2019 Cannabis Business Award's
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NEXT ZOOM MEETING WILL BE ON
WEDNESDAY, JUNE 21, 2023 AT 6:30PM
LEGISLATIVE UPDATE &
REVIEW OF FMCCE THE
"FLORIDA MEDICAL CANNABIS PHYSICIAN GROUP" (FMCPG) FOR ALL
"MEDICAL MARIJUANA DOCTORS" AND "MMTC DIRECTORS ONLY " TOPICS TO BE DISCUSSED
UPDATE FROM TALLAHASSEE ON TELEHEALTH BILL FOR CANNABIS PATIENTS PASSED BY THE HOUSE AND SENATE, NOW WAITING FOR THE GOVERNOR UPDATE FROM TALLAHASSEE ON THE HEMP BILL PROTECTING YOUR MEDICAL CANNABIS PRACTICE QUESTIONS FROM PHYSICIANS HOW TO BEST ANSWER YOUR PATIENT QUESTIONS |
NEWS FROM THE PAST WEEK RELATING TO THE BUSINESS OF CANNABIS IN FLORIDA
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TRULIEVE ANNOUNCES OVER 965,000 SIGNATURES FOR FLORIDA’S SMART & SAFE CAMPAIGN
June 1, 2023 — Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company in the United States, today announced the Florida Secretary of State has validated over 965,000 signatures for the Smart & Safe Florida campaign’s drive to bring adult use cannabis to Florida. That number represents more than enough to secure ballot placement for the 2024 General Election.
The initiative, if passed, will allow adult Floridians (ages 21+) to enjoy the freedom to use cannabis products for personal consumption.
Trulieve CEO, Kim Rivers said, “Our investment demonstrates our firm belief that Floridians are ready to experience the freedom to use cannabis for personal consumption; a freedom which is currently enjoyed by more than half of America’s adults. With over 965,000 validated signatures from nearly every part of our state, it is clear these voters share that belief. We are thrilled the campaign has made this milestone and look forward to seeing this initiative on the ballot next November.”
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TRULIEVE CONTINUES OPTIMIZATION EFFORTS WITH CLOSURE OF CALIFORNIA RETAIL LOCATION AND PLAN TO WIND DOWN MASSACHUSETTS OPERATIONS
Steps taken as part of ongoing efforts to bolster business resilience
TALLAHASSEE, Fla., June 1, 2023 — Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company in the United States, today announced additional measures to preserve cash and improve financial performance. Since mid-2022, Trulieve has undertaken proactive steps to rationalize cash and margin dilutive assets and streamline operations while reallocating resources toward attractive markets with long-term growth potential. Measures taken to date include the closure of select California retail assets, exit of the Nevada wholesale market and idling of production capacity to match consumer demand across multiple markets.
Consistent with optimization efforts, Trulieve has elected to close the retail location in Grover Beach, California. This closure follows the exit of select California retail assets last year in Palm Springs and Venice. In addition, the Company has decided to wind down its operations in Massachusetts. Dispensaries located in Framingham, Northampton and Worcester will close on June 30, 2023. The Company expects to cease Massachusetts operations by the end of 2023.
“These difficult but necessary measures are part of ongoing efforts to bolster business resilience and our commitment to cash preservation as we continue to focus on our business strategy of going deep in our core markets and jettisoning non-contributive assets,” said Chief Executive Officer, Kim Rivers. “We remain fully confident in our strategic position and the long term prospects for the industry.”
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NEW NAME
HOUSE OF PLATINUM CANNABIS |
RED WHITE & BLOOM REPORTS RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2023 Revenue Exceeds $27 Million In 2023-Q1 – – Platinum Vape (“PV”) Ships One Million Units in March 2023, its first million unit month – -Adjusted EBITDA positive for the Quarter-
TORONTO, May 31, 2023 — Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB” or the “Company”) is pleased to report it has filed its Condensed Interim Consolidated Unaudited Financial Statements (“the Financial Statements”), Management Discussion and Analysis (“MD&A”), and associated certifications for its first quarter ended March 31, 2023 (collectively, “the 2023-Q1 Filings”). The 2023-Q1 Filings may be accessed under the Company’s SEDAR profile at www.sedar.com.
