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Simon's America Plan stumbles because of the dems --->>> McConnell Blasts Marijuana Banking In House-Passed China Bill, Calling It A ‘Poison Pill’
Published 21 hours ago on February 7, 2022
https://www.marijuanamoment.net/mcconnell-blasts-marijuana-banking-in-house-passed-china-bill-calling-it-a-poison-pill/
McConnell Blasts Marijuana Banking In House-Passed China Bill, Calling It A ‘Poison Pill’
Published 21 hours ago on February 7, 2022
https://www.marijuanamoment.net/mcconnell-blasts-marijuana-banking-in-house-passed-china-bill-calling-it-a-poison-pill/
The new BoD member is all about giving back to people and the community.
Ben recently tweeted that ILL hasn't issued a single one of their social equity licenses.
The State has dropped the ball. GTI is a great corporate citizen.
GTI picks a local charity near every store and supports it throughout the year. They also give the first day's profits from a new store opening to that charity.
I like these people better than those in FLA who benefited from secret and definitely illegal deals, but personally and corporately could not be connected to the illegal acts.
Anything that moves in the direction of cleaner renewable energy that makes money for them and improves efficiency is inline with the country's energy policies.
Good for KMI
I'm happy with this appointment --->>> Green Thumb Industries Announces Appointment of Dorri C. McWhorter to Board of Directors
Aleafia Health to Announce Fourth Quarter 2021 Results
TORONTO – February 8, 2022 – Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”) will announce results from its three and 12-month periods ending December 31, 2021 on February 14, 2022. The Company will also host its earnings conference call on February 15 at 9:30 a.m. EST. The call will be hosted by CEO Tricia Symmes and CFO Matt Sale.
CONFERENCE CALL & WEBCAST
Date: February 15, 2022
Time: 9:30 a.m. ET
USA/Canada Toll-Free Participant Call-in: (866) 679-9046; Passcode: 6187986
International Toll-Free Participant Call-in: (409) 217-8323; Passcode: 6187986
WEBCAST LINK
This conference call will be webcast live over the internet and can be accessed through the link provided. Audio of the call will be available to participants through both the conference call line and webcast; however, the presentation may only be viewed via the webcast. Participants who miss the live call can view a replay at any time via the link provided.
Aleafia Health recently changed its fiscal year end from December 31, 2021 to March 31, 2022, and expects to report 2021 fiscal year results by June 29, 2022.
For Investor & Media Relations:
Matt Sale, CFO
1-833-879-2533
IR@AleafiaHealth.com
LEARN MORE: www.AleafiaHealth.com
About Aleafia Health:
Aleafia Health, a vertically integrated and federally licensed Canadian cannabis company, owns three licensed cannabis production facilities, including the first large-scale, legal outdoor cultivation facility in Canadian history, and operates a strategically located distribution centre, all in the province of Ontario. The Company produces a diverse portfolio of cannabis derivative products including oils, capsules, edibles, sublingual strips, and vapes, for sale in Canada in the adult-use and medical markets and is pursuing opportunities in select international jurisdictions. The Company owns and operates a virtual network of medical cannabis clinics staffed by physicians and nurse practitioners.
Forward Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian and United States securities laws. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including risks contained in the Company’s annual information form filed with Canadian securities regulators available on the Company’s SEDAR profile at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
Tilray Brands Consolidates its Global Medical Offering into Tilray Medical, a Comprehensive Portfolio of Brands and Products
February 8, 2022 at 7:00 AM EST
https://ir.tilray.com/news-releases/news-release-details/tilray-brands-consolidates-its-global-medical-offering-tilray
New Division Brings Together the Legacy Tilray and Aphria Medical Businesses; Includes Expanded Offerings in Canada
TORONTO, Feb. 08, 2022 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. ("Tilray" or the "Company") (Nasdaq: TLRY; TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life, today announced the launch of Tilray Medical, a global medical platform that unifies the Company's medical cannabis brands under one strategy, mission, and vision.
Denise Faltischek, Head of International and Chief Strategy Officer, said, "Tilray is the global leader in the advancement of cannabinoid-based medicine, with a focus on providing research-backed medical cannabis products to physicians, pharmacies, and patients. By unifying the global medical divisions of Tilray and Aphria under a cohesive strategy and mission, Tilray Medical emerges as the premier global supplier of a portfolio of high-quality, effective medical cannabis brands and products for patients in need around the world."
Under the Tilray Medical consolidation plan, patients in Canada will have the broadest access to our medical cannabis brands and product choices globally, including Tilray, Aphria, Broken Coast, and Symbios. Subject to local regulatory approvals, Tilray Medical's global portfolio of medical cannabis products includes high-quality and GMP-certified flower, oils, vapes, edibles, and topicals. Looking ahead, Tilray Medical will continue to expand its offering to patients worldwide.
About Tilray Medical
Tilray Medical is dedicated to transforming lives and fostering dignity for patients in need through safe and reliable access to a global portfolio of medical cannabis brands, including Tilray, Aphria, Broken Coast, and Symbios. Tilray grew from being one of the first companies to become an approved licensed producer of medical cannabis in Canada to building the first GMP-certified cannabis production facilities in Europe, first in Portugal and later in Germany. Today, Tilray Medical is one of the biggest suppliers of medical cannabis brands to patients, physicians, hospitals, pharmacies, researchers, and governments, in 20 countries and across five continents.
For more information on Tilray Medical, visit Tilray Medical Canada, Tilray Medical Australia, Tilray Medical Australia-New Zealand, Tilray Medical Europe
About Tilray Brands
Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people's lives for the better – one person at a time. Tilray Brands delivers on this mission by inspiring and empowering the worldwide community to live their very best life and providing access to products that meet the needs of their mind, body, and soul while invoking wellbeing. Patients and consumers trust Tilray Brands to deliver a cultivated experience and health and wellbeing through high-quality, differentiated brands and innovative products. A pioneer in cannabis research, cultivation, and distribution, Tilray’s unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages.
For more information on how we open a world of wellbeing, visit www.Tilray.com.
Forward-Looking Statements
Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: expectations regarding the performance and scale of the Company, including Tilray Medical; and the Company’s ability to expand its offering to patients worldwide, including via Tilray Medical . Many factors could cause actual results, performance or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
Contacts:
Tilray Brands:
Berrin Noorata
news@tilray.com
Investors
Raphael Gross
203-682-8253
Raphael.Gross@icrinc.com
It's about time --->>> Aleafia Health Appoints Tricia Symmes as CEO to Replace Geoffrey Benic
TORONTO –February 7, 2022 – The Board of Directors of Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”) today announced that CEO Geoffrey Benic will leave the Company, effective February 7, 2022. To succeed Benic, the Board named Tricia Symmes, previously the Company’s Chief Commercial Officer (CCO), as the Company’s new CEO.
https://aleafiahealth.com/news-releases/aleafia-health-appoints-tricia-symmes-as-ceo-to-replace-geoffrey-benic/
“Geoff joined Aleafia in June 2018 at a turning point for the Company,” said Mark J. Sandler, board chair. “He brought to Aleafia Health a strong entrepreneurial background and helped the company develop its diversified indoor, greenhouse and outdoor production capabilities and its class-leading processing facilities. We wish Geoff well as he moves on to pursue other business interests.”
Symmes became Aleafia Health’s CCO in August 2020 and led the move into the branded recreation market, where the company recently entered the top 10 in the key market categories. She has extensive executive C-suite experience in the pharmaceutical, biotech, consumer-packaged, and cannabis industries in both North American and international markets. Before joining Aleafia, Symmes served as Chief Operating Officer and General Manager of multinational companies, including Alcon Canada and Novartis Pharmaceuticals, as well as General Manager at CX Industries, a wholly owned subsidiary of Entourage Health Corp. She is one of the first female CEOs in the Canadian cannabis industry.
“Tricia is exactly the right person to rise to the challenges of today’s market and lead the next phase of the company’s growth. Leveraging her 20 years of experience as a senior executive in salient industries, Aleafia has seen exponential growth in adult-use cannabis net revenue in only 6 months, while the company’s medical business has continued to move from strength-to-strength, including through the unparalleled partnership with Unifor.” said Sandler. “Her elevation to CEO is part of the natural evolution of the company and is based on her demonstrated achievements. We look forward to her continuing to improve the company’s operational efficiency, and to profitably building market share and brand recognition nationally and globally.”
Symmes holds an MBA from Charles Sturt University (Australia), and an Honours BSc in Kinesiology (Western University).
For Investor and Media Relations, please contact:
Matt Sale, Chief Financial Officer
1-833-TSX-ALEF (879-2533)
IR@AleafiaHealth.com
LEARN MORE:www.AleafiaHealth.com
About Aleafia Health:
Aleafia Health, a vertically integrated and federally licensed Canadian cannabis company, owns three licensed cannabis production facilities, including the first large-scale, legal outdoor cultivation facility in Canadian history, and operates a strategically located distribution centre, all in the province of Ontario. The Company produces a diverse portfolio of cannabis derivative products including oils, capsules, edibles, sublingual strips, and vapes, for sale in Canada in the adult-use and medical markets and is pursuing opportunities in select international jurisdictions. The Company owns and operates a virtual network of medical cannabis clinics staffed by physicians and nurse practitioners.
Forward Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian and United States securities laws. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including risks contained in the Company’s annual information form filed with Canadian securities regulators available on the Company’s SEDAR profile at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
Kinder Morgan Announces Southern California Renewable Diesel Hub Project
First mover of segregated renewable diesel (R99) by pipeline
02/07/2022
https://ir.kindermorgan.com/news/news-details/2022/Kinder-Morgan-Announces-Southern-California-Renewable-Diesel-Hub-Project/default.aspx
HOUSTON--(BUSINESS WIRE)-- Kinder Morgan, Inc. (NYSE: KMI) today announced the receipt of the necessary commercial commitments to move forward with the permitting and construction of a renewable diesel hub in Southern California. Once constructed, the Southern California renewable diesel hub will enable customers to aggregate renewable diesel batches (R99) in the Los Angeles area and move them on SFPP, L.P.’s pipeline system to the high demand markets in Colton (inland Empire) and Mission Valley (San Diego), California, creating up to 20,000 barrels per day (bpd) of blended diesel throughput capacity at its truck racks with the ability to expand in the future. This Southern California renewable diesel hub, and the previously announced Northern California renewable diesel hub, collectively represent an investment by KMI of over $50 million in the distribution of renewable fuels in California, just over half of which was contemplated in the 2022 budget.
“We are pleased to be constructing these hub projects to expand our renewable diesel handling capabilities,” said KMI’s President of Products Pipelines Dax Sanders. “As refineries are converting to renewable diesel, we believe this is an attractive opportunity to pivot to the energy fuels of the future in a manner that is consistent with our corporate goals and return criteria.” Both projects are supported by long-term customer contracts and are expected to be placed in service in the first quarter of 2023. Capacity is limited and available on a first-come, first-serve basis.
