BudDigest

I stumbled upon this recent post by Jason Paltrowitz titled “Lawful but Awful: The Small Cap IPO Cycle.” It contains some interesting findings and I like everything about it for cannabis companies, except the conclusion. The conclusion is that OTCQX and OTCQB markets are a good bet for small companies, because these markets “offer a simplified path with financial, corporate governance, and disclosure requirements tailored to smaller companies.”

Plant-touching U.S. cannabis companies cannot list on the senior U.S. exchanges, meaning the NYSE or Nasdaq. Still, many U.S. cannabis companies that want to raise significant capital choose to “go public.” The well-worn path is either to: 1) list in Canada or overseas, via reverse merger, or 2) head to the abovementioned OTC markets, again via reverse merger, and pursue a Regulation A offering. However, in my experience, the OTCQX and OTCQB are not good places for cannabis companies.

OTC markets are teed up for fraud

Don’t take my word for it: here’s an SEC bulletin updated earlier this year and another in the specific context of cannabis stocks– going back to 2014. Here too is a FINRA warning, a sample DOJ microcap cannabis prosecution, and an FBI case study. As you

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The Hoboken Planning Board approved the amended Story Dispensary proposal that was necessary as part of the terms of their settlement with the condo association that lives in the same building.

By Daniel Ulloa/Hudson County View

Story Dispensary was sued by 51-53 14th Street Condominium Association, Inc. and they reached a confidential settlement in September. They had previously received approval the the city’s cannabis review board, planning board, and city council.

It was deemed a “Whispering Woods” hearing, which allows cities to settle planning and zoning lawsuits without a full hearing.

“The testimony should be just about the settlement agreement,” Chair Frank Magaletta declared.

“There was litigation which commenced during the planning board process,” Story Dispensary attorney Lauren Tardanico noted, to which Magaletta said terms have been agreed upon.

Tardanico explained the conditions of the settlement. The first concession was the hours of operations were reduced. The second was a limitation on armed security guards and the third was an entrance change.

“We have agreed to change the entrance from 14th Street to Hudson Street,” she noted, further stating they would do so to assuage concerns about long lines.

Magaletta asked if they had notified the Hoboken Police Department.

“We’re

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NEW YORK, Dec. 6, 2023 /PRNewswire/ – Ascend Wellness Holdings, Inc. (“AWH” or the “Company”) (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator focused on bettering lives through cannabis, announced the opening of an Ascend Dispensary Outlet, located at 6019 Milan Road, Sandusky, Ohio. The dispensary will be Ascend’s third in the state of Ohio and 33rd across its seven-state footprint.1

In 2022, AWH entered into a definitive agreement providing AWH the option to acquire 100% of the equity of Ohio Patient Access LLC (“OPA”).2 In addition to the Sandusky provisional license, OPA owns and will operate two other provisionally licensed dispensaries that are in the process of being built in Cincinnati and Piqua. AWH will benefit from the economics under a support service agreement (“SSA”) with OPA.3

The Sandusky dispensary will be open Monday to Thursday and Saturday from 9 am to 7pm; Friday from 9 am to 8 pm; and Sunday 10 am to 6 pm. The dispensary will offer medical products from seven point-of-sale (POS) terminals, accepting both cash and cashless ATM terminals for debit cards. Via Ascend’s support agreement relationship with OPA, this is Ascend’s first outlet store in the state offering everyday low

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NEW YORK, Dec. 6, 2023 /CNW/ – Ascend Wellness Holdings, Inc. (“AWH” or the “Company”) (CSE: AAWH.U) (OTCQX: AAWH), a multi-state, vertically integrated cannabis operator focused on bettering lives through cannabis, announced the opening of an Ascend Dispensary Outlet, located at 6019 Milan Road, Sandusky, Ohio. The dispensary will be Ascend’s third in the state of Ohio and 33rd across its seven-state footprint.1

In 2022, AWH entered into a definitive agreement providing AWH the option to acquire 100% of the equity of Ohio Patient Access LLC (“OPA”).2 In addition to the Sandusky provisional license, OPA owns and will operate two other provisionally licensed dispensaries that are in the process of being built in Cincinnati and Piqua. AWH will benefit from the economics under a support service agreement (“SSA”) with OPA.3

The Sandusky dispensary will be open Monday to Thursday and Saturday from 9 am to 7pm; Friday from 9 am to 8 pm; and Sunday 10 am to 6 pm. The dispensary will offer medical products from seven point-of-sale (POS) terminals, accepting both cash and cashless ATM terminals for debit cards. Via Ascend’s support agreement relationship with OPA, this is Ascend’s first outlet store in the state offering everyday low pricing and discounts.  Ascend prides itself on

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The Cannabist Co. is planning to open a new medical marijuana dispensary at the Laburnum Park Shopping Center in eastern Henrico County. (BizSense file)

An eastern Henrico storefront is trading bottles of booze for marijuana buds.

The Cannabist Co., which operates as the Richmond region’s lone legal medical cannabis provider, is planning to open a marijuana dispensary in the Laburnum Park Shopping Center next year, a company spokeswoman confirmed on Tuesday.

The company has leased the D suite of 4320 S. Laburnum Ave. for its new shop, a 5,500-square-foot space formerly occupied by an ABC store. The shopping center is across from White Oak Village.