2023-Q1 Financial Highlights Revenues were $27.0 million for 2023-Q1. Gross profit, before fair value adjustments, was $9.4 million for 2023-Q1. Operating expenses were $10.9 million for 2023-Q1. Adjusted EBITDA was positive 100k for 2023-Q1. READ MORE |
CANSORTIUM ANNOUNCES SHARES FOR DEBT SETTLEMENT
June 2, 2023 – Cansortium Inc. (CSE: TIUM.U) (OTCQX: CNTMF) (“Cansortium” or the “Company“), a vertically-integrated cannabis company operating under the Fluent™ brand, announces that the Company has issued an aggregate of 2,031,250 common shares (“Debt Shares“) to certain of its directors in exchange for the cancellation of US$162,500 of director fees owing. The Debt Shares are being issued at a price equal to the closing market price of the common shares of the Company as listed on the Canadian Securities Exchange (“CSE“) on June 1, 2023, being US$0.08, in accordance with the policies of the CSE.
The issuance of the Debt Shares to the directors constitutes a “related party transaction” as this term is defined in Multilateral Instrument 61-101: Protection of Minority Securityholders in Special Transactions (“MI 61-101“). The directors of the Company, acting in good faith, determined that the fair market value of the Debt Shares being issued pursuant to the shares for debt transaction and the consideration being paid is reasonable. The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the Debt Shares nor the debt exceeds 25% of the Company’s market capitalization.
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VERANO ANNOUNCES KEY LEADERSHIP PROMOTIONS TO EXECUTIVE TEAM, HIGHLIGHTING EXECUTION OF STRATEGIC SUCCESSION PLAN
June 06, 2023 — Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced the promotion of key leaders, expanding the Company’s executive leadership team under Founder and Chief Executive Officer, George Archos.
Darren Weiss, currently Chief Operating Officer, Chief Legal Officer and General Counsel of Verano, has been elevated to the role of President. Darren has served as COO with the Company since February 2021 and as General Counsel since 2017. John Tipton will transition to the role of President of the Southern Region, supporting the Company’s continued expansion across Florida and new markets in the Southeastern U.S.
Deputy General Counsel, Laura Kalesnik, has been elevated to the role of Chief Legal Officer and General Counsel, expanding on her current responsibilities overseeing mergers and acquisitions, securities and corporate governance. Laura joined Verano in 2021 and brings over 30 years of legal experience to the Company.
David Spreckman has been promoted to Chief Marketing Officer from his position as Executive Vice President of Marketing. In his enhanced role, David will continue to steer brand development and commercial activity across the organization and its operational footprint.
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MEDICAL MARIJUANA USE REGISTRY (MMUR) UPDATE FOR CAREGIVER APPLICATION PROCESS
If you are currently a qualified patient in the Medical Marijuana Use Registry (MMUR). Please see below for important updates to the caregiver application process.
Section 381.986(6)(b), Florida Statutes, states, a caregiver must “not be a qualified physician and not be employed by or have an economic interest in a medical marijuana treatment center or a marijuana testing laboratory.”
Active caregivers will have up to 30 days past their renewal date to supply the OMMU with the needed close relative documentation or the results of a successful background screening, pursuant to section 381.986(9), Florida Statutes, or their Caregiver ID card will be suspended until the documentation is supplied and approved.
Summary:
Beginning June 12, 2023, in accordance with section 381.986(6)(b)6., Florida Statutes, and the Department of Health’s Emergency Rule 64ER23-2, all NON-CLOSE RELATIVES applying for a caregiver MMUR identification (ID) card must complete a level 2 background screening, pursuant to section 381.986(9), Florida Statutes, through a Livescan Service Provider.
Section 381.986(1)(c), Florida Statutes, defines a “close relative” as “a spouse, parent, sibling, grandparent, child, or grandchild, whether related by whole or half blood, by marriage, or by adoption.”
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NATIONAL AND INTERNATIONAL NEWS |
springbig Announces Closing of $4.0 Million Public Offering
BOCA RATON, Fla., June 01, 2023 — SpringBig Holdings, Inc. (“springbig” or the “Company”) (NASDAQ: SBIG), a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs to the cannabis industry, today announced the closing of its $4.0 million public equity offering.