Upon completion, the Southern California hub will be the first of its kind in the United States to transport batches of renewable diesel by pipeline with no resulting loss of product to transmix – a process designed to enable customers to avoid the loss of the valuable California renewable tax credits, including the Low Carbon Fuel Standard (LCFS) credits. The buildout of the Southern California hub consists of three components. At the Carson Terminal in the Port of Los Angeles, KMI is creating community renewable storage capacity with connectivity to both the SFPP pipeline system and the Carson Terminal truck rack. At the Colton Terminal, modifications will create a new dedicated renewable diesel terminal. The renewable diesel will be delivered by the existing 16-inch SFPP pipeline segment from Watson to Colton. The terminal, designed to allow customers to blend their renewable diesel with biodiesel and CARB diesel to desired blends at the truck rack, is expected to accommodate up to 15,000 bpd of blended diesel throughput with expandability up to 20,000 bpd. Lastly, certain storage and truck rack capacity at KMI’s Mission Valley Terminal will be transitioned to enable up to 5,000 bpd of renewable diesel throughput.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient and environmentally responsible manner for the benefit of the people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines, 143 terminals, and 700 billion cubic feet of working natural gas storage capacity. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.
Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. Generally the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning the anticipated timing, capacities and benefits of the planned renewable diesel hub facilities. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on KMI’s operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include the risks and uncertainties described in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2021 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on KMI’s website at ir.kindermorgan.com.
Amy Baek
Media Relations
(713) 420-4644
newsroom@kindermorgan.com
Investor Relations
(800) 348-7320
km_ir@kindermorgan.com
www.kindermorgan.com
Source: Kinder Morgan, Inc.
Surprisingly...Price..$7.01..Day's-Change+0.41(+6.21%)...Nice-bump
Volume(Heavy Day) Today's volume of 399,338 shares is on pace to be much greater than CRLBF's 10-day average volume of 588,111 shares.
February 07, 2022 1:17pm ET
'-Kush-' Today you are spot on.
Cresco Labs Announces 15th Florida Sunnyside Store Opening in North Miami
February 07, 2022
https://investors.crescolabs.com/investors/press-releases/press-release-details/2022/Cresco-Labs-Announces-15th-Florida-Sunnyside-Store-Opening-in-North-Miami/default.aspx
CHICAGO--(BUSINESS WIRE)-- Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, announced today the opening of a new Sunnyside dispensary in North Miami, Florida. Sunnyside North Miami, located at 505 NE 125th St., is Cresco Labs’ first location in Miami-Dade County, 15th store in Florida and 49th dispensary nationwide. The Company’s upcoming Lady Lake store will be its 50th in the US.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220207005284/en/
“We’re thrilled to welcome North Miami patients to Sunnyside’s retail experience for the first time,” said Charlie Bachtell, CEO and Co-founder of Cresco Labs. “One of our priorities this year is to expand access to Cresco Labs portfolio of high-quality and diverse cannabis products and to that end we will be opening new dispensaries across Florida all year.”
Sunnyside North Miami is a highly accessible retail location situated on a busy retail corridor and a few blocks away from the heavily trafficked I-95 Expressway and State Road 909. The medical cannabis dispensary will serve patients in Miami-Dade County with simple online ordering and convenient next-day delivery service.
Patients of the new store will have access one of the largest selections of cannabis products and accessories, including One Plant’s top selling, premium, hand-trimmed flower and solventless live rosin concentrates, as well as vape cartridges, pre-rolls, tinctures, lighters, rolling papers and more. Regular store hours are Monday through Saturday, 10 a.m. to 8 p.m., and Sunday, 10 a.m. to 5 p.m.
In addition to the North Miami opening, Cresco Labs serves patients through its Sunnyside dispensaries in Avon Park, Boynton Beach, Orlando (Fern Park), Jacksonville Beach, Ocala, Port St. Lucie, St. Petersburg, Bonita Springs, Fort Lauderdale, Oakland Park, Tallahassee, Pensacola, Sarasota and Clearwater.
For more information about Sunnyside and to place online orders, visit www.sunnyside.shop.
About Cresco Labs Inc.
Cresco Labs is one of the largest vertically integrated multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry. Employing a consumer-packaged goods (“CPG”) approach, Cresco Labs is the largest wholesaler of branded cannabis products in the U.S. Its brands are designed to meet the needs of all consumer segments and comprised of some of the most recognized and trusted national brands including Cresco, High Supply, Mindy's Edibles, Good News, Remedi, Wonder Wellness Co. and FloraCal Farms. Sunnyside, Cresco Labs’ national dispensary brand, is a wellness-focused retailer created to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco Labs operates the industry’s largest Social Equity and Educational Development initiative, SEED, which was established to ensure that all members of society have the skills, knowledge and opportunity to work and own businesses in the cannabis industry. Learn more about Cresco Labs at www.crescolabs.com.
Forward Looking Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, ‘may,’ ‘will,’ ‘should,’ ‘could,’ ‘would,’ ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘estimates,’ ‘projects,’ ‘predicts,’ ‘potential’ or ‘continue’ or the negative of those forms or other comparable terms. The Company’s forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2020 filed on March 26, 2021, and other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company’s forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs’ shares, nor as to the Company’s financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company’s forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220207005284/en/
Media:
Jason Erkes, Cresco Labs
Chief Communications Officer
press@crescolabs.com
Investor Relations:
investors@crescolabs.com
For general Cresco Labs inquiries:
312-929-0993
info@crescolabs.com
Source: Cresco Labs
Trulieve Unveils Expansive Florida Product Release Lineup for February
February 7, 2022 at 7:40 AM EST
https://investors.trulieve.com/news-releases/news-release-details/trulieve-unveils-expansive-florida-product-release-lineup
Cannabis company to introduce two proprietary brands and bring a favorite back to Florida patients
TALLAHASSEE, Fla., Feb. 7, 2022 /PRNewswire/ -- Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the U.S., today announced the Florida launch of two proprietary brands, Sweet Talk™ and Momenta™, new Cultivar Collection™ flower releases, and the second product drop of Live Diamonds by Muse™.
"It's an exciting time for Florida's medical cannabis patients as we continue to expand our offerings and introduce proprietary brands in our home state," said Kim Rivers, CEO of Trulieve. "Trulieve continues to focus on growing safe, quality cannabis and continually innovating to provide a wide variety of products for our medical patients in Florida."
Florida patients can expect the following product introductions this February:
Momenta – Trulieve's staple cannabis line for everyday wellness and overall well-being. The product lineup includes tinctures, nano tinctures, capsules, RSO and a topical muscle gel. Momenta takes a modernized approach to holistic wellness by empowering personal progress every step of the way on your wellness journey.
Sweet Talk – Trulieve's newest introduction of tasty edibles. The brand will launch in Florida with strawberry gels. In the future, Sweet Talk products will expand to include chocolate bars and a variety of gummies.
Live Diamonds by Muse – The most recent innovation from Trulieve's state-of-the-art hydrocarbon extraction lab, the only one of its kind in the state of Florida. The initial product release last month of 500 units sold out within 24 hours. Trulieve's second batch of Live Diamonds will become available for purchase on February 7 at noon.
Cultivar Collection – Throughout the month, Trulieve will introduce regional product drops of its small-batch, top-shelf whole flower throughout the state of Florida. Patients can register to receive product release alerts here.
The introduction of Sweet Talk and Momenta, in addition to the expansion of Muse and Cultivar Collection offerings, represents Trulieve's continued focus on offering its proprietary brands to Florida's patient community.
The company also recently announced an exclusive launch with Miami Mango cannabis in South Florida later this February.
Trulieve patients across Florida can choose from the largest selection of THC and CBD products available in a variety of consumption methods, including smokable flower, concentrates, edibles, capsules, syringes, tinctures, topical creams, vaporizers and more. Patients have access to beloved brands such as Bellamy Brothers, Bhang, Binske, Blue River, Black Tuna, Love's Oven, O.pen, and Sunshine Cannabis, all available exclusively at Trulieve in Florida.
For more information, to find a location, or to learn how to become a registered patient, please visit Trulieve.com and connect on Instagram or Facebook. Stay up to date with Trulieve's proprietary brands on social media: @meet.your.muse, @mymomenta, @sweettalkedibles and @thecultivarcollection.
About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S. operating in 11 states, with leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com.
Facebook: @Trulieve
Instagram: @Trulieve_
Twitter: @Trulieve
Investor Contact
Christine Hersey, Director of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com
Media Contact
Rob Kremer, Executive Director of Corporate Communications
+1 (404) 218-3077
Robert.Kremer@Trulieve.com
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/trulieve-unveils-expansive-florida-product-release-lineup-for-february-301476233.html
SOURCE Trulieve Cannabis Corp.
See Blue--->>> GTI to Open Two Rise Retail Locations in Virginia, Expanding Footprint to Four Stores in the Commonwealth
FEBRUARY 7, 2022
https://investors.gtigrows.com/investors/news-and-events/press-releases/press-release-details/2022/Green-Thumb-to-Open-Two-Rise-Retail-Locations-in-Virginia-Expanding-Footprint-to-Four-Stores-in-the-Commonwealth/default.aspx
CHICAGO, Feb. 07, 2022 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (Green Thumb) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise dispensaries, today announced it will open two new retail locations in Virginia: Rise Lynchburg on February 8; and Rise Christiansburg on February 10. Profits from the first day of sales will be donated to local organizations for each store opening: Rise Lynchburg will donate to Shawn Moss Wellness and Growth Foundation (SWAG Foundation) and Rise Christiansburg will donate to Montgomery County Emergency Assistance Program (MCEAP).
As exciting as that sounds, legalization is only happening if some of the Senate leadership being referred to include Republicans.
Schumer Plans To File Marijuana Legalization Bill In April As Top House Lawmaker Details His Own Reform Plan
Published 3 hours ago on February 4, 2022
By Kyle Jaeger
Senate Majority Leader Chuck Schumer (D-NY) announced at a press conference on Friday that he is aiming to formally file his much-anticipated bill to federally legalize marijuana in April. House Judiciary Committee Chairman Jerrold Nadler (D-NY), who also spoke, discussed progress on his separate legalization bill.
Both top lawmakers detailed their efforts to end prohibition at an event in New York City, which also involved House Small Business Committee Chairwoman Nydia Velazquez (D-NY), New York lawmakers and advocates with the Drug Policy Alliance and other organizations.
Friday proved to be an especially eventful day for federal cannabis policy, as the House earlier passed a large-scale bill that contains the bipartisan Secure and Fair Enforcement (SAFE) Banking Act. It’s the sixth time that reform has cleared the chamber in some form.
“In the coming weeks, we’re ramping up our outreach—and we expect to introduce final legislation. Our goal is to do it in April,” Schumer said at the New York event. “Then we begin the nationwide push, spearheaded by New York, to get the federal law done. As majority leader, I can set priorities. This is a priority for me.”
Advocates were encouraged when Schumer first disclosed details about his Cannabis Administration & Opportunity Act (CAOA), which he unveiled in draft form for public comment in July, but they’ve grown impatient with his repeated comments in the months since that a formal introduction was coming “soon.” Now he’s set a target timeline, and the leader also separately said in a meeting with activists that he expects committee hearings on the proposal shortly after it’s finally filed.
