Connect with us

breaking news

Cresco Labs’ acquisition of Columbia Care pushed back to June

Published

on


MJ Biz reports

Marijuana multistate operators Columbia Care and Cresco Labs have “mutually agreed” to extend the companies’ acquisition closing date timeline from March 31 to June 30 of this year.

It’s the second such extension, which underscores the complexities of closing a large deal at a time when other acquisitions have been called off amid widespread layoffs and tight funding in the cannabis industry.

According to a news release, the extension will give Cresco and Columbia Care time to finalize asset divestiture agreements necessary to close the merger and obtain approvals from regulatory bodies.

Chicago-based Cresco Labs’ acquisition of Columbia Care, valued at approximately $2 billion last March, is contingent on both companies selling off a number of assets.

The megadeal initially had been scheduled to close in December 2022.

That date was postponed until March, raising questions about whether the merger would indeed close. The latest delay is sure to fuel added speculation.

Many of the companies’ assets are slated to be sold to rapper and business mogul Sean ‘Diddy’ Combs, who plans to create the first Black-owned multistate cannabis operator in the United States.

Assets in Florida, Maryland and Ohio still need to be sold to close the merger.

“We continue to make meaningful progress on the remaining divestitures and look forward to making those announcements,” Nicholas Vita, CEO of New York-based Columbia Care, said in a statement.

Read the full report at 

https://mjbizdaily.com/marijuana-mso-cresco-labs-acquisition-of-columbia-care-pushed-to-june/?utm_medium=email&utm_source=newsletter&utm_campaign=MJD_20230228_NEWS_Daily



Source link

Continue Reading

breaking news

Latina woman alleges she was denied job with cannabis nonprofit because she’s not Black

Published

on

By


A Latina from Lawndale is suing an organization that bills itself as fighting for “cannabis justice” with a goal to “heal the legacy of racism in America,” alleging she was told she was not chosen for a position with the nonprofit in 2023 because she is not Black.

Briseida Lupercio Chavez’s Los Angeles Superior Court lawsuit against the Hood Incubator alleges racial discrimination, retaliation and wrongful failure to hire in violation of public policy. She seeks unspecified compensatory and punitive damages.

A Hood Incubator representative did not immediately reply to a request for comment on the suit brought Jan. 5.

According to the suit, the Hood Incubator’s website states its purpose is to fight for “cannabis justice” and to “heal the legacy of racism in America . . . for the health and prosperity” of everyone.

“However, despite its stated vision of being an anti-racist organization, its blatantly discriminatory hiring practices could not be more contradictory to its stated purpose,” the suit states.

Chavez interviewed for a position with the Hood Incubator via Zoom last July with two organization representatives, one of whom is a managing agent, the suit states. The two representatives remained on the Zoom call after the interview and spent 10 minutes talking about why they were  not interested in hiring Chavez because she is not Black, the suit states.

Both representatives mocked Chavez’s race and for saying she had biracial children, telling the plaintiff they found her comments “off- putting” and falsely implying that she only claims to care about Black people because she has Black kids and friends,” according to the suit.

One of the representatives told Chavez that because she is a Latina, she is used to the Latino community “pulling strings for each other,” the suit states.

Chavez was “embarrassed, ashamed, emotionally broken and in financial desperation” after learning that she was not hired allegedly due to her race, national origin and/or color,” the suit states.

Latina woman alleges she was denied job with cannabis nonprofit because she’s not Black

 



Source link

Continue Reading

breaking news

Man allegedly killed roommate, went back to sleep and bought some cannabis before others implored him to call 911

Published

on

By


It is, of course, a law & crime story..

A Maryland man insisted that he shot his roommate in self-defense, but admitted he only called 911 after going back to sleep, buying some marijuana, and communicating with people who implored him to contact authorities, according to court documents obtained by Washington, D.C., NBC affiliate WRC and Fox affiliate WTTG.

Richard Bennaugh, 38, is charged with manslaughter, assault in the first degree, assault in the second degree, and possession of a firearm as someone convicted of a violent felony, show from Prince George’s County show.

Read more

‘There’s only one way to find out’: Man allegedly killed roommate, went back to sleep and bought some weed before others implored him to call 911



Source link

Continue Reading

breaking news

Illegal immigrant cannabis farmer, 30, is allowed to remain in Britain – because being sent back to Serbia would breach his human rights

Published

on

By


The Daily Mail get over excited once again…

A migrant who was jailed over a cannabis farm worth half a million pounds has been granted permission to stay in the UK after successfully arguing he could not be deported as he no longer spoke his native language.

Clirim Kukaj, 30, is ethnically Albanian but was born and brought up in Serbia until at the age of 13 he entered Britain illegally. Seven years later he was granted indefinite leave to remain.

Kukaj and his lawyers have now successfully appealed his deportation on the grounds that returning him to his native country would be a breach of his human rights because he cannot speak the language and can only converse in Albanian.

Immigrational tribunal judge Fiona Lindsley granted the appeal ‘on human rights grounds’, however, the decision has sparked renewed calls for human rights laws to be reconsidered.

A senior Conservative MP told the Telegraph: ‘This demonstrates why we need urgent reform of the asylum system and human rights laws to allow the rapid and effective deportation of dangerous criminals.’

More Blah here

https://www.dailymail.co.uk/news/article-12941079/Migrant-cannabis-farmer-allowed-remain-Britain-human-right-no-longer-speak-language.html



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media