The equity offering, for which Roth Capital Partners acted as sole placement agent, raised gross cash proceeds, before deducting placement agent’s fees and other offering expenses, of approximately $3.0 million. In addition, approximately $1.0 million of the Company’s existing Senior Secured Convertible Note (the “Note”) was cancelled in exchange for shares in the offering at the offering price.
“I am delighted that our secondary offering was fully subscribed and that we were able to complete the transaction as a straight-forward equity offering without the inclusion of warrants or other financial incentives that could potentially have been a future overhang on our stock price,” said Jeffrey Harris, CEO and Chairman of springbig. “We now have a stronger balance sheet and adequate capital to fund our growth initiatives in the future and to beyond the point of generating positive operating cash flow.”
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SWEETWATER BREWING LAUNCHES NEW REFRESHING LINE OF READY-TO-DRINK MIXED COCKTAILS IN A CAN
ATLANTA, May 30, 2023 — SweetWater Brewing Company (“SweetWater Brewing” or “SweetWater”), the ninth largest craft brewer in the U.S. and a subsidiary of Tilray Brands, Inc. (NASDAQ: TLRY and TSX: TLRY), today announces the launch of SweetWater Spirits, a new collection of bright and refreshing ready-to-drink mixed cocktails in a can featuring two spirits-based cocktails Vodka Soda Citrus and Vodka Soda Punch available in 12-ounce cans at 105 calories each. SweetWater Spirits are tasty libations, featuring premium vodka and real citrus fruit juices.
Vodka Soda Citrus: Immerse yourself in the zesty allure of premium vodka combined with a harmonious blend of orange and lime. This low-calorie, ready-to-drink cocktail offers a burst of brightness and refreshing notes destined to invigorate your senses. Vodka Soda Punch: Embark on a thrilling flavor journey with a tantalizing combination of strawberry and lime. Each sip of this artfully crafted cocktail will transport you to a world of pure refreshment and delightful indulgence.
“The ready-to-drink cocktail category is witnessing rapid growth, and we are thrilled to introduce the new SweetWater Spirits line,” said Ty Gilmore, President, U.S. Beer at Tilray Brands. “We have crafted delicious and refreshing low-calorie cocktails using premium vodka, ensuring a sensory experience that surpasses expectations.”
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LIFEIST WELLNESS TO ACQUIRE FAST-GROWING ‘ZEST’ BRAND
LIFEIST TO ACQUIRE ‘ZEST’ BRAND TO DRIVE GROWTH THROUGH EXPANDED MARKETING AND SALES AS A COMPLIMENTARY PRODUCT LINE TO ITS IN-HOUSE CONCENTRATE BRAND, ROILTY
Transaction Details
The Acquisition, which is an arm’s length transaction, is subject to, among other things, receipt of required TSX Venture Exchange (“TSXV”) approval, and other customary conditions of closing, and is expected to close in the coming weeks. Pursuant to the terms of the Share Purchase Agreement, Lifeist will purchase 100% of the issued and outstanding shares of Zest from 13735346 Canada Inc. and 1000496959 Ontario Ltd. (together, the “Sellers”). The consideration for the Acquisition is comprised of, and is payable upon the following terms: (i) $1,536,707.90 in common shares of the Company (“Common Shares”) on the basis of a deemed price of $0.05 per Common Share (the “Initial Consideration Shares”) and (ii) $1,875,000 in Common Shares on the basis of a deemed price of $0.05 per Common Share (the “Escrowed Shares” and together with the Initial Consideration Shares, the “Consideration Shares”). Pursuant to the terms of the Share Purchase Agreement, the Escrowed Shares shall be deposited into escrow and released over a period of nine months in accordance with certain milestones pursuant to the terms and conditions of the escrow agreement.
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UNRIVALED BRANDS ANNOUNCES BOARD TRANSITIONS
Company looks to reconstitute Board of Directors with focus on future opportunities
SANTA ANA, Calif., June 05, 2023 — Unrivaled Brands, Inc. (OTCQB: UNRV) (“Unrivaled,” “Unrivaled Brands,” or the “Company”), a cannabis company with operations throughout California, announced that two of its directors, Nicholas Kovacevich and Eric Baum, will resign from the Company’s board of directors, effective July 1, 2023. The departures represent an orderly and intentional transition of leadership and serve as a fundamental element of a broader corporate and leadership restructuring of the Company.
