The action was prompted by what officials called “blatant misrepresentation” in a statement issued by Harvest Health & Recreation, which announced Tuesday that it is acquiring a Pennsylvania weed company.
Harvest claimed that its multimillion dollar deal to acquire CannaPharmacy would make it one of the biggest marijuana companies in the nation. As part of the deal, Harvest said it would gain ownership of a marijuana growing operation in Reading. In addition, the company claimed it owned rights to open a total of 21 retail marijuana dispensaries.
An Arizona-based vertically integrated cannabis company is bringing its $500 million war chest and rolling up marijuana dispensaries and grow/manufacture operations on the East Coast with an agreement to acquire a local company with marijuana licenses in Delaware, Maryland, New Jersey and Pennsylvania.
Harvest Health and Recreation, a vertically integrated cannabis company, announced Tuesday it will acquire CannaPharmacy which owns or operates (through management companies) cannabis licenses in New Jersey, Pennsylvania, Delaware, and Maryland and holds a minority interest in a pending licensee