MedMen exits Florida in $83M deal

Green Sentry is associated with Brady Cobb, a lawyer and entrepreneur who previously sold Bluma Wellness to MSO Cresco Labs for $213M.
As part of the transaction MedMen will license its trademarks in the state for two years.
Cobb is presumably aware that last year MedMen sold a controlling stake in its New York business, another up and coming market, and that sale is now being litigated.
The deal is expected to close in Q2.

CURALEAF: WE'RE NOT RUSSIAN

MSO Curaleaf, one of the largest cannabis companies in the world, moved to quash rumors that it could be sanctioned because of its executives’ ties to Russia.
MarketWatch

Following Russia’s invasion of Ukraine, the company released a statement that its chairman and largest shareholder CEO Boris Jordan is American born and has only held American citizenship.
In 2007, Jordan wrote an essay for the Washington Post explaining why Russians supported President Vladimir Putin.
Second largest shareholder Andrei Blokh is a U.S. citizen who also holds a Russian passport, the company said. It says he is “not active” in the company.

Related:

Jackie Bryant talked to AskGrowers, a Ukraine-based cannabis site, about life during war time.
Forbes

QUICK HITS

Federal:

President Biden’s U.S. Supreme Court nominee Ketanji Brown Jackson has a thin record on cannabis reform. Here’s what Leafly found.

Business:

New Cannabis Ventures‘ American Cannabis Operator Index broke an eleven month losing streak in February.
Nevada retailer Thrive Cannabis Marketplace filed an ethics complaint against a Clark County (Las Vegas) commissioner who has raised questions about how Thrive “breezed through licensing hurdles” to secure a dispensary location just off the Strip.
Las Vegas Review Journal
Muse by Clio talked to Ronit Pinto publisher and founder of Honeysuckle Media.
The Green Entrepreneur podcast talked to Chris Ball, pro-football player turned cannabis prisoner turned CEO of SoCal operator Ball Family Farms.

State news:

The big Michigan recall in November has operating questioning the testing system’s integrity.
Without a statewide rescue, numerous California locations are cutting pot taxes to help businesses.
MJBiz
New Jersey regulators have been dogged by discrimination and fraud allegations.
NJ.com
Oklahoma MED businesses have three months to comply with the state’s new seed-to-sale tracking system.
The Oklahoman
Local police busted an unlicensed pot shop near Buffalo, N.Y. for “gifting.”
ABC
In Colorado, there’s a push to quasi-legalize certain psychedelics on the November ballot.
Colorado Sun
More than 40 Vermont towns vote in town meetings today on whether to allow pot shops.
VTDigger
Washington state sales surged 43% during the pandemic.
The Maryland House voted to put REC on the November ballot.
Fox 5 (Local)
Arizona did $1.35B in sales in REC’s first year.
NBC12
Ohio’s MED market topped $381M in 2021 sales.
Crain’s Cleveland Business

Health and Science:

A study found college students who use cannabis show more motivation than non-users.
Marijuana Moment

Fun and interesting:

The NCAA relaxed how much THC is needed to pop a dirty test and is recommending less stringent penalties.
NBC
Rapper 2 Chainz joked about taking a tolerance break on February 29-31. @ngaio420 encouraged everyone to join.
HNHH

COMPANY MILESTONES

MSO PharmaCann completed its previously announced acquisition of Colorado operator LivWell. The Chicago-based company now has more than 50 dispensaries across eight states.
MED-tech company Veriheal acquired MarijuanaDoctors.com for $3M.