“Right now, we’re taking those comments [on the draft version] and reaching out to Democratic and Republican senators,” Schumer said, adding that “we have some Republican support.” It’s not clear if he’s indicating that there will be GOP cosponsors on the bill itself or if he’s referencing general support from voters and some lawmakers across party lines for ending prohibition.
“If any senators have other ideas that they want to add to the bill, as long as it keeps social and economic justice as the spearhead, we’re happy and willing to listen,” he said.
Even if committee hearings start quickly following an April introduction, it seems highly unlikely that it will pass and make it to the president’s desk by the unofficial cannabis holiday 4/20, as Schumer said he wanted to see happen in a Senate floor speech delivered last April 20.
Schumer, Nadler, several New York lawmakers also made the case at Friday’s event that while New York’s legalization law, which is actively being implemented, should serve as a model for the country, comprehensive equity will only be achievable once federal prohibition is lifted.
“We want to renew the case for comprehensive marijuana reform that repairs the harm of the war on drugs at the federal level, using the great work that has been done here in New York as an example and way to lead,” Schumer said, adding that “just because we have a state law, the federal law still creates problems, and that’s why one of the many reasons we need to change it.”
The majority leader’s office has been involved in negotiations with advocates and stakeholders, both on his legalization measure as well as the SAFE Banking Act, which he was blamed for blocking as part of a separate defense bill late last year.
The leader and colleagues have insisted on passing comprehensive legalization first before banking—but the sponsor of the banking bill, Rep. Ed Perlmutter (D-CO), told Marijuana Moment on Friday that, after initiating conversations with the leader’s office, there may be a path forward to advance his legislation through both chambers with equity-focused amendments that Schumer wants to see.
With respect to Schumer’s legalization bill, the Senate leader emphasized late last year that he wants to keep the “big boys” out of the marijuana industry in favor of creating opportunities for smaller operators when cannabis is federally legalized, and he said that his upcoming bill would accomplish that.
“We don’t want the big boys to come in,” he said at the time. “After all the pain that’s been occurring in communities like the one you represent in Brooklyn, where I’m from—to have the big boys come in and make all the money makes no sense.”
He’s made similar remarks in the past, stressing that his reform bill will take specific steps to restrict the ability of large alcohol and tobacco companies to overtake the industry.
Nadler, meanwhile, discussed on Friday his Marijuana Opportunity, Reinvestment and Expungement (MORE) Act, which would also end federal prohibition and promote social equity in the industry like CAOA. That bill passed the House in a historic first last session, and it cleared Nadler’s Judiciary Committee again in September.
“The war on drugs—and particularly the criminalization of marijuana—has been a failure that has unleashed untold suffering on millions of Americans, especially within minority communities,” Nadler said. “I am proud to stand here with Senator Schumer, and with the many other legislators and advocates with us today, who are leading the way in reforming our laws and bringing justice to those who have been harmed by these unfair and destructive policies.”
Also at the event, Velazquez talked about the importance of ending prohibition, as well as opening up Small Business Administration (SBA) resources for marijuana businesses.
“Change will not happen, change will not come, unless we demand it,” the congresswoman said. “And because we have been demanding it, public opinion has changed dramatically. So it is time for government to act, particularly the federal government.”
Dan Goldman contributed reporting from New York.
Schumer Plans To File Marijuana Legalization Bill In April As Top House Lawmaker Details His Own Reform Plan
Published 3 hours ago on February 4, 2022
By Kyle Jaeger
Senate Majority Leader Chuck Schumer (D-NY) announced at a press conference on Friday that he is aiming to formally file his much-anticipated bill to federally legalize marijuana in April. House Judiciary Committee Chairman Jerrold Nadler (D-NY), who also spoke, discussed progress on his separate legalization bill.
Both top lawmakers detailed their efforts to end prohibition at an event in New York City, which also involved House Small Business Committee Chairwoman Nydia Velazquez (D-NY), New York lawmakers and advocates with the Drug Policy Alliance and other organizations.
Friday proved to be an especially eventful day for federal cannabis policy, as the House earlier passed a large-scale bill that contains the bipartisan Secure and Fair Enforcement (SAFE) Banking Act. It’s the sixth time that reform has cleared the chamber in some form.
“In the coming weeks, we’re ramping up our outreach—and we expect to introduce final legislation. Our goal is to do it in April,” Schumer said at the New York event. “Then we begin the nationwide push, spearheaded by New York, to get the federal law done. As majority leader, I can set priorities. This is a priority for me.”
Advocates were encouraged when Schumer first disclosed details about his Cannabis Administration & Opportunity Act (CAOA), which he unveiled in draft form for public comment in July, but they’ve grown impatient with his repeated comments in the months since that a formal introduction was coming “soon.” Now he’s set a target timeline, and the leader also separately said in a meeting with activists that he expects committee hearings on the proposal shortly after it’s finally filed.
“Right now, we’re taking those comments [on the draft version] and reaching out to Democratic and Republican senators,” Schumer said, adding that “we have some Republican support.” It’s not clear if he’s indicating that there will be GOP cosponsors on the bill itself or if he’s referencing general support from voters and some lawmakers across party lines for ending prohibition.
“If any senators have other ideas that they want to add to the bill, as long as it keeps social and economic justice as the spearhead, we’re happy and willing to listen,” he said.
Even if committee hearings start quickly following an April introduction, it seems highly unlikely that it will pass and make it to the president’s desk by the unofficial cannabis holiday 4/20, as Schumer said he wanted to see happen in a Senate floor speech delivered last April 20.
Schumer, Nadler, several New York lawmakers also made the case at Friday’s event that while New York’s legalization law, which is actively being implemented, should serve as a model for the country, comprehensive equity will only be achievable once federal prohibition is lifted.
“We want to renew the case for comprehensive marijuana reform that repairs the harm of the war on drugs at the federal level, using the great work that has been done here in New York as an example and way to lead,” Schumer said, adding that “just because we have a state law, the federal law still creates problems, and that’s why one of the many reasons we need to change it.”
The majority leader’s office has been involved in negotiations with advocates and stakeholders, both on his legalization measure as well as the SAFE Banking Act, which he was blamed for blocking as part of a separate defense bill late last year.
The leader and colleagues have insisted on passing comprehensive legalization first before banking—but the sponsor of the banking bill, Rep. Ed Perlmutter (D-CO), told Marijuana Moment on Friday that, after initiating conversations with the leader’s office, there may be a path forward to advance his legislation through both chambers with equity-focused amendments that Schumer wants to see.
With respect to Schumer’s legalization bill, the Senate leader emphasized late last year that he wants to keep the “big boys” out of the marijuana industry in favor of creating opportunities for smaller operators when cannabis is federally legalized, and he said that his upcoming bill would accomplish that.
“We don’t want the big boys to come in,” he said at the time. “After all the pain that’s been occurring in communities like the one you represent in Brooklyn, where I’m from—to have the big boys come in and make all the money makes no sense.”
He’s made similar remarks in the past, stressing that his reform bill will take specific steps to restrict the ability of large alcohol and tobacco companies to overtake the industry.
Nadler, meanwhile, discussed on Friday his Marijuana Opportunity, Reinvestment and Expungement (MORE) Act, which would also end federal prohibition and promote social equity in the industry like CAOA. That bill passed the House in a historic first last session, and it cleared Nadler’s Judiciary Committee again in September.
“The war on drugs—and particularly the criminalization of marijuana—has been a failure that has unleashed untold suffering on millions of Americans, especially within minority communities,” Nadler said. “I am proud to stand here with Senator Schumer, and with the many other legislators and advocates with us today, who are leading the way in reforming our laws and bringing justice to those who have been harmed by these unfair and destructive policies.”
Also at the event, Velazquez talked about the importance of ending prohibition, as well as opening up Small Business Administration (SBA) resources for marijuana businesses.
“Change will not happen, change will not come, unless we demand it,” the congresswoman said. “And because we have been demanding it, public opinion has changed dramatically. So it is time for government to act, particularly the federal government.”
Dan Goldman contributed reporting from New York.
Let's hope progress starts being made and REDDIT gets back in.
Thanks for the "6" stat. It would sure be nice if enough republicans cared about the cannabis legalization issue. If they joined in SAFE would be a slam dunk.
At least USA legalization would turn this around. Maybe like a bear I should go hibernate. Wake me up when it happens.
Agreed, there is a reason. I fear they are being penny-wise and pound-foolish. I wish one of the callers on the ER conference call asked about it. Obviously it's part of Trulieve's strategy.
5 GTI stores in one state and 3 stores in another state, and 4 stores in a third state all operating under 3 different names does nothing to increase brand recognition.
Do we want GTI to have a powerful national brand identity, or do we want to promote like Mom & Pops that are locally owned and operated?
IMO, power wins if you intend to be a national company. So act like it. Rebrand the stores
Hotel chains like Hilton and Marriott control empires of brands and thousands of company owned and franchised worldwide locations.
If you want to buy one of the hotel franchises, the franchisee has to subjugate their own individuality to the greater good. They have to duplicate the look and feel of their hotel if building from the ground up, or if converting an unaffiliated hotel, they must rebrand and remodel.
Each of those hotel brands present uniformed images and services in an aim to meet consumer comfort & price expectations, and garner loyalty.
Yet they are all advertised under the Hilton and Marriott banners.
GTI should look and feel like one powerful company to investors. Not doing so is hurting us.
Very exciting. Unfortunately it means nothing until the Senate gets enthusiastic. How many times has the House already passed versions of this?
IMO, this will be huge for Tilray. They should quickly pivot to the EU to start making non-cannabis acquisitions as they have done in the USA.
Thanks "john1311"--->>>Cannabis Legalization in Germany – The Final Blow to European Drug Prohibition?
11 JANUARY 2022/ BY ROBIN HOFMANN
https://europeanlawblog.eu/2022/01/11/cannabis-legalization-in-germany-the-final-blow-to-european-drug-prohibition/
The new German government plans to legalize cannabis. The bill for the cannabis control law includes the licensed cultivation of the soft drug and the selling in specialized shops to persons over 18 years. The biggest EU Member states consider itself in good company: Canada legalized cannabis in 2018. A number of American states soon followed. In the EU, Luxembourg and Malta took the step towards legalization in 2021. In the Netherlands, cannabis has been freely available in the famous coffee shops since the 1970s. Still, under Article 2 of the Dutch Narcotics Law (Opiumwet) the possession of narcotics, including cannabis and its derivatives are forbidden. The fact that Dutch authorities nevertheless tolerate the sale in coffee shops (so-called gedoogbeleid) is based on the opportunity principle. This principle gives the Dutch investigating authorities discretionary power in deciding which offences to prosecute and which not. Based on this, Dutch prosecutors consider the selling and possession of limited amounts of cannabis as tolerable.
Neverthless,some legalization enthusiasts identify a global movement away from drug prohibition policies and towards a liberal approach to addictive substances. Indeed, the German approach is no less than a small revolution of over half a century of cannabis prohibition in Europe. The question remains: how is Germany going to do it without breaking international and European law? This post will explore the legal reasoning behind cannabis legalization in Europe, the legal barriers raised by the ECJ and how Germany is trying to circumvent them.
