JULY 14 2023- 833,463 JULY 07 2023- 831,775 Patients Last Week: 1,243
Qualified Ordering Physicians: 2,607
New Doctors Last Week: 11 Reporting Period: JULY 28 TO AUG 3 2023 Amount of Medical Marijuana Dispensed - (mgs THC) 333,678,409
Amount of Low-THC Cannabis Dispensed - (mgs CBD) 2,800,370
Amount of Marijuana in a From for Smoking (oz) 107,627.285 Approved Dispensing Locations: 583 ADD LAST WEEK - 2 SUNNYSIDE - PALM BAY MuV - VENICE BEACH |
UPCOMING MEETING AND CONFERENCES |
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