New Jersey’s 15th medical marijuana dispensary will open this week, marking more slow but steady progress in the state’s cannabis industry.
The Botanist, which is operated by Canadian cannabis giant Acreage, will open its doors to patients this week in Williamstown once it receives final state approval. It’s the company’s third dispensary in the state. The other two are in Atlantic City and Egg Harbor Township.
The Super Bowl isn’t ready for medical marijuana.
Acreage Holdings, the multi-state cannabis company backed by John Boehner, says CBS rejected a television advertisement that calls for the legalization of medical marijuana. The network, which is airing the game on Feb. 3, nixed the proposed spot after seeing a rough outline, according to the company.
New York State Governor Andrew Cuomo announced his plan to legalize adult use cannabis in 100 days. The governor did not provide a lot of details but suggested it would continue to be a restrictive program.
Of course, New Jersey also said it would legalize adult use cannabis but then found it has taken much longer to make adjustments to the rules and regulations of a conservative medical cannabis program. Cuomo did note that consumers would need to be over the age of 21 and he was very supportive of towns cities having the ability to opt out of allowing cannabis businesses.
The end of 2018 set the stage for more consolidation. Larger, more well-financed players were able to acquire smaller companies as the land grab frenzy heats up. Key end of year consolidations included MedMen's (MMNFF) acquisition of Pharmacann and the combination of iAnthus (ITHUF) and MPX Bioceuticals (MPXEF) . The latest announcement between Green Growth Brands and Aphria (APHA) has generated a heated discussion as to whether the proposed hostile bid is serious.