Canadian Firm to Buy Florida Medical Marijuana Grower

Canadian Firm to Buy Florida Medical Marijuana Grower

Toronto-based Scythian Biosciences Corp. will purchase a company that will take over 3 Boys Farms.

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August 1, 2018

A Canadian love-fest for Florida pot companies continues to blossom with a $93 million deal that includes a Ruskin-based grower yet to begin selling marijuana products.

Toronto-based Scythian Biosciences Corp. announced Monday it intends to purchase a company that will take over the grower 3 Boys Farms, which received a highly sought-after medical marijuana license in August 2017 after suing the state. The deal also includes purchasing an unnamed “health care organization” as part of Scythian Biosciences’ entry into the booming U.S. cannabis market.

In a letter to health officials in July, 3 Boys asked for nearly nine-month extension before it begins dispensing medical marijuana products to patients. Under Florida law, “medical marijuana treatment centers” are supposed to have products on the shelves 210 days after being authorized to begin cultivating cannabis. The Ruskin-based grower got the go-ahead to begin cultivation in January and faced a July 31 deadline to begin dispensing.

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Top photo courtesy of Adobe Stock