The ECJ Josemans Judgement
Back in 2010 the ECJ issued the judgement C-137/09 Josemans vs. Burgermeester van Maastricht. In the underlying case the plaintiff Josemans, the owner of a coffee shop in the Dutch city of Maastricht, defended himself against the closure of his establishment by the city. The mayor had decreed that access to coffee shops could only be granted to persons who were residents of the Netherlands. The aim of this regulation was to curb drug tourism from Germany, France and Belgium by requiring a Dutch residence permit in order to buy cannabis in the coffeeshops. The plaintiff had violated this regulation and claimed that it led to discrimination of EU citizens. The Court ruled all narcotic drugs including cannabis are prohibited in all the EU Member states with the exception of strictly controlled trade for use for medical and scientific purposes (para 36). Hence, as cannabis sold in coffeeshops is not marketed for the latter purposes and consequently are prohibited from being released into the economic and commercial channels, restrictions with regard to nationality are no violation of the principle of non-discrimination (para 42).
If the large-scale cultivation, the trade and selling of cannabis outside of medical and scientific purposes is illegal within the EU, how can countries like Malta, Luxembourg, the Netherlands and now Germany legalize cannabis for recreational purposes? The answer is: it depends on how the legalization is conceptualized. Within the EU Luxemburg and Malta have opted for a legalization-light, where consumption and cultivation for personal use is allowed, while the commercial cultivation and selling remains prohibited. A similar policy has evolved in Spain and to a lesser extent in Belgium, where so called cannabis social clubs facilitate personal cultivation and consumption of cannabis. However, none of these models are as ambitious as the German plans with what can be called the total legalization of cannabis consumption.
Especially the Netherlands with its unique coffeeshop model are observing the German plans with great interest – and astonishment. The country had struggled for decades to legalize the supply side for cannabis products resulting in what criminologists coined back-door problem: while selling cannabis in coffee shops is tolerated, the cultivation and buying of large quantities remains prohibited. This leaves the coffee shops with no choice then to buy the product illegally. Through the front door the cannabis goes out legally, through the backdoor it enters illegally. The reasons for this birth defect of Dutch cannabis policies are to be found in European law and ECJ jurisprudence which strictly prohibits cultivation and sale for purposes other than medical and scientific ones. But if the Netherlands never managed to solve this problem how is Germany then going to do it? Did they find a legal loophole in European law? Well, they might have.
Drug Prohibition and EU Law
To understand the German approach, it helps to first have a look again at the ECJ Josemans Judgement. Besides emphasizing the strong interconnection of international and European law the ECJ refers to Framework Decision 2004/757. Much like the Schengen agreement from 1990 this framework decision deals with the threat and fight against illicit drug trafficking with means of law enforcement. In addition, it puts a strong focus on a more coordinated and harmonized approach. With Schengen and the abolition of border controls within the EU, drug trafficking received an enormous boost. The fight against drugs required harmonized law and enforcement strategies especially because the member states implemented very different drug policies. While Sweden, for example, until today has a zero-tolerance policy towards all forms of drugs, the Netherlands did not take prevention of drug related crimes very seriously for many years. But in a united Europe, a fundamental problem of drugs became drastically apparent: policies in one country may have great impact in another country. Particularly Germany has struggled with this issue. For example, the Czech Republic’s lax handling of Chrystal Meth laboratories has led to a small epidemic in neighboring Bavaria with all the negative consequences such as drug related crimes, increased need for therapy and drug-related deaths. The tolerance policy of the Dutch has been clogging up the courts of German border towns with criminal cases related to cannabis smuggling. Hence, Germany advocated over years for a prohibitionist approach to drugs and the Framework Decision stresses harmonization and coordination as a key factor within EU drug policies.
But the true innovation of the framework decision is to be found in Article 2(2) of the Framework Decision. Here the cultivation of cannabis and other drugs is not prohibited if ‘it is committed by its perpetrators exclusively for their own personal consumption as defined by national law.’ Back in 2004 this was no less than a small revolution with regards to drug policies. Spanish courts almost immediately took the provision up and introduced it into their rulings virtually legalizing cultivation for personal consumption. The provision is not only the legal basis for the cannabis social club movement that has appeared in many member states but also for the Luxemburg and Maltese approach. However, the wording of Article 2 does not allow for a far reaching legalization model as planned by the German legislator. Instead, the German approach is based on Article 2(1) of the Framework decision. It obliges each Member State is to take the ‘necessary measures to ensure that, inter alia, the following intentional conduct when committed without right is punishable: offering, offering for sale, distribution, sale, delivery on any terms whatsoever and brokerage of drugs’. The crucial two words in the article are ‘without right.’ Those form the legal fundament of the German cannabis control bill as it is stated in the appendix of the latter:
‘Legal trade in cannabis by permit holders under the Cannabis Control Act is therefore not covered by the Framework Decision, as in these cases there is a right (in German: Berechtigung) under national law.’
Put differently: European law released the member states from taking measures against the trade with drugs including cannabis if this trade is rightful or based on a right. The crucial question is what makes drug trade rightful? To find an answer to this question a quick look into international law or the jurisprudence of the ECJ of the past 30 years helps. The trade and cultivation of any drug is permitted if it is for scientific and medical purposes. Art. 7 of the Convention on Psychotropic Substances from 1971 only allows that manufacture, trade, distribution and possession of any drug only for duly authorized persons, in medical or scientific establishments which are directly under the control of their Governments or specifically approved by them. Moreover, they require a license prior authorization. While international law is very clear in the matter of licensing and authorization to handle drugs of any kind European law is not. Indeed, neither in the Schengenaquis nor in the Framework Decision the restriction to medical and scientific purposes is mentioned. However, both refer directly to international law and so does the ECJ in its jurisprudence. The crucial question therefore is: Does the wording of the Framework Decision allow for EU Member states to no less then unhinge the entire EU drug prohibition regime by giving them the possibility to define by law what constitutes a right to cultivate and trade cannabis?
The German interpretation of ‘without right’
At first sight this seems far-fetched. Harmonization and coordination in the fight against illicit drug trade is the guiding principle of EU drug policies particularly emphasized in the framework decision. How would a provision foster this goal that provides for every member state to opt out of the prohibitive regime virtually enabling them to legalize every existing drug? Even if this was the intention of the legislator one would have expected some further explanation of such a drastic step. But there is indeed no single word on this matter in the additional material to the Framework Decision. Moreover, this Framework Decision dates back to the early 2000s, a time where cannabis liberalization was more of an exotic idea. Lastly there is the jurisprudence of the ECJ that repeatedly since the Horvarth decision from 1981 has corroborated the solemn exemption of strictly controlled drug trade for medical and scientific purposes.
But what speaks for the interpretation of the German legislator that basically allows for all member states to create their own drug laws? Well, first of all the wording of Article 2(1). While the international treaties tend to speak about ‘authorization’ and ‘licensing’ whenever it comes to drug cultivation for medical or scientific purposes, the framework decision explicitly refers to a ‘right’ to do so. A right, however, a is more than a permission or license. A right can be created by law. If the Framework Decision does not specify any limitations, it seems reasonable that the Member States themselves specify what constitutes the right in question. Moreover, with regards to the international treaties lit 2 only explicitly refers to the European treaties (e.g. the conclusions of Tampere) when it calls for legislative action to tackle illicit drug trafficking. It does not directly mention the important international treaties. Indeed, the Vienna Convention on Psychotropic substances from 1971 containing the important exemption of medical/scientific purposes is mentioned in Art. 1 but only with regards to the definition of drugs. One could deduce from this that the Framework Decision is meant to be a step towards an independent EU drug policy with more latitude than offered by the international conventions. However, the Schengen agreement and also the EU action plans on drugs from 2000 to 2004 leaves no doubt that member states to the international drug control conventions are bound by the limitations for medical and scientific purposes.
In conclusion there seems be the better arguments for a narrow interpretation of the terms ‘without right’ as relating only to scientific and medical purposes. The German legislator interpreted the framework literally, but it is rather unlikely that this will hold up in court. Hence, the German cannabis control bill is based on a very formal yet questionable interpretation of EU law. This leaves the question what the possible consequences of this German way are?
Conclusion
In 2019 the ECJ issued a judgement that shook the German legislator to its bones. In case C-591/17 Republic of Austria vs. Republic of Germany the court decided that the German infrastructure use charge for passengers vehicles entails a discrimination against EU citizens. Germany had passed a bill requiring all passenger vehicles using the German Autobahn to pay a toll. Nothing unusual here. But the clue was that German vehicle owners could claim back the toll through their taxes. The ECJ rightfully considered this clear discrimination on grounds of nationality pursuant to Article 18 TFEU and dismissed the German law. Will the cannabis control law share the same fate? There is a good chance. Just like the infrastructure charge the cannabis control law widely ignores EU law, the ECJ jurisprudence as well as the interest of other EU member states. How, for example, will Germany curb drug tourism to Poland, Austria or Denmark? After years of pressure from the German neighbor the Dutch have linked the sale of cannabis in border towns to a residence permit. The ECJ considered this legal and non-discriminatory for the reason that cannabis is still a prohibited product under Dutch national law. Hence, there cannot be a right for EU citizens to buy this product. But under the German bill cannabis would not be a prohibited anymore. This would also cut of the possibility to restrict the selling of the product only to German residents as this then indeed would be a discrimination according to the ECJ jurisprudence. But how else could Germany then tackle the problem of drug tourism? The bill leaves this issue unresolved.
There exist good reasons for legalizing cannabis: It may help to dry up illegal markets, relieving the criminal justice systems while reducing stigmatization of consumers and potentially minimizes health risks through quality controls. More importantly the gateway drug issue becomes better manageable: Those who buy weed from a dealer are often offered harder drugs as well, often as a free sample. A comprehensive but cautious legalization of cannabis is a reasonable drug policy. However, it must take into account the interests of other member states and be in line with European law. If this law no longer fits in time, one has to change it. Within the EU this is a long and winding road. There are no shortcuts, not even for Germany.
IMO, FFLWF should quickly pivot to the EU where they have 3,071 Stores across Europe and other regions. Cannabis legalization is going to happen faster there than in the USA.
Cannabis Legalization in Germany – The Final Blow to European Drug Prohibition?
11 JANUARY 2022/ BY ROBIN HOFMANN
https://europeanlawblog.eu/2022/01/11/cannabis-legalization-in-germany-the-final-blow-to-european-drug-prohibition/
The new German government plans to legalize cannabis. The bill for the cannabis control law includes the licensed cultivation of the soft drug and the selling in specialized shops to persons over 18 years. The biggest EU Member states consider itself in good company: Canada legalized cannabis in 2018. A number of American states soon followed. In the EU, Luxembourg and Malta took the step towards legalization in 2021. In the Netherlands, cannabis has been freely available in the famous coffee shops since the 1970s. Still, under Article 2 of the Dutch Narcotics Law (Opiumwet) the possession of narcotics, including cannabis and its derivatives are forbidden. The fact that Dutch authorities nevertheless tolerate the sale in coffee shops (so-called gedoogbeleid) is based on the opportunity principle. This principle gives the Dutch investigating authorities discretionary power in deciding which offences to prosecute and which not. Based on this, Dutch prosecutors consider the selling and possession of limited amounts of cannabis as tolerable.
