TORONTO, November 16, 2021 - PRESS RELEASE - TerrAscend Corp., a global cannabis company licensed for sales in Canada, the U.S. and the E.U., announced that its wholly-owned subsidiary has acquired a commercial property located at 273 East Memorial Blvd., Hagerstown, Md., (Hagerstown Facility), for a purchase price of approximately $2.8 million, plus certain costs and expenses from GB&J's LLC.

TerrAscend currently produces and sells dried flower and oil products for the Maryland wholesale medical cannabis market from its existing 22,000-square-foot cultivation and processing facility in Frederick, Md. The company has already received regulatory approval for the planned relocation of its cultivation operations to the 156,000-square-foot Hagerstown Facility and expects to relocate and commence operations in Q1 2022.

"With adult-use legislation currently under review by the state, scaling our Maryland cultivation and processing capabilities will allow us to support this important and underserved market," said Jason Wild, TerrAscend executive chairman. "Our investment will improve patient and future consumer access to quality cannabis products, including our Kind Tree, Ilera and Prism brands, while we continue to pursue potential vertical integration opportunities in the state."

BOCA RATON, Florida, November 17, 2021 — PRESS RELEASE — Jushi Holdings Inc. (Jushi), a vertically integrated, multi-state cannabis operator, announced that it has entered a definitive agreement to acquire NuLeaf, Inc., a Nevada-based vertically integrated operator, for total consideration of up to $62.5 million. 

In addition to a 27,000-square-foot cultivation facility in Sparks, Nev., and a 13,000 square-foot processing facility in Reno, Nev., NuLeaf operates two adult-use and medical retail dispensaries. Additionally, NuLeaf owns a third licensed retail dispensary located directly on Las Vegas Boulevard: the Las Vegas Strip Dispensary, which is expected to become operational early next year, subject to regulatory approval and other conditions.

Upon completion of the acquisition of NuLeaf, and the previously announced Apothecarium Nevada acquisition, Jushi will grow its retail presence to four dispensaries in the $1 billion Nevada cannabis market, three of which are located in the Las Vegas area. The company will also bolster its existing cultivation and processing capabilities in the state with the addition of NuLeaf's high-quality facilities, providing a strategic entry point into the Nevada wholesale market.

"We are thrilled to enter into an agreement to acquire NuLeaf, a vertically integrated operator with the potential to significantly increase our presence in the Nevada retail and wholesale markets," said Jim Cacioppo, Jushi founder, chairman and CEO. "NuLeaf boasts a well-established retail network with top-quality, design-forward dispensaries in coveted high-traffic destination locations. In addition, NuLeaf's cultivation and processing assets are strongly aligned with our strategic expansion strategy in Nevada. This acquisition is expected to generate significant top-line growth and be immediately accretive, as well as increase market share of Jushi's best-in-class brands and establish a leadership position in one of the largest cannabis markets in the U.S."

Click here for the full press release.

WASHINGTON, D.C., November 17, 2021 - PRESS RELEASE - The District of Columbia Marijuana Justice (DCMJ) will present a carefully vetted amendment to the D.C. Council at a public hearing Friday. The amendment's focus is on opening D.C. farmers' markets to adult-use cannabis sales and licensing sales by D.C. craft cultivators and cottage industry entrepreneurs.

"Combining criminal justice reforms and economic innovation, the amendment would guarantee D.C. implements a profitable, equitable, affordable and transparent system of adult-use cannabis sales, testing and cultivation," said Nikolas Schiller, Cottage Industry Amendment author and Initiative 71 co-author.

The amendment establishes a "Cottage Industry License" for adult residents and a "Farmers Market Endorsement" license that would allow sales by local craft cultivators and entrepreneurs, molding social equity and decriminalization into a new, necessary and innovative revenue stream. The amendment includes enforceable rules and regulations for anyone issued either license.

The amendment states, "A cottage industry license shall authorize the licensee to grow and produce medicinal and/or recreational marijuana within their residence for sale and delivery at wholesale directly to manufacturers, testing facilities, retailers and farmers markets."

The amendment continues, "A Farmers Market Endorsement is a license issued to Cottage Industry Licensees or Micro Business Licensees that authorizes the licensee to sell the cannabis at Farmers Markets in the District of Columbia."

Click here for the complete amendment. 

"The intent and spirit of Initiative-71, which D.C. voters approved seven years ago, was from the start to decriminalize the plant in D.C., end to the persecution of local cannabis users, and establish a system of equitable, safe, affordable and all-inclusive cannabis commerce, from micro-sales to dispensaries," said Adam Eidinger, the proposer of Initiative 71 and co-founder of cannabis advocacy and educational group DCMJ.

"We have an obligation to implement a system that does not shut out any cannabis entrepreneur, who wants to make an income, will abide by the regulations, and pay sales and taxes on profits. In state after state, legislatures have left out many American entrepreneurs by allowing an exclusive 'Big Pot' oligopoly to dominate the local adult-use marketplace. We can break the cannabis oligopoly here in D.C. if we just legalize with the little guy in mind," Eidinger added.

The DC Cannabis Business Association (DCCBA) endorsed the groundbreaking amendment. "The D.C. Council has a chance to do what no state that has succeeded in doing so far, creating a pathway to moving the cannabis underground and 'grey market' to the economic mainstream," said Lisa Scott, DCCBA founder. 

The amendment was crafted after countless hours of deliberation and discussion, including open meetings and a three-part reading of the entire bill hosted by DCMJ. A range of citizens, including moms, dads, veterans, activists, business people and lawyers, all contributed ideas and commentary.

"This amendment represents the will of the D.C. cannabis community. It's thoughtful with respect to the local diversity, comprehensive, and carefully worded," said Nikolas Schiller. "The message was clear that many D.C. residents want to be a part of the coming commercial cannabis marketplace, but they fear they will be unfairly excluded from ownership and partnership in a cannabis enterprise. The D.C. Council can break the cycle and become the model of success."