Marijuana Business Daily

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

Published

1 year ago

October 4, 2023

admin

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.

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.

In addition to

Read full article on Marijuana Business Daily

Source link

Marijuana Business Daily

Marijuana company involved in Missouri’s huge recall loses final license appeal

Published

2 days ago

February 21, 2025

admin

Missouri marijuana processor Delta Extraction has lost its final appeal, resulting in the termination of its business license after its role in a massive 2023 product recall.

According to the Missouri Independent, the state’s Administrative Hearing Commission this week upheld an earlier decision by state regulators who suspended Delta Extraction’s marijuana business license in August 2023, accusing the company of sourcing materials from an unlicensed facility.

The commission essentially agreed with the Division of Cannabis Regulation (DCR) that Delta Extraction violated Missouri law by infusing products with THCA sourced from outside the state.

In a 137-page ruling issued Tuesday, the Administrative Hearing Commission said the company had a “corporate culture of lax compliance with regulatory requirements,” the Independent reported.

An attorney representing

Read full article on Marijuana Business Daily

Source link

Marijuana Business Daily

Could 2025 be the year of university and cannabis industry partnerships?

Published

2 days ago

February 21, 2025

admin

(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.)

Pam Chmiel (Courtesy photo)

2025 is poised to be a pivotal year for partnerships between the cannabis industry and universities, both in the United States and globally.

While academic collaborations are not a new concept, the cannabis industry has been slow to embrace them – mainly because marijuana is illegal on the federal level in the United States.

However, as the industry matures, these partnerships represent the next logical step for companies with the vision and resources to drive innovation, influence policy and shape the future of cannabis.

The potential for collaboration spans research partnerships, sponsored research agreements, joint ventures and licensing arrangements through technology transfer agreements.

Read full article on Marijuana Business Daily

Source link

Marijuana Business Daily

The rapid collapse of MedMen co-founders’ latest marijuana venture

Published

4 days ago

February 19, 2025

admin

The latest foray into the legal marijuana industry by MedMen Enterprises co-founders Adam Bierman and Andrew Modlin rapidly collapsed amid lawsuits alleging unpaid bills and a dispute with a business partner, court records and public licensing information show.

Megabud – described as a “chain of cannabis convenience stores” – launched in December 2022 with three locations in the San Francisco Bay Area.

The chain, which had ambitious expansion plans, represented at least the third legal cannabis venture for Bierman and Modlin, whose infamous tenure as MedMen executives saw the marijuana multistate operator go public on the Canadian Securities Exchange with an implied valuation of $2 billion before an equally spectacular implosion.

A second cannabis retail chain in which Bierman and Modlin owned a

Read full article on Marijuana Business Daily

Source link