Neverthless,some legalization enthusiasts identify a global movement away from drug prohibition policies and towards a liberal approach to addictive substances. Indeed, the German approach is no less than a small revolution of over half a century of cannabis prohibition in Europe. The question remains: how is Germany going to do it without breaking international and European law? This post will explore the legal reasoning behind cannabis legalization in Europe, the legal barriers raised by the ECJ and how Germany is trying to circumvent them.
The ECJ Josemans Judgement
Back in 2010 the ECJ issued the judgement C-137/09 Josemans vs. Burgermeester van Maastricht. In the underlying case the plaintiff Josemans, the owner of a coffee shop in the Dutch city of Maastricht, defended himself against the closure of his establishment by the city. The mayor had decreed that access to coffee shops could only be granted to persons who were residents of the Netherlands. The aim of this regulation was to curb drug tourism from Germany, France and Belgium by requiring a Dutch residence permit in order to buy cannabis in the coffeeshops. The plaintiff had violated this regulation and claimed that it led to discrimination of EU citizens. The Court ruled all narcotic drugs including cannabis are prohibited in all the EU Member states with the exception of strictly controlled trade for use for medical and scientific purposes (para 36). Hence, as cannabis sold in coffeeshops is not marketed for the latter purposes and consequently are prohibited from being released into the economic and commercial channels, restrictions with regard to nationality are no violation of the principle of non-discrimination (para 42).
If the large-scale cultivation, the trade and selling of cannabis outside of medical and scientific purposes is illegal within the EU, how can countries like Malta, Luxembourg, the Netherlands and now Germany legalize cannabis for recreational purposes? The answer is: it depends on how the legalization is conceptualized. Within the EU Luxemburg and Malta have opted for a legalization-light, where consumption and cultivation for personal use is allowed, while the commercial cultivation and selling remains prohibited. A similar policy has evolved in Spain and to a lesser extent in Belgium, where so called cannabis social clubs facilitate personal cultivation and consumption of cannabis. However, none of these models are as ambitious as the German plans with what can be called the total legalization of cannabis consumption.
Especially the Netherlands with its unique coffeeshop model are observing the German plans with great interest – and astonishment. The country had struggled for decades to legalize the supply side for cannabis products resulting in what criminologists coined back-door problem: while selling cannabis in coffee shops is tolerated, the cultivation and buying of large quantities remains prohibited. This leaves the coffee shops with no choice then to buy the product illegally. Through the front door the cannabis goes out legally, through the backdoor it enters illegally. The reasons for this birth defect of Dutch cannabis policies are to be found in European law and ECJ jurisprudence which strictly prohibits cultivation and sale for purposes other than medical and scientific ones. But if the Netherlands never managed to solve this problem how is Germany then going to do it? Did they find a legal loophole in European law? Well, they might have.
Drug Prohibition and EU Law
To understand the German approach, it helps to first have a look again at the ECJ Josemans Judgement. Besides emphasizing the strong interconnection of international and European law the ECJ refers to Framework Decision 2004/757. Much like the Schengen agreement from 1990 this framework decision deals with the threat and fight against illicit drug trafficking with means of law enforcement. In addition, it puts a strong focus on a more coordinated and harmonized approach. With Schengen and the abolition of border controls within the EU, drug trafficking received an enormous boost. The fight against drugs required harmonized law and enforcement strategies especially because the member states implemented very different drug policies. While Sweden, for example, until today has a zero-tolerance policy towards all forms of drugs, the Netherlands did not take prevention of drug related crimes very seriously for many years. But in a united Europe, a fundamental problem of drugs became drastically apparent: policies in one country may have great impact in another country. Particularly Germany has struggled with this issue. For example, the Czech Republic’s lax handling of Chrystal Meth laboratories has led to a small epidemic in neighboring Bavaria with all the negative consequences such as drug related crimes, increased need for therapy and drug-related deaths. The tolerance policy of the Dutch has been clogging up the courts of German border towns with criminal cases related to cannabis smuggling. Hence, Germany advocated over years for a prohibitionist approach to drugs and the Framework Decision stresses harmonization and coordination as a key factor within EU drug policies.
But the true innovation of the framework decision is to be found in Article 2(2) of the Framework Decision. Here the cultivation of cannabis and other drugs is not prohibited if ‘it is committed by its perpetrators exclusively for their own personal consumption as defined by national law.’ Back in 2004 this was no less than a small revolution with regards to drug policies. Spanish courts almost immediately took the provision up and introduced it into their rulings virtually legalizing cultivation for personal consumption. The provision is not only the legal basis for the cannabis social club movement that has appeared in many member states but also for the Luxemburg and Maltese approach. However, the wording of Article 2 does not allow for a far reaching legalization model as planned by the German legislator. Instead, the German approach is based on Article 2(1) of the Framework decision. It obliges each Member State is to take the ‘necessary measures to ensure that, inter alia, the following intentional conduct when committed without right is punishable: offering, offering for sale, distribution, sale, delivery on any terms whatsoever and brokerage of drugs’. The crucial two words in the article are ‘without right.’ Those form the legal fundament of the German cannabis control bill as it is stated in the appendix of the latter:
‘Legal trade in cannabis by permit holders under the Cannabis Control Act is therefore not covered by the Framework Decision, as in these cases there is a right (in German: Berechtigung) under national law.’
Put differently: European law released the member states from taking measures against the trade with drugs including cannabis if this trade is rightful or based on a right. The crucial question is what makes drug trade rightful? To find an answer to this question a quick look into international law or the jurisprudence of the ECJ of the past 30 years helps. The trade and cultivation of any drug is permitted if it is for scientific and medical purposes. Art. 7 of the Convention on Psychotropic Substances from 1971 only allows that manufacture, trade, distribution and possession of any drug only for duly authorized persons, in medical or scientific establishments which are directly under the control of their Governments or specifically approved by them. Moreover, they require a license prior authorization. While international law is very clear in the matter of licensing and authorization to handle drugs of any kind European law is not. Indeed, neither in the Schengenaquis nor in the Framework Decision the restriction to medical and scientific purposes is mentioned. However, both refer directly to international law and so does the ECJ in its jurisprudence. The crucial question therefore is: Does the wording of the Framework Decision allow for EU Member states to no less then unhinge the entire EU drug prohibition regime by giving them the possibility to define by law what constitutes a right to cultivate and trade cannabis?
The German interpretation of ‘without right’
At first sight this seems far-fetched. Harmonization and coordination in the fight against illicit drug trade is the guiding principle of EU drug policies particularly emphasized in the framework decision. How would a provision foster this goal that provides for every member state to opt out of the prohibitive regime virtually enabling them to legalize every existing drug? Even if this was the intention of the legislator one would have expected some further explanation of such a drastic step. But there is indeed no single word on this matter in the additional material to the Framework Decision. Moreover, this Framework Decision dates back to the early 2000s, a time where cannabis liberalization was more of an exotic idea. Lastly there is the jurisprudence of the ECJ that repeatedly since the Horvarth decision from 1981 has corroborated the solemn exemption of strictly controlled drug trade for medical and scientific purposes.
But what speaks for the interpretation of the German legislator that basically allows for all member states to create their own drug laws? Well, first of all the wording of Article 2(1). While the international treaties tend to speak about ‘authorization’ and ‘licensing’ whenever it comes to drug cultivation for medical or scientific purposes, the framework decision explicitly refers to a ‘right’ to do so. A right, however, a is more than a permission or license. A right can be created by law. If the Framework Decision does not specify any limitations, it seems reasonable that the Member States themselves specify what constitutes the right in question. Moreover, with regards to the international treaties lit 2 only explicitly refers to the European treaties (e.g. the conclusions of Tampere) when it calls for legislative action to tackle illicit drug trafficking. It does not directly mention the important international treaties. Indeed, the Vienna Convention on Psychotropic substances from 1971 containing the important exemption of medical/scientific purposes is mentioned in Art. 1 but only with regards to the definition of drugs. One could deduce from this that the Framework Decision is meant to be a step towards an independent EU drug policy with more latitude than offered by the international conventions. However, the Schengen agreement and also the EU action plans on drugs from 2000 to 2004 leaves no doubt that member states to the international drug control conventions are bound by the limitations for medical and scientific purposes.
In conclusion there seems be the better arguments for a narrow interpretation of the terms ‘without right’ as relating only to scientific and medical purposes. The German legislator interpreted the framework literally, but it is rather unlikely that this will hold up in court. Hence, the German cannabis control bill is based on a very formal yet questionable interpretation of EU law. This leaves the question what the possible consequences of this German way are?
Conclusion
In 2019 the ECJ issued a judgement that shook the German legislator to its bones. In case C-591/17 Republic of Austria vs. Republic of Germany the court decided that the German infrastructure use charge for passengers vehicles entails a discrimination against EU citizens. Germany had passed a bill requiring all passenger vehicles using the German Autobahn to pay a toll. Nothing unusual here. But the clue was that German vehicle owners could claim back the toll through their taxes. The ECJ rightfully considered this clear discrimination on grounds of nationality pursuant to Article 18 TFEU and dismissed the German law. Will the cannabis control law share the same fate? There is a good chance. Just like the infrastructure charge the cannabis control law widely ignores EU law, the ECJ jurisprudence as well as the interest of other EU member states. How, for example, will Germany curb drug tourism to Poland, Austria or Denmark? After years of pressure from the German neighbor the Dutch have linked the sale of cannabis in border towns to a residence permit. The ECJ considered this legal and non-discriminatory for the reason that cannabis is still a prohibited product under Dutch national law. Hence, there cannot be a right for EU citizens to buy this product. But under the German bill cannabis would not be a prohibited anymore. This would also cut of the possibility to restrict the selling of the product only to German residents as this then indeed would be a discrimination according to the ECJ jurisprudence. But how else could Germany then tackle the problem of drug tourism? The bill leaves this issue unresolved.
There exist good reasons for legalizing cannabis: It may help to dry up illegal markets, relieving the criminal justice systems while reducing stigmatization of consumers and potentially minimizes health risks through quality controls. More importantly the gateway drug issue becomes better manageable: Those who buy weed from a dealer are often offered harder drugs as well, often as a free sample. A comprehensive but cautious legalization of cannabis is a reasonable drug policy. However, it must take into account the interests of other member states and be in line with European law. If this law no longer fits in time, one has to change it. Within the EU this is a long and winding road. There are no shortcuts, not even for Germany.
GTI has been a better avg store rev performer for a long time. They are going to "kill-it" on March 1st when they release the ER.
Profitability competition is another story because Tru genuinely has the scaling advantage in Florida. It gives them a great cost-of-goods advantage shared by about 100 stores. They are profitable on lower avg store revenues.
They are also the best social media promoter by far of any publicly held cannabis company.
