Staff
It’s time for your Daily Hit of cannabis financial news for December 11, 2018.
On The Site
Farm Bill
The 2018 Farm Bill has passed in the U.S. Senate with a vote of 87-13. The legislation goes to the House next for a vote and if it passes there, it will head to the President’s desk to be signed. Hemp will be switched for review to the Department of Agriculture and away from the Justice Department.
Language that would ban people with felony convictions from working in the hemp industry was amended so that the ban would end 10 years after this legislation is passed.
Dispensary Updates
MPX Bioceutical
MPX Bioceutical Corporation (CSE: MPX; OTC: MPXEF) announced that GreenMart NLV, LLC, a subsidiary of MPX, has been awarded four conditional retail marijuana store licenses in the state of Nevada.
MedMen Enterprises
MedMen (MMEN.CN) (MMNFF) announced that it has closed its previously announced acquisition of a dispensary license in Emeryville, California from B12, LLC. MedMen paid a combination of cash at closing and shares of MedMen in an undisclosed amount. The transaction closed within 90 days of signing.
Liberty Health Sciences Inc.
Liberty Health (CSE: LHS) (OTCQX: LHSIF) opened its first South Florida dispensary in the heart of Miami. The new dispensary provides customers in Miami-Dade County, the most populous county in Florida, access to premium quality medical marijuana products and educational services.
In Other News
Alternate Health Corp. (CSE: AHG) (OTCQB: AHGIF) closed a non-brokered private placement of 12,739,000 common shares at a price of CAD$0.40 per common share for aggregate gross proceeds of CAD$5,095,000. The common shares are subject to a four month and one day hold period in accordance with Canadian securities laws.
Essence, Las Vegas’ largest marijuana dispensary, and cultivation operation were awarded a record number of new dispensary licenses in the state of Nevada. Essence is about to be acquired by Green Thumb Industries (GTII.CN). Essence applied for and was awarded eight licenses total, giving the Company retail expansion across the State, including Sparks, Carson City, Reno, Clark County (qty. 2), City of Las Vegas, North Las Vegas, and the City of Henderson.
GrowGeneration Corp. (OTCQX: GRWG) announced it signed a lease to open a new 10,000 square foot cultivation equipment warehouse operation and product showroom in Maine, to service the legal cannabis cultivators in the State of Maine. The Company plans to be open for business in early 2019. The Maine store will be the company’s 20th location across 8 states.