Mr. Kovacevich and Mr. Baum formally notified the Company of their resignations on May 18, 2023. The resignations were not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices.
Mr. Baum shared his thoughts on the transition, saying, “During a volatile period dominated by economic headwinds and a faltering cannabis industry, we made the strategic decision to partner with the Adnant team. Together, we outlined strategic milestones to stabilize the Company and prepare it for the future. I am pleased that we have successfully delivered on every contemplated milestone and more. As the Company now looks to focus on moving forward and potential new opportunities, it is a natural time for our tenure to come to completion and to execute on a planned transition to fresh leadership.”
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LEEF BRANDS ANNOUNCES US$7.0M FINANCING THROUGH THE PARTIAL SALE OF ITS CULTIVATION AND REAL ESTATE ASSETS AND EXPANSION PLANS
VANCOUVER, British Columbia, June 01, 2023 — LEEF Brands, Inc. (CSE: LEEF, OTC: LEEEF) (“LEEF” or the “Company”), a leading vertical cannabis operator, is pleased to announce a US$7.0 million financing related to the sale of a 60% interest of its wholly owned cultivation and real estate assets in Santa Barbara, California, as further described below (the “Transaction”). This milestone Transaction comes after three years of diligent efforts during which LEEF secured a 187-acre land use permit in Santa Barbara County. The proceeds of the Transaction will be principally utilized to develop one of the largest biomass cultivation sites in the state, for working capital needs, as well as supporting the expansion of LEEF Labs (“LEEF Labs”), the company’s state-of-the-art manufacturing facility.
Under the terms of the Transaction, Arbor Ranch SB, LLC, (the “Lender”) will provide funding of $7.0 million through an interest free loan agreement with the Company to finance the buildout and operation of the cannabis cultivation business (the “Business”), which shall be wholly managed by the Company. The Company shall pay the Lender a customary lease amount until the loan is repaid in full and the Lender shall receive membership units equal to 60% of the equity value of the real estate holdings. In addition, the Lender shall receive half warrants to purchase up to 56,875,000 common shares of LEEF Brands, Inc. with a strike price of C$0.08.
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JUSHI HOLDINGS INC. RECEIVES REQUISITE HOLDER APPROVAL TO AMEND 12% SECOND LIEN NOTES AND WARRANTS ISSUED IN CONNECTION WITH PREVIOUSLY ANNOUNCED DEBT FINANCING
BOCA RATON, Fla., June 06, 2023 — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSHF), a vertically integrated, multi-state cannabis operator, announced today that the requisite holders have consented to certain amendments (the “Amendments”) to the Company’s 12% Second Lien Notes (the “Notes”) and detached warrants expiring December 6, 2026 (the “Warrants”). The Notes and Warrants were originally issued in connection with the Company’s previously announced debt financing of approximately US$73.5 million aggregate principal amount of Notes which initially closed December 2022.
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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 822,000 AND 571 DISPENSING LOCATIONS
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LATEST OMMU REPORTS FROM OFFICE OF MEDICAL MARIJUANA USE IN THE STATE OF FLORIDA Highlights from JUNE 2, 2023
Report BY THE NUMBERS
Qualified Patients: (Active ID Card): JUN 02 2023- 822,818
MAY 26 2023- 820,823 MAY 19 2023- 818,679 MAY 12 2023- 816,944
MAY 05 2023- 814,965
Patients Last Week: 1,995 Qualified Ordering Physicians: 2,480 New Doctors Last Week: 13 Reporting Period: MAY 26 TO JUNE 1 2023
Amount of Medical Marijuana Dispensed - (mgs THC) 322,581,131 Amount of Low-THC Cannabis Dispensed - (mgs CBD) 3,235,662 Amount of Marijuana in a From for Smoking (oz) 110,038.174 Approved Dispensing Locations: 568 ADD LAST WEEK +3
GREEN DRAGON - NORTH MIAMI MUV - MIAMI
SANCTUARY CANNABIS - BOYNTON BEACH |
UPCOMING MEETING AND CONFERENCES |
THE FLORIDA MEDICAL CANNABIS PHYSICIANS GROUP ANNUAL IN-PERSON MEETING WILL BE HELD AT THE FLORIDA MEDICAL CANNABIS CONFERENCE & EXHIBITION SEE INFORMATION BELOW FOR REGISTRATION |
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