SAN DIEGO, May 29, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Driven Deliveries, Inc., a publicly traded cannabis delivery company, has announced that the company has signed a Letter of Intent to acquire cannabis retailer, Mountain High Recreation (MHR). The transaction is expected to provide Driven with an additional $2.5 million in annual revenue.

Operating primarily in Northern California, Mountain High Recreation currently offers marijuana for sale online, with a menu of cannabis flowers, concentrates, waxes, vapes, edibles, tinctures, CBD products and accessories. The acquisition will enable Driven to expand its services to now include dynamic same day and intraday orders and delivery. The company will now offer event based sales and marketing through on location mobile stores increasing its addressable market and audiences to include those traveling from out of state. With the acquisition, Driven’s combined customer count will increase to nearly 40,000 while its brand portfolio will expand to more than 80 brands an overall transactions should exceed 45,000 deliveries annually.

“In addition to affording us with strong topline growth, this acquisition provides a strong competitive advantage in reaching cannabis consumers in a more direct and efficient manner,” stated Mr. Brian Hayek, president of Driven Deliveries Inc. “Mountain High Recreational is another example of how Driven will continue to consolidate essential services into a single offering to dramatically increase the value we bring to our partnering brands and the growing community of loyal consumers. Management is excited about the value we are creating within the industry and our ability to leverage our technology and marketing platforms to immediately increase volume and reduce operating costs through integration.”

“We believe that MHR provides us with a strategic advantage in capturing market share throughout the rapidly emerging California cannabis sector. Going forward, we will continue to identify similar targets in emerging markets, in order to expand the Driven brand and achieve our overall goal of enhanced shareholder value.”

Mr. Ken Cordoba, CEO of Mountain High Recreation, stated, “Management is extremely pleased to announce this agreement with Driven Deliveries Inc. Their best-in-class technology and reputation for delivering quality products to their customer base in a timely manner dovetail perfectly with our business strategy."

The Arizona medical marijuana community and business industry can finally exhale: The state Supreme Court decided a crucial appeal on Tuesday by siding 7-0 with patients and state voters on marijuana resin extracts.

Parties in the case of State of Arizona v. Rodney Christopher Jones received word just after 10 a.m. on Tuesday that Jones had won his appeal.

"We hold that [Arizona Medical Marijuana Act's] definition of marijuana includes both its dried-leaf/flower form and extracted resin, including hashish," the court stated in its unanimous ruling.

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The Transportation Security Administration quietly changed its cannabis policy over the weekend to allow passengers to bring some forms of cannabidiol (CBD) oil, plus an FDA-approved marijuana based drug, on flights.

All forms of marijuana were previously prohibited in both checked and carry-on bags. But Sunday, the agency updated TSA.gov to reflect new regulations that allow FDA-approved medical marijuana and products that contain hemp-derived CBD oil. The CBD oil is allowed "as long as it is produced within the regulations defined by the law" under the 2018 Farm Bill, which federally legalized hemp and hemp derivatives. The development was first reported by Marijuana Moment on Monday.

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Ross Johnson, the co-founder of Nevada-based GG Strains, passed away May 23 at the age of 61.

Johnson, also known as Lone Watty, co-founded GG Strains with Don Peabody (aka Joesy Whales), and the pair co-created the Original Glue cannabis variety (formally known as GG4), which won first place in the 2015 World Cannabis Cup and was part of a now infamous cannabis legal case.

“The industry lost one of the last straight shooters,” Cat Franklin, director of operations and marketing at GG Strains, told Cannabis Business Times. “He was an honest, honest man and it makes me sad that this is the one that has to go. We’ve got some big shoes to fill.”

Peabody’ and Johnson’s creation was initially named Gorilla Glue 4, which prompted a high-profile trademark infringement lawsuit from Ohio-based adhesives company Gorilla Glue. GG Strains settled with Gorilla Glue and rebranded its cannabis varieties in September 2017, and the case has served as a warning to other cannabis companies to carefully consider the names of their brands and products.

In founding GG Strains, Johnson’s overall goal was to ensure quality and consistency for all cannabis consumers and medical marijuana patients by enabling them to receive the same high-quality genetics each time they purchase products, according to the company’s website. 

“Being in the predicament that we are in, we are very fortunate to have two breeders,” Franklin added. “As much as I’m sad, I have to look at the positive and the positive is we still have Don [Peabody].”

A GoFundMe campaign was launched on May 23rd to help the family with funeral costs. Donations can be made here: bit.ly/Ross-Johnson-GoFundMe.