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Schwazze buying Denver marijuana shop from Standing Akimbo for $10.5 million

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Colorado-based cannabis company Schwazze signed a $10.5 million deal to acquire a Denver medical marijuana dispensary from Standing Akimbo.

The deal for “certain assets of Standing Akimbo,” including the dispensary, will be satisfied by $1 million in cash, $5.54 million in Schwazze stock and $4 million in deferred cash payments, according to a news release.

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Schwazze – a vertically integrated company – described the acquisition as part of a “concerted effort to expand operations in Colorado’s $200M+ medical cannabis market.”

“As part of the Standing Akimbo acquisition, Schwazze plans to open a Colorado Springs medical dispensary acquired in 2022 under the Standing Akimbo banner,” Schwazze said in its release.

The deal is expected to close in the third quarter of this year, subject to regulatory and license approvals.

Upon closing, Schwazze said it would have 26 operating Colorado stores, excluding “two additional Smokey’s dispensaries previously

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Martha’s Vineyard cannabis operator Fine Fettle poised for sale

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Massachusetts-based Black Harbor Group is positioned to purchase Fine Fettle, a licensed cannabis cultivator and manufacturer located on Martha’s Vineyard in West Tisbury, Massachusetts.

The Select Board of West Tisbury unanimously approved the change of ownership for Fine Fettle, which earlier this year announced it would permanently close “no later than September,” according to the Vineyard Gazette.

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The Select Board of West Tisbury agreed to the transfer of ownership with the stipulation that Fine Fettle address lighting concerns within six months, the Gazette reported.

Black Harbor Group, which was represented by an attorney at the Select Board meeting, was registered as a limited liability company in July, according to public records.

Fine Fettle’s closure earlier this year prompted a lawsuit that led

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‘Secretive’ Wyoming companies win Missouri marijuana social equity licenses

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Applicants for adult-use marijuana social equity business licenses in Missouri are crying foul after it was revealed that nearly half the licenses awarded in the Kansas City area went to companies registered out of state.

According to The Kansas City Star, “secretive” limited liability companies registered in Wyoming won microbusiness permits over local, Black-owned operators.

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Wyoming state law shields ownership information from being publicly disclosed.

Not Missouri’s first social equity controversy

This is only the latest round of controversy for adult-use social equity licensing in Missouri, where voters legalized recreational cannabis in November 2022.

Adult-use sales launched the following year at existing medical marijuana dispensaries.

This past March, Missouri regulators revoked nine of 48 social equity permits awarded in an initial round after

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Missouri cannabis regulators recall 23,000 marijuana products

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Missouri cannabis regulators recalled more than 23,000 marijuana products from several brands on Tuesday, saying they were not properly tested by Fulton, Missouri-based lab ClearWater Science.

The Missouri Division of Cannabis Regulation (DCR) said it recalled the products because they were not “compliantly” tested, so the agency could not verify whether they meet state health and safety requirements.

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The DCR said it hasn’t received any reports of adverse effects; people who believe they might be having an adverse reaction should seek medical attention.

Patients and consumers should stop using the recalled products and either dispose of them or return them to the dispensary where they were purchased.

About a month ago, the DCR issued a series of recalls for more than 132,000

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