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Marijuana operator Vext Science to acquire 2 Ohio dispensaries, raise $10M

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Arizona-based vertically integrated marijuana operator Vext Science has agreed to acquire two Ohio medical cannabis dispensaries for $9.8 million and plans to raise $10 million in a private placement of common shares.

Under terms of the agreement, announced Monday, Vext is acquiring from Big Perm’s Dispensary Ohio the two MMJ stores, a Tier I cultivation facility and a manufacturing facility, according to a news release.

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The acquisition comes ahead of Ohio’s November vote on adult-use legalization.

Vext anticipates that senior management and its board of directors will buy more than 60% of the non-brokered private placement of common shares.

“The addition of two dispensaries to our growing vertical footprint in Ohio represents a critical step toward achieving scale and ensuring long-term returns on capital in this attractive growth market,” Vext CEO Eric Offenberger said in a statement.

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President Trump will decide marijuana rescheduling, federal reform

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Did Donald Trump mean it when he said he wanted marijuana reform – and will the former and current president follow through?

With the marijuana rescheduling process paused indefinitely – its future is at the mercy of Trump’s future choice to lead the U.S. Drug Enforcement Administration – and Republicans in Congress mostly bent to the once and current president’s will, nothing less than the future of the $32 billion marijuana industry depends on the answer.

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Trump made history in September when he became the first major-party presidential nominee to endorse a state adult-use legalization campaign.

Though Trump’s backing of Florida’s Amendment 3 – some critics say his endorsement was mostly spurred by his acrimonious relationship with Florida Gov. Ron DeSantis – didn’t

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Farming techniques could boost CBD, hemp study infers

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A new study on hemp microorganisms could ultimately help researchers, scientists and growers boost production of CBD and other valuable compounds such as terpenes.

The University of Houston study – titled “Microbiome diversity and variations in industrial hemp genotypes” and published in Nature magazine – examined communities of microbiomes living in and around the roots and leaves of four types of hemp plants.

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University of Houston researchers compared how those microorganisms differ between hemp grown for fiber and hemp grown for CBD production.

“Understanding these microorganisms can also lead to more sustainable farming methods, using nature to boost plant growth instead of relying heavily on chemicals,” Waqar Ahmad, an author of the study and doctoral student of lead researcher Abdul Latif Khan,

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Banking, veterans and research top priorities for Congress, new Cannabis Caucus chair says

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If U.S. Rep. Dina Titus has her way, the 119th Congress will finally pass cannabis banking reform as well as bills easing military veterans’ access to medical marijuana and researchers’ abilities to study the drug.

If all that sounds familiar – or like a crass joke, in the weeks before Groundhog Day – it should.

Those popular and long-sought-after wins are also what the Nevada Democrat and newly minted co-chair of the Congressional Cannabis Caucus’ immediate predecessors chased after, Titus acknowledged during an interview with MJBizDaily.

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Titus, whose new caucus co-chair is fellow Democratic Rep. Ilhan Omar of Minnesota, spoke with MJBizDaily only days after the newly seated Congress voted to certify the November presidential election that will allow Donald Trump return to

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