Now that they've swallowed Harvest Health whole, and continue to increase debt via creative financing, their profits are going to be negatively impacted for a while for the same reasons they were at CVS re Aetna and BUD re Miller.
Both of the later are the biggest their respective industries, but the street punished their PPS's because of the debt.
CVS right now is a great indicator of what's in store for Trulieve down the road once they start paying the debt down and revenues continue to grow. The Street will reward them. CVS is being recognized right now for growing revenues while paying down debt by more than $20B, and in December announcing a dividend increase for the first time in 4 years since they acquired Aetna. The PPS is teetering on a double in less than 12 months.
The same will happen over at Trulieve if they can pay down the debt, bring up the revenues of an unprofitable acquisition and start growing profits again.
Meanwhile, GTI is failing on the company branding. While we are all waiting on cannabis legalization, GTI isn't preparing for the brand marketing. If interstate commerce ends up being permitted, Trulieve will be able to uses their Florida facilities and maybe one other to scale up uniform production faster and more economically. Their efforts now to rebrand their acquisitions will pay huge benefits.
GTI will being playing branding catch-up, if they do it. Who knows, maybe they don't want to.
IMO, they should be doing it now. Be prepared for when legalization occurs.
In the event cannabis advertising is ever allowed like it is for liquor, having the uniform recognizable brand name will be a huge advantage.
Trulieve is doing exactly what GTI should be doing. Every acquisition Trulieve is making comes with the same assets you referred to.
Trulieve is doing the right thing.
So Yes, every acquisition GTI makes should be rebranded as RISE, or whichever single name they want to use going forward. The stores should be remodeled with easily recognizable physical characteristics and name recognition.
Better name recognition is better for investors too and instills customer confidence.
When you are standing in front of a True Value Hardware store, you know exactly what you are walking into, and none of them are shaped and sized the same like the more easily identifiable McDonalds or Olive Garden.
It's name recognition.
As an example, watch what Tilray is doing with branding. Irwin Simon is a branding genius given his history at Hain Celestial Group, Inc. He laid out the blueprint and is copying it at Tilray.
They are buying brands (USA companies) prior to USA cannabis legalization and building those brands for name recognition, and not paying the cannabis premium.
They are introducing new products within those acquisitions with the same names as their Canadian cannabis products so when USA cannabis legalization occurs, all they have to do is infuse the products with THC. The public will already be willing to buy the trusted products.
When cannabis legalization occurs, Trulieve will have hundreds of stores across the country all operating under the Trulieve name.
GTI will own a vast collection of diverse companies selling diverse products since they aren't trying to consolidate their product brands.
They will not have the name recognition synergies.
I own all three of the mentioned companies.
YodaLayHeHoo, Welcome to the board.
YodaLayHeHoo, Do you understand that I am talking about building the company as a brand ala McDonalds is "the-brand". The brand isn't the hamburger. That's a product.
Visit GTI's website here: https://www.gtigrows.com/
and click on retail on the dropdown menu bar.
They bought all of these businesses except RISE. They are not trying to capitalize on a single identifiable company retail name. They operate under 9 different retail names.
Trulieve is rebranding all of their acquisitions to look similar and operate under one retail name. That's the right way to do it.
https://www.gtigrows.com/retail/rise
https://essencevegas.com/
https://www.bluepointwellnessct.com/
https://fpwellnessny.com/
https://www.gtigrows.com/retail/affinity
https://smccri.org/
https://greenstarherb.com/
https://www.soctwellness.com/
https://leaflinelabs.com/
Trulieve beats Green Thumb hands down on Branding. Green Thumb is just stupid about it.
They are being penny-wise and pound foolish.
Dems are in a precarious position right now because they are "down-a-man" in the Senate. Sen. Ben Ray Luján's stroke weakens everything on the agenda.
Lucky for the dems, Michelle Lujan Grisham, Governor of New Mexico, is a dem so if Luján has to step aside, Grisham would undoubtedly appoint a dem until the next election.
While Luján is on "injured reserve" expect nothing Biden wants to get done to happen.
CVS Health to Invest $12.7 Million in Affordable Housing in Nashville
Thursday, February 3, 2022
WOONSOCKET, R.I., Feb. 3, 2022 /PRNewswire/ -- CVS Health today announced it will invest $12.7 million with R4 Capital to build 204 new affordable housing units for individuals and families in the Chestnut Hill neighborhood in Nashville. The investment is part of CVS Health's commitment to address racial inequity and social determinants of health in underserved communities.
https://www.cvshealth.com/news-and-insights/press-releases/cvs-health-to-invest-127-million-in-affordable-housing-in
The 2021 Affordable Housing Task Force Report issued by Mayor John Cooper's office found that an estimated 65,000 households, nearly half of Nashville's renter population, is rent burdened, meaning they spend more than 30% of household income on rent. The housing development, which is named 101 Factory, will support individuals and families earning up to 30% - 70% of Area Median Income and provide them with the resources they need to live healthier and reach their full potential.
"I applaud CVS Health for making such a significant investment in our city's affordable housing portfolio," said Mayor Cooper. "Metro has directed unprecedented levels of funding more than $100M to affordable housing over the past two years, but this work demands private sector partners, too. I hope this investment from CVS Health will spur more companies to join in because we must all work together to address Nashville's affordable housing challenges."
"101 Factory is a welcome addition to the Chestnut Hill neighborhood, and I thank CVS Health and all the partners who came together to make it a reality," said District 17 Councilmember Colby Sledge. "We need creative solutions to create affordable housing, and partnerships like these set a great example for others in the private sector. I will continue to advocate for increased and diverse Metro affordable housing investments, and hope to see more developments like 101 Factory."
CVS Health is working with Elmington Capital Group, LLC to build Factory 101. The new development consisting of three, four-story residential buildings will be located at 101 Factory Street and will provide studio, one-, two- and three-bedroom housing units at a reduced rent to families with demonstrated need. Planned amenities include a community room, a computer lab, fitness facility, on-site property management, a picnic area, a dog park and surface parking.
"CVS Health has been a wonderful partner on this project, and it wouldn't have been possible without them," said Hunter Nelson, Partner at Elmington Capital Group. "Not only were they instrumental in the creation of 101 Factory, but they will also provide invaluable resources for the people and residents who will soon call it home. As Elmington continues to focus on creating more affordable housing across Nashville, we couldn't be more excited about the future of Chestnut Hill."
CVS Health's commitment includes $110,000 to help provide comprehensive health and wellness resources and social services to 101 Factory's future residents based on their specific needs.
"CVS Health is dedicated to providing underserved communities in Nashville with opportunities that can help them live healthier lives," said Jim Bostian, Midsouth Market President, Aetna, a CVS Health company. "Through this affordable housing investment in Chestnut Hill, we're addressing housing insecurities and ensuring local residents have access to resources that can not only improve their overall health and well-being but can help their local community thrive."
In Tennessee, CVS Health has a longstanding commitment to supporting local organizations and initiatives that provide communities with access to health care services, affordable housing, food security, as well as education and economic opportunities. Since 2019, CVS Health has awarded nearly $500K to local organizations, including Cedar-Sinai Medical Center, United Way of Middle Tennessee, Nashville Food Project and the Vanderbilt University Medical Center.
As part of CVS Health's overall commitment to advance health equity in America, it invested $185 million in affordable housing nationwide in 2021 and $1.3 billion over the past 20 years, including $31.4 million dollars in Tennessee. Through these investments, CVS Health has been able to provide underserved communities with quality housing, economic support, and educational training opportunities based on the unique needs of the population.
About CVS Health
CVS Health is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and approximately 300,000 dedicated colleagues including more than 40,000 physicians, pharmacists, nurses, and nurse practitioners. Wherever and whenever people need us, we help them with their health whether that's managing chronic diseases, staying compliant with their medications, or accessing affordable health and wellness services in the most convenient ways. We help people navigate the health care system and their personal health care by improving access, lowering costs and being a trusted partner for every meaningful moment of health. And we do it all with heart, each and every day. Learn more at www.cvshealth.com.
Media contact
Eva Pereira
781-686-4200
PereiraE1@cvshealth.com
SOURCE CVS Health
Green Thumb needs to go to branding school. It bothers me that Trulieve's management understands branding so much better than Green Thumb.
Trulieve acquires dispensaries and rebrands them as Trulieve stores. Green Thumb's acquisitions continue with their disparate brand names. There's no continuity and no reason for customers in one state to know when they are in another state that they can go into "the-same-store".
Trulieve Celebrates Statewide Retail Rebrand in Maryland on February 5
February 2, 2022 at 7:38 AM EST
https://investors.trulieve.com/news-releases/news-release-details/trulieve-celebrates-statewide-retail-rebrand-maryland-february-5
Trulieve's three Maryland medical marijuana dispensaries hosting onsite activations
TALLAHASSEE, Fla., Feb. 2, 2022 /PRNewswire/ -- Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States, is hosting a statewide celebration commemorating the re-branding of its Maryland retail locations, formerly branded as Harvest. On Saturday, Feb. 5, Trulieve invites registered medical marijuana patients and their caregivers to join the celebration at each retail location across the state.
Trulieve will kick off the day of celebrations at 9:00 am with a ribbon-cutting event at its flagship Rockville dispensary located at 12200 Rockville Pike. There will be additional in-store activations including exclusive promotional deals and complimentary branded merchandise at the Halethorpe (3531 Washington Blvd Suite 112-113) and Lutherville (1526 York Road) locations.
"We are honored to provide Maryland's patients with a broad selection of high-quality medical cannabis products at each of our dispensaries across the state," said Kim Rivers, Chief Executive Officer of Trulieve. "Our local teams are committed to delivering approachable and personalized cannabis experiences to the state's growing medical community."
In stores and online, patients will find a wide variety of THC and CBD products including whole flower, pre-rolls, edibles, concentrates, tinctures, topicals, vaporizers, and accessories.
For more information on store events and locations, please visit https://www.trulieve.com/dispensaries/maryland or visit local Facebook and Instagram @Trulieve_MD.
About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S. operating in 11 states, with leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com.
Facebook: @Trulieve
Instagram: @Trulieve
Twitter: @Trulieve
Investor Contact
Christine Hersey, Director of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com
Media Contact
Rob Kremer, Executive Director of Corporate Communications
+1 (404) 218-3077
Robert.Kremer@Trulieve.com
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/trulieve-celebrates-statewide-retail-rebrand-in-maryland-on-february-5-301473458.html
SOURCE Trulieve Cannabis Corp.
Trulieve Celebrates Statewide Retail Rebrand in Maryland on February 5
February 2, 2022 at 7:38 AM EST
https://investors.trulieve.com/news-releases/news-release-details/trulieve-celebrates-statewide-retail-rebrand-maryland-february-5
Trulieve's three Maryland medical marijuana dispensaries hosting onsite activations
TALLAHASSEE, Fla., Feb. 2, 2022 /PRNewswire/ -- Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States, is hosting a statewide celebration commemorating the re-branding of its Maryland retail locations, formerly branded as Harvest. On Saturday, Feb. 5, Trulieve invites registered medical marijuana patients and their caregivers to join the celebration at each retail location across the state.
