Saturday, May 11, 2019 11:27:46 AM
"As we saw from the Garden State and Empire State, even so-called sure things can fall apart. While the pathway to legalization looks clear now, the bill will undoubtedly face opposition. But should Illinois become the 11th state to OK adult-use marijuana, there would be quite a few happy campers in the cannabis industry.
For starters, MedMen Enterprises (NASDAQOTH: MMNFF) would be doing the happy dance. Although the upscale, vertically integrated dispensary operator has but one open location in Oak Park, it would make MedMen's $682 million all-stock deal to buy privately held PharmaCann look all the sweeter. You see, PharmaCann was initially awarded six medical marijuana licenses in Illinois, which was tops in the state at the time of the award. It has four open dispensaries that serve about 80% of the Chicagoland market, and it has two relatively local production facilities. With the infrastructure already in place, MedMen would simply need to apply for a recreational license, or amend its existing medical pot licenses, to get a piece of what could be a multibillion-dollar market".
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