Companies Making Moves
Vertically-integrated cannabis multi-state operator, Ayr Wellness (CSE: AYR.A, OTC: AYRWF), opens up its third medical marijuana dispensary in the Commonwealth of Pennsylvania, located in Gibsonia, a suburb of Pittsburgh.
The dispensary is operated by CannTech PA, LLC, a wholly-owned Ayr subsidiary.
The strategic location is just off Route 8 at 112 Northtowne Square, Gibsonia, PA 15044.
The 8,000 sq. ft. facility has 45 parking spaces and is designed to fit up to 30 point-of-sale stations.
The dispensary will employ 20 people from the local community.
The retail location features curbside pickup and online reservations, a diverse product selection.
Additionally, Ayr Wellness opened a new Florida-based dispensary under the Liberty Health Sciences name and launched Big Pete’s Cookies in Florida.
Precision Extraction Solutions and Cascade Sciences announce a merger to create Sinclair Scientific, a cannabis and hemp extraction equipment and services company.
Lume Cannabis Co., a vertically-integrated cannabis brand in Michigan, announces a sponsorship deal with 313 Presents, making them the exclusive cannabis sponsor of Michigan’s legendary DTE Energy Music Theatre.
The venue holds a capacity of 15,000 people.
The space will include a branded, 6,000 square foot “Treehouse” lounge area.
This deal marks a significant step forward towards mainstreaming the visibility of cannabis, especially considering the strict marketing and advertising laws.
The sponsorship positions Lume for the impending days of open consumption and on-site purchasing.
Social CBD, makers of unpalatable CBD for pets, among other products, was sold.
The brand’s former scandalized CEO Nittin Khanna, is long plagued by sexual assault and rape allegations.
However, Khana maintains the sexual interaction with his fiance’s makeup artist on the morning of their wedding was consensual.
Kadenwood, a plant-based wellness company, which acquired the UK-based CBD wellness brand Healist Advanced Naturals, also recently announced the purchase of Social CBD.
Hopefully, the acquisition will cause the new R&D team to create CBD products for animals that do not repulse pets.
Legislation
Jersey City Planning Board passes legal cannabis zoning that allows consumption lounges
New Jersey’s Gov. Phil Murphy (D) signed an adult-use cannabis legalization law in February, clarifying that municipalities have until August 21st to regulate cannabis to their preferred parameters.
Otherwise, there will be blanket legalization by default.
The Jersey City Planning Board unanimously approved (7-0) a cannabis zoning ordinance that would permit various businesses within the city limits, including consumption lounges.
The regulation paves the way for cannabis cultivators, manufacturers, distributors, wholesalers, and dispensary businesses.
However, such facilities must be kept 200 feet from a school, reports the Hudson County View.
Consumers may enter a lounge only through the dispensary’s front door, and the spaces need to comply with ventilation regulations similar to those in effect for cigar lounges.
Full details here.
Product Launch:
Psychotropic spirits company Lively Spirits launches purejuana [sic], a cannabis spirit brand that is currently available in dispensaries in California, the cannabis mecca.
The adult-use beverage doesn’t contain alcohol and is produced from fresh, flash-frozen cannabis flowers to retain strain-specific flavors, aroma, and psychoactive effects.
Purejuana is a “top shelf” soluble cannabis powder conceived as a plant-derived spirit akin to mezcal or gin.
The powder is designed to be added to a traditional cocktail or experienced “neat.”
Consumers can also dissolve in still or sparkling water for a taste of the plant’s unadulterated cannabinoid spectrum.
A single purejuana shot packet is the ideal serving for one drink.
Purejuana does not contain distillate.
Instead, the brand uses proprietary technology to derive full-spectrum THC from fresh, flash-frozen cannabis flowers.
THC distillate, is a highly processed concentrate that strips away the plant’s naturally occurring terpenes and cannabinoids to create an odorless, tasteless extract that produces consistent, homogeneous, predictable effects, which some consumers prefer.
This extraction method aims to preserve the integrity of the plant and the natural flavors of each strain.
Veriheal announces $1,000 “Innovation in Cannabis Higher Education Scholarship” funds for 20 students.
Veriheal, the cannatech healthcare enterprise behind a medical marijuana application platform, announced a $20,000 worth of Innovation in Cannabis scholarship fund allocated to students pursuing degrees in the cannabis industry.
“The cannabis category is growing at an extraordinary rate, and there are many complex problems that require solving across all sectors, from finance and technology to science and education. At Veriheal, we’re fortunate to be in the position to support budding entrepreneurs from all walks of life and bring diverse, fresh perspectives to the cannabis field,” said Veriheal co-founder and co-CEO Joshua Green.