Trulieve will kick off the day of celebrations at 9:00 am with a ribbon-cutting event at its flagship Rockville dispensary located at 12200 Rockville Pike. There will be additional in-store activations including exclusive promotional deals and complimentary branded merchandise at the Halethorpe (3531 Washington Blvd Suite 112-113) and Lutherville (1526 York Road) locations.
"We are honored to provide Maryland's patients with a broad selection of high-quality medical cannabis products at each of our dispensaries across the state," said Kim Rivers, Chief Executive Officer of Trulieve. "Our local teams are committed to delivering approachable and personalized cannabis experiences to the state's growing medical community."
In stores and online, patients will find a wide variety of THC and CBD products including whole flower, pre-rolls, edibles, concentrates, tinctures, topicals, vaporizers, and accessories.
For more information on store events and locations, please visit https://www.trulieve.com/dispensaries/maryland or visit local Facebook and Instagram @Trulieve_MD.
About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S. operating in 11 states, with leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com.
Facebook: @Trulieve
Instagram: @Trulieve
Twitter: @Trulieve
Investor Contact
Christine Hersey, Director of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com
Media Contact
Rob Kremer, Executive Director of Corporate Communications
+1 (404) 218-3077
Robert.Kremer@Trulieve.com
Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/trulieve-celebrates-statewide-retail-rebrand-in-maryland-on-february-5-301473458.html
SOURCE Trulieve Cannabis Corp.
Thanks. I think this little puppy will grow up to be one of the top dogs.
INDIVA ANNOUNCES GRANT OF RESTRICTED SHARE UNITS
13 hours ago
https://stockhouse.com/news/press-releases/2022/02/02/indiva-announces-grant-of-restricted-share-units
LONDON, ON, Feb. 2, 2022 /CNW/ - Indiva Limited (the "Company" or "Indiva") (TSXV: NDVA) (OTCQX: NDVAF), the leading Canadian producer of cannabis edibles and other cannabis products, is pleased to announce that its Board of Directors has approved the grant of an aggregate of 2,049,997 restricted share units ("RSUs") to certain directors and officers of the Company pursuant to its amended and restated omnibus incentive plan approved by shareholders on June 24, 2021 (the "Plan").
All of the RSUs will vest immediately. Each vested RSU entitles the holder to receive a cash payment equal to the closing price of the common shares of the Company on the last trading date prior to the vesting date, or at the discretion of the Board of Directors, one common share of the Company or any combination of cash and common shares.
Indiva Limited (CNW Group/Indiva Limited)
The aggregate number of common shares of the Company that may be reserved for issuance pursuant to RSUs granted under the Plan is 2,500,000. After this issuance of the RSUs to the directors and officers and certain other issuances to employees of the Company, there are 239,503 RSUs available for future grants under the Plan.
ABOUT INDIVA
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva produces and distributes award-winning cannabis products nationally, including Bhang® Chocolate, Wana™ Sour Gummies, Slow Ride Bakery Cookies, Jewels Chewable Tablets, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Grön edibles, as well as capsules, pre-rolls and premium flower under the INDIVA and Artisan Batch brands. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
DISCLAIMER & READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the Transaction and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's future operations, future results, future product offerings and compliance with applicable regulations. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to maintain the necessary regulatory and other third parties' approvals and licensing and other risks associated with regulated entities in the cannabis industry. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
SOURCE Indiva Limited
Does Tilray get any money out of this?--->>> MedMen Extends Maturity Date of Commercial Loan Agreement
02/02/2022
https://investors.medmen.com/press-releases/press-release-details/2022/MedMen-Extends-Maturity-Date-of-Commercial-Loan-Agreement/default.aspx
LOS ANGELES--(BUSINESS WIRE)-- MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF), a premier American cannabis retailer, today announced that it has extended the maturity date of the term loans (the “Term Loans”) and made certain other amendments (collectively, the “Amendments”) to its Commercial Loan Agreement, of an aggregate outstanding principal balance of approximately US$114.3 million, dated as of October 1, 2018 (as amended and/or otherwise modified, the “Commercial Loan Agreement”) entered into by its subsidiary MM CAN USA, Inc.
The Amendments extend the stated maturity date of the Term Loans for a period of six months and provide that certain definitive documentation with respect to the conditional purchase of the Term Loans by a note holder under the Company’s Senior Secured Convertible Securities Purchase Agreement dated August 17, 2021 must be entered within 45 days or the stated maturity date of the Term Loans become due.
“MedMen will utilize this six-month grace period to realize fair value for significant assets that are no longer core to our market strategy,” said Michael Serruya, Chief Executive Officer. “We have a longstanding relationship with our lenders and appreciate their support as we execute against an evolved business plan.”
Amendments to the Term Loans
The Company will prepay US$20.0 million on the Term Loans and pay a fee of US$1.0 million to the lenders in consideration of the Amendments, which fee will be paid in Class B Subordinate Voting Shares (“Shares”) at a price of US$0.12447 (C$0.15825) for a total of 8,021,593 Shares (the “Fee Shares”), with any difference in realized net proceeds that is less than US$1.0 million from the sale of the Fee Shares during a 30-day period, to the extent such Fee Shares are sold, reimbursed in cash. The Amendments require that the Company make a mandatory prepayment in the event of the sale of certain assets. Also, covenants related to strategic actions MedMen must implement if it is unable to pay the Term Loan by the extended maturity date.
The issuance of the Fee Shares as part of the Amendments triggered the right of holders of convertible notes under the Convertible Securities Purchase Agreement to be issued warrants in order to maintain their pro rata ownership interest (on a partially diluted basis) in the Shares. A total of 6,682,567 warrants (the “Top-up Warrants”), each entitling the holder to purchase one Share at a purchase price of US$0.1615 (C$0.205) will be issued to the holders of convertible notes under the Convertible Securities Purchase Agreement.
Pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”), the issuance of the Top-Up Warrants constitutes a “related party transaction” to the extent that the relevant holder of convertible notes under the Convertible Securities Purchase Agreement is an insider of the Company. The Company is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101, specifically: (i) the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(b), as the Shares are not listed on a market specified in MI 61-101, and (ii) the minority shareholder approval requirement of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(a) of MI 61- 101, as the fair market value of the Top-up Warrants being issued does not exceed 25% of the Company’s market capitalization (as determined under MI 61-101). A material change report is not expected to be filed by the Company 21 days before the issuance of the Top-up Warrants as the details of the Amendments were only agreed as of February 1, 2022. In the view of the Company, this was reasonable in the circumstances because the Term Loans were due to mature on January 31, 2022.
ABOUT MEDMEN:
MedMen is a premier American cannabis retailer with an operational footprint in California, Nevada, Illinois, Arizona, Massachusetts, and Florida. MedMen offers a robust selection of high-quality products, including MedMen-owned brands MedMen Red and LuxLyte through its premium retail stores, proprietary delivery service, as well as curbside and in-store pickup. MedMen Buds, an industry-first loyalty program, provides exclusive access to promotions, product drops and content. MedMen believes that a world where cannabis is legal and regulated is safer, healthier, and happier. Learn more about MedMen at www.medmen.com.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of federal securities laws, including the Private Securities Litigation Reform Act of 1995 and forward - looking information withing the meaning of Canadian securities laws (each referred to as "forward-looking statements"). Forward-looking statements are predictions based on expectations and projections about future events and are not statements of historical fact. You can identify forward-looking statements by the use of forward-looking terminology such as "plan," "continue," "expect," "anticipate," "intend," "predict," “believe,” "project," "estimate," "likely," "believe," "might," "seek," "may," "will," "remain," "potential," "can," "should," "could," "future", “is positioned” and similar expressions, or the negative of those expressions, or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. You can also identify forward-looking statements by discussions of MedMen’s strategic initiatives, including productivity and synergies initiatives, sales of assets, our future performance and results of operations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, levels of activity, performance or achievements of MedMen, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements, and you should not rely on them as predictions of future events. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise and may not be able to be realized. We do not guarantee that the transactions and events described will happen as described (or that they will happen at all). Forward-looking statements include statements regarding intentions, beliefs, projections, outlook, analyses, or current expectations for the MedMen business. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Many factors could cause actual results, performance or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to MedMen, as applicable, or that MedMen, deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. The forward-looking statements included in this communication are made as of the date of this communication and MedMen does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
A variety of factors, including known and unknown risks, many of which are beyond the control of MedMen, could cause actual results to differ materially from the forward-looking statements in this press release and other reports filed with, or furnished to, the SEC and other regulatory agencies by MedMen and made by the directors, officers, other employees, and other persons authorized to speak on behalf of MedMen. Such factors include, without limitation: (i) management’s perceptions of historical trends, current conditions and expected future developments; (ii) the ability to effectively manage growth, including anticipated and unanticipated costs; (iii) achieving the anticipated results of MedMen's strategic plans; (iv) the adequacy of the Company’s capital resources and liquidity, including but not limited to, availability of sufficient cash flow to successfully execute its growth strategies (either within the expected timeframe or at all); (v) the ability to raise necessary or desired funds to achieve its strategic business plans; (vi) obtaining and maintaining all required licenses, approvals and permits; (vii) favorable production levels and sustainable costs; (viii) inputs, suppliers and skilled labor being unavailable or available only at uneconomic costs; (ix) adverse future legislative and regulatory developments involving medical and recreational marijuana; (x) consumer interest in the Company’s respective products and products of other brands that MedMen may offer in its stores; (xi) competition; (xii) government regulation of the Company’s activities and products including, but not limited, to the areas of taxation and environmental protection; (xiii) the risks of operating or investing in the marijuana industry in the United States; (xiv) the outcome of any claims, litigation and proceedings of which the Company is a party, including any settlements of litigation or pending regulatory or government investigations or actions or other legal contingencies; (xv) the Company’s ability to conduct operations in a safe, efficient and effective manner; (xvi) changes in general economic, business and political conditions in which the Company operates, including changes in the financial markets; (xvii) changes in applicable laws generally and (xviii) and those other risk factors discussed in MedMen’s Annual Report on Form 10-K, and other continuous disclosure filings, all available under either at www.sec.gov or www.sedar.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220202005418/en/
MedMen Media Contact:
Lisa Weser
MedMen@Trailblaze.co
MedMen Investor Relations Contact:
Investors@MedMen.com
MedMen Officer Contact:
Reece Fulgham
855-292-8399
Source: MedMen Enterprises Inc.
MedMen Extends Maturity Date of Commercial Loan Agreement
02/02/2022
https://investors.medmen.com/press-releases/press-release-details/2022/MedMen-Extends-Maturity-Date-of-Commercial-Loan-Agreement/default.aspx
LOS ANGELES--(BUSINESS WIRE)-- MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF), a premier American cannabis retailer, today announced that it has extended the maturity date of the term loans (the “Term Loans”) and made certain other amendments (collectively, the “Amendments”) to its Commercial Loan Agreement, of an aggregate outstanding principal balance of approximately US$114.3 million, dated as of October 1, 2018 (as amended and/or otherwise modified, the “Commercial Loan Agreement”) entered into by its subsidiary MM CAN USA, Inc.
The Amendments extend the stated maturity date of the Term Loans for a period of six months and provide that certain definitive documentation with respect to the conditional purchase of the Term Loans by a note holder under the Company’s Senior Secured Convertible Securities Purchase Agreement dated August 17, 2021 must be entered within 45 days or the stated maturity date of the Term Loans become due.
“MedMen will utilize this six-month grace period to realize fair value for significant assets that are no longer core to our market strategy,” said Michael Serruya, Chief Executive Officer. “We have a longstanding relationship with our lenders and appreciate their support as we execute against an evolved business plan.”
Amendments to the Term Loans
The Company will prepay US$20.0 million on the Term Loans and pay a fee of US$1.0 million to the lenders in consideration of the Amendments, which fee will be paid in Class B Subordinate Voting Shares (“Shares”) at a price of US$0.12447 (C$0.15825) for a total of 8,021,593 Shares (the “Fee Shares”), with any difference in realized net proceeds that is less than US$1.0 million from the sale of the Fee Shares during a 30-day period, to the extent such Fee Shares are sold, reimbursed in cash. The Amendments require that the Company make a mandatory prepayment in the event of the sale of certain assets. Also, covenants related to strategic actions MedMen must implement if it is unable to pay the Term Loan by the extended maturity date.
The issuance of the Fee Shares as part of the Amendments triggered the right of holders of convertible notes under the Convertible Securities Purchase Agreement to be issued warrants in order to maintain their pro rata ownership interest (on a partially diluted basis) in the Shares. A total of 6,682,567 warrants (the “Top-up Warrants”), each entitling the holder to purchase one Share at a purchase price of US$0.1615 (C$0.205) will be issued to the holders of convertible notes under the Convertible Securities Purchase Agreement.
Pursuant to Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”), the issuance of the Top-Up Warrants constitutes a “related party transaction” to the extent that the relevant holder of convertible notes under the Convertible Securities Purchase Agreement is an insider of the Company. The Company is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101, specifically: (i) the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(b), as the Shares are not listed on a market specified in MI 61-101, and (ii) the minority shareholder approval requirement of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(a) of MI 61- 101, as the fair market value of the Top-up Warrants being issued does not exceed 25% of the Company’s market capitalization (as determined under MI 61-101). A material change report is not expected to be filed by the Company 21 days before the issuance of the Top-up Warrants as the details of the Amendments were only agreed as of February 1, 2022. In the view of the Company, this was reasonable in the circumstances because the Term Loans were due to mature on January 31, 2022.
ABOUT MEDMEN:
MedMen is a premier American cannabis retailer with an operational footprint in California, Nevada, Illinois, Arizona, Massachusetts, and Florida. MedMen offers a robust selection of high-quality products, including MedMen-owned brands MedMen Red and LuxLyte through its premium retail stores, proprietary delivery service, as well as curbside and in-store pickup. MedMen Buds, an industry-first loyalty program, provides exclusive access to promotions, product drops and content. MedMen believes that a world where cannabis is legal and regulated is safer, healthier, and happier. Learn more about MedMen at www.medmen.com.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of federal securities laws, including the Private Securities Litigation Reform Act of 1995 and forward - looking information withing the meaning of Canadian securities laws (each referred to as "forward-looking statements"). Forward-looking statements are predictions based on expectations and projections about future events and are not statements of historical fact. You can identify forward-looking statements by the use of forward-looking terminology such as "plan," "continue," "expect," "anticipate," "intend," "predict," “believe,” "project," "estimate," "likely," "believe," "might," "seek," "may," "will," "remain," "potential," "can," "should," "could," "future", “is positioned” and similar expressions, or the negative of those expressions, or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. You can also identify forward-looking statements by discussions of MedMen’s strategic initiatives, including productivity and synergies initiatives, sales of assets, our future performance and results of operations.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, levels of activity, performance or achievements of MedMen, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements, and you should not rely on them as predictions of future events. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise and may not be able to be realized. We do not guarantee that the transactions and events described will happen as described (or that they will happen at all). Forward-looking statements include statements regarding intentions, beliefs, projections, outlook, analyses, or current expectations for the MedMen business. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Many factors could cause actual results, performance or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to MedMen, as applicable, or that MedMen, deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. The forward-looking statements included in this communication are made as of the date of this communication and MedMen does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.
A variety of factors, including known and unknown risks, many of which are beyond the control of MedMen, could cause actual results to differ materially from the forward-looking statements in this press release and other reports filed with, or furnished to, the SEC and other regulatory agencies by MedMen and made by the directors, officers, other employees, and other persons authorized to speak on behalf of MedMen. Such factors include, without limitation: (i) management’s perceptions of historical trends, current conditions and expected future developments; (ii) the ability to effectively manage growth, including anticipated and unanticipated costs; (iii) achieving the anticipated results of MedMen's strategic plans; (iv) the adequacy of the Company’s capital resources and liquidity, including but not limited to, availability of sufficient cash flow to successfully execute its growth strategies (either within the expected timeframe or at all); (v) the ability to raise necessary or desired funds to achieve its strategic business plans; (vi) obtaining and maintaining all required licenses, approvals and permits; (vii) favorable production levels and sustainable costs; (viii) inputs, suppliers and skilled labor being unavailable or available only at uneconomic costs; (ix) adverse future legislative and regulatory developments involving medical and recreational marijuana; (x) consumer interest in the Company’s respective products and products of other brands that MedMen may offer in its stores; (xi) competition; (xii) government regulation of the Company’s activities and products including, but not limited, to the areas of taxation and environmental protection; (xiii) the risks of operating or investing in the marijuana industry in the United States; (xiv) the outcome of any claims, litigation and proceedings of which the Company is a party, including any settlements of litigation or pending regulatory or government investigations or actions or other legal contingencies; (xv) the Company’s ability to conduct operations in a safe, efficient and effective manner; (xvi) changes in general economic, business and political conditions in which the Company operates, including changes in the financial markets; (xvii) changes in applicable laws generally and (xviii) and those other risk factors discussed in MedMen’s Annual Report on Form 10-K, and other continuous disclosure filings, all available under either at www.sec.gov or www.sedar.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220202005418/en/
MedMen Media Contact:
Lisa Weser
MedMen@Trailblaze.co
MedMen Investor Relations Contact:
Investors@MedMen.com
MedMen Officer Contact:
Reece Fulgham
855-292-8399
Source: MedMen Enterprises Inc.
Fire & Flower is trading at a discount, says ATB Capital
By Jayson MacLean Published on February 1, 2022 Last Updated on February 1, 2022
A number of Canadian cannabis companies have their sights set on the expansive market in the United States and are now waiting in anticipation of a shift towards legalization at the US federal level. That includes tech-enabled Canadian retailer Fire & Flower (Fire & Flower Stock Quote, Charts, News, Analysts, Financials TSX:FAF) which just announced new plans for entering the US market. Giving the strategy the once-over is ATB Capital Markets analyst Frederico Gomes who in an update to clients on Monday said the stock is looking attractive at current levels.
On the announcement, made on Monday, FAF said it has amended its option and licensing agreement with private company Fire & Flower US Holdings (formerly American Acres Managers) so that now it will receive a one-time implementation fee and ongoing software and support fees for each FAF-branded store operated by Fire & Flower US, giving FAF the option to acquire the licensee with a discount to fair-market value if and when regulations in the US allow. FAF will pay the shareholders of the Licensee an aggregate amount of US$5 million with the option remaining to pay additional cash amounts which along with a one per cent premium calculated monthly would be deducted from the fair-market value purchase price payable upon exercise of the option by FAF.
“The amendments to our strategic agreements with Fire & Flower US expand the ability for the Fire & Flower and Hifyre brands to open in key markets ahead of federal permissibility of adult-use cannabis in the US. In addition, the technology, software and support fees create an additional high margin revenue channel in our digital business segment,” said Trevor Fencott, CEO of Fire & Flower, in a press release.
FAF, which runs the Hifyre digital retail and analytics platform, says the move into the States will get a leg up through its partnership with strategic investor Alimentation Couche-Tard, owners of Circle K convenience stores throughout Canada and the US.
“The amended strategic agreements, along with our relationship with the owner of Circle K, Alimentation Couche-Tard, will help position Fire & Flower to one day be a key player in the US cannabis industry, where the demand for incorporating technologically advanced systems has never been greater,” said Fencott. “We believe the amendments to the strategic agreement provide a meaningful near and long-term benefit to Fire & Flower shareholders in our option to acquire Fire & Flower US.”
Looking at the amended agreement, Gomes said it allows FAF to put into motion its strategy to enter the US THC market before positive regulatory developments take place.
“In our view, FAF is especially well positioned to take advantage of the US THC market opportunity through its strategic partnership with Alimentation Couche-Tard, which has a strong foothold in the US through Circle K convenience stores,” Gomes wrote.
Fire & Flower’s share price has been falling steadily over the past 12 months along with the rest of the cannabis sector, shedding about 65 per cent of its value since the highs of last February.
But Gomes is bullish on the stock and with the update has maintained his “Outperform” rating and one-year price target of $15.00, which at the time of publication represented a projected return of 236 per cent.
“We note that FAF is currently trading at a FY2022e EV/Sales of 0.7x which, in our view, offers a discount to the value of Company’s retail operations in Canada and does not price in the value of Hifyre and the option to potentially enter the US THC market,” Gomes wrote.
“Hifyre is an attractive segment hidden inside FAF. As digital sales continue to grow, we believe that the attractiveness and value of this segment as a standalone tech platform will become more apparent to investors. Moreover, we believe that the value of a potential US expansion is not priced into FAF’s current share price, therefore presenting an attractive upside for investors,” he said.
By the numbers, Gomes is forecasting for FAF to generate fiscal 2021 (year end January 28) revenue of $172.8 million compared to $128.1 million delivered in fiscal 2020. On adjusted EBITDA he is calling for fiscal 2021 earnings of $4.4 million compared to a loss of $1.0 million in fiscal 2020. For the upcoming fiscal 2022, Gomes has forecasted $206.7 million in net sales and $11.9 million in adjusted EBITDA. The analyst sees FAF’s adjusted gross margin staying steady across fiscal 2020, 2021 and 2022 at 35 per cent.
Last week, Fire & Flower announced the completion of its acquisition of logistics company Pineapple Express Delivery, the largest player in the cannabis delivery industry with operations for cannabis delivery in Ontario, Manitoba and Saskatchewan and for liquor products in Saskatchewan.
“The acquisition of Pineapple Express Delivery provides Fire & Flower with the final component to execute upon its strategy of offering a full consumer technology platform to the cannabis industry,” Fire & Flower said in a January 25 press release.
About The Author / Jayson MacLean
Jayson is a writer, researcher and educator with a PhD in political philosophy from the University of Ottawa. His interests range from bioethics and innovations in the health sciences to governance, social justice and the history of ideas.
Fire & Flower is trading at a discount, says ATB Capital
By Jayson MacLean Published on February 1, 2022 Last Updated on February 1, 2022
THE VALENS COMPANY ANNOUNCES INTEGRATION INITIATIVE AFTER ACQUISITIVE 2021