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The Cannabist Co. selling Florida medical marijuana grows, dispensaries for $16.4M

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New York-based The Cannabist Co. is selling all 14 of its Florida medical marijuana dispensaries and three cultivation facilities for $16.4 million in two separate deals involving three multistate operators.

In one transaction, an unidentified MSO is paying $11.4 million for The Cannabist’s 40,000-square-foot cultivation facility in Lakeland, according to a Friday news release.

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That deal, which is “subject to adjustment,” is payable in cash, though $2 million of the consideration is already in escrow, the release notes.

A spokesperson for The Cannabist told MJBizDaily via email that “we are not disclosing the MSO at this time.”

In the other transaction, a joint venture of Arizona-based Mint Cannabis and California-headquartered Shango will pay $5 million for The Cannabist’s 14 dispensaries.

The deal includes the

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Nebraska medical cannabis qualifies for ballot amid controversy

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Initiatives to legalize medical marijuana in Nebraska and set up a regulated MMJ market qualified for the November ballot on Friday, just hours after complications threatening the effort appeared.

Nebraska Secretary of State Bob Evnen certified the efforts of Nebraskans for Medical Marijuana on Friday, the same day prosecutors announced charges against Michael Egbert, a Grand Island man involved in the petition, for allegedly falsifying signatures.

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Nebraska is one of a dwindling handful of states without any regulated marijuana program.

On Thursday, former state Sen. John Kuehn, a co-founder of the anti-legalization organization Smart Approaches to Marijuana, filed a lawsuit to stop Even from certifying two separate measures:

Ballot measure 437, Nebraska Medical Cannabis Patient Protection, to legalize medical marijuana. Ballot

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Michigan sets record with $295.4 million in monthly marijuana sales

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Michigan marijuana retailers sold $295,412,252 worth of medical and recreational cannabis in August, setting a new monthly record.

The previous record was set in March, when total sales hit $288,843,279, according to MJBizDaily’s analysis of the latest data released by the Michigan Cannabis Regulatory Agency (CRA).

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Sales in August were up 2.7% over July, when retailers reported $287,743,072 in total sales.

Medical marijuana sales accounted for less than 1% of total regulated cannabis sales in August, according to MJBizDaily analysis.

August marked the third-consecutive month of increasing sales in the state.

Michigan retailers in August also broke a monthly record for selling 100,894 pounds of flower, Cannabis Business Times reported.

Meanwhile, the average price per ounce of flower was $80.14, a near-record

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Hytn secures deal to supply medical marijuana to UK

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British Columbia-based Hytn Innovations Inc. is teaming up with 4C Labs, a Canadian cannabis distribution and product-development company, to produce medical marijuana for distribution in the United Kingdom and, potentially, other global markets.

The partnership allows cannabinoid-focused pharmaceutical company Hytn to manufacture, package and export pharmaceutical-quality cannabis products in bulk and packaged formats for 4C Labs to distribute in the UK, according to a news release.

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Hytn holds a good manufacturing practice (GMP) license from Health Canada as well as a PIC/S (Pharmaceutical Inspection Co-operation Scheme) certification from Australia’s Therapeutic Goods Administration, the news release said.

“This partnership validates the ongoing regulatory work Hytn has been undertaking,” Hytn CEO Elliot McKerr said in a prepared statement.

“By integrating 4C Labs’ deep understanding

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