June 15 2021,



MSO Columbia Care said it would acquire venerable Colorado operator Medicine Man Denver for $42M in cash and stock.

  • The deal will enlarge New York-based Columbia Care's position in the country's second largest market. Last year the company completed its acquisition of Colorado-based retailer The Green Solution.
  • Columbia Care said the deal would be "immediately accretive." For Q1, the acquisitive company posted revenue of $86M and a net loss of $15.3M. 
  • The announcement comes soon after Columbia Care rival Curaleaf acquired Colorado outdoor grower Los Suenos.  
  • Medicine Man's consulting arm, Medicine Man Technologies previously ended its relationship with Medicine Man and rebranded as Colorado operator Schwazze.

RELATED: In a tight jobs market, cannabis companies are scrambling to hire hourly employees.

Quick Hits

  1. Within a few weeks, Las Vegas "dispensary complex" Planet 13 is opening what it says will be the largest pot shop in California, in Orange County. It will feature "plenty of shareable Instagram moments, from colorful umbrellas on the ceiling to a large LED waterfall wall and a giant red octopus in the center of the store." 
    Spectrum News
  2. CBD company Charlotte's Web named a former Molson-Coors exec CFO.

In The Fresh Toast, Mike Adams argues that Sen. Majority Leader Chuck Schumer (D-N.Y.) doesn't have the votes to legalize federally:

"The U.S. Senate is now split 50-50 with Vice President Kamala Harris as the tiebreaker. All that was left to do is draft a weed bill, and Americans would live happily ever after. Well, five months ago, Schumer and two other Senators came forward to proclaim how cannabis reform was going to be a priority in the upper chamber. Since then, the nation hasn’t witnessed any action. The main reason, presumably, is because Senator Schumer knows that trying to pass a cannabis reform bill right now will end in failure."

Read the whole thing.

Meanwhile, to commemorate 50 years since President Richard Nixon declared the war on drugs, two House Democrats introduced a bill to decriminalize all drugs.

Quick Hit

  1. Activist/entrepreneur Andrew DeAngelo asks if pot can transcend polarization and save America.

An NFL doctor is sounding the alarm about possible risks associated with CBD use. The league also says it wants to see more studies about cannabis and fitness.

  • A league doctor who co-chairs a panel on pain management said he was concerned about "the purity and potency of cannabis products, as well as potential interactions with other drugs that players take. There’s also concern that the high doses of cannabis products needed to treat pain can cause liver damage."
  • Numerous athletes, including former NFL players, have endorsed CBD products.

Quick Hit

  1. Insider investigates the world of "Pelostoners," who like to ride high.
IN THE NEWS — 6/16/21

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