Taylor Long Properties recently announced the lease. Robert Marshall and Ellen Long represented the landlord in the deal.

Major tenants in the center include Gold’s Gym and Dollar Tree. Among the other tenants are Cookout, Taco Bell and an Atlantic Union Bank branch. The majority of the center is owned by Vienna-based Westover Apartments LLC, which acquired its portion of the center in 2017.

<img aria-describedby="caption-attachment-154954" class="size-full wp-image-154954"

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WEST CHESTER TOWNSHIP, Ohio (WXIX) – Marijuana in Ohio will soon be legal after the majority of residents voted in favor of Issue 2. However, some municipalities are putting a hold on the cultivation and sale of cannabis in their towns.

The West Chester Board of Trustees voted unanimously in favor of a 360-day moratorium that will pause the sale and cultivation of marijuana in the township.

“Everybody agrees that cannabis is really no different than alcohol consumption – if it’s consumed reasonably, responsibly by adults, why not?” says West Chester Township Trustee Mark Welch.

On Tuesday, Welch was one of several trustees who voted in favor of the emergency resolution to temporarily pause selling, growing and processing cannabis for nearly one year.

This decision comes just one day after the Fairfield City Council voted to ban marijuana dispensaries until 2024.

“We can either say, ‘Okay, it’s legal,’ or do it with modifications with our zoning, or we’ll just say, ‘We’re not going to permit it,’” Welch said. “Where they can buy it is really what is up for grabs at this point and it’s whether or not in West Chester we want to permit retail spaces to be used

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ByHarmandeep Singh, Sangrur Dec 06, 2023 08:42 AM IST Share Via Copy Link An official of the state health department confirmed that they had completed the distribution last week and the Centre-run dispensaries did not receive any medicines

The Punjab health department has left out central ayurveda dispensaries while distributing medicines procured with funds given by the ministry of ayush under centrally-sponsored National Ayush Mission (NAM). The central dispensaries have been without even the essential medicines for five years now.

₹6.5 crore, of which ₹3.9 crore were contributed by the central ministry as its 60% share under NAM, which is also a part of the National Health Mission (NHM) (iStock)” title=”The state government had procured medicines at a cost of ₹6.5 crore, of which ₹3.9 crore were contributed by the central ministry as its 60% share under NAM, which is also a part of the National Health Mission (NHM) (iStock)”> ₹6.5 crore, of

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BUFFALO, N.Y. — Canterra has been operating a cannabis delivery service in the Rochester and Buffalo regions for roughly four months.

However, owner Matt Krupp said he has been eager to open his brick and mortar dispensary in the city of Buffalo.

“We have a little taste with our Growers Showcases but people really love the convenience of being able to come to the store, pick up the products that they want, when they want them,” Krupp said.

On Friday, a judge approved settlements in two lawsuits challenging New York’s Condtional Adult Use Retail Dispensary program and lifted the court order barring new dispensaries from opening. Now, Krupp said he and others are working to open before any new litigation stalls things again.

“The rabbit in the hat, if you will, is how much time might all of us have before something else comes along,” he said.

Krupp said it will probably take him at least four months to open his doors. He said he is working on an area he hopes can be used for consumption as the state’s regulations evolve but said his choice of the old Buffalo X-Ray Co. near downtown makes the buildout more complicated.

“There’s also some

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GARDINER — The Smoking Bear is the first-ever cannabis dispensary to operate in Gardiner, Montana. Located just outside the federal lands of Yellowstone National Park, the owners are hoping to change Montana’s rhetoric on the use of cannabis.

“I’ve always felt that a dispensary would be a good addition to the community. I’ve seen some really good medicinal use in my adult life, and of course recreational use as well,” says Stacy Joy, owner of The Smoking Bear.

She explains how after having to wait 18 months for a license, lawmakers threw a crimp in the business’s plans, postponing new licensing even further.

“Anyone like myself, an entrepreneur who was ready to go and open a new dispensary, we were told it couldn’t happen for at least another two years,” says Joy.

The Smoking Bear was able to open after partnering with local Bozeman dispensary Lazy Daze.

Despite state resistance, Joy says the Gardiner community was welcoming, even coming together to help her open after the unexpected death of her boyfriend and business partner, Justin Bell.

“I am a business owner in other ways in Gardiner and I think people know my intentions are good and I absolutely love this community,” Joy says.

Despite

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Westchester’s first adult recreational cannabis dispensary opened Tuesday after a months-long legal battle that prevented dispensaries across the state from obtaining licenses.

Elevate Cannabis Dispensary in Mount Vernon is the first in Westchester County/Lower Hudson to open as an adult recreational cannabis dispensary, according to its founder John Ruggiero.

“We are delighted to finally open our doors to the community,” Ruggiero said in a news release. “Elevate is committed to providing safe, first-class cannabis products and rapid delivery services for our customers.”

Four disabled veterans sued the state in August, claiming that state cannabis industry regulators “unjustly awarded dispensary licenses” to businesses impacted by prior marijuana convictions. The lawsuit was settled on Nov. 29, awarding over 430 cannabis dispensaries across the Lower Hudson Valley their licenses.

Ruggiero said this is the first of several Elevate locations set to open in the coming months. Ruggiero said his brand is dedicated to social equity causes like “fighting cancer, combating addiction and contributing to the development of affordable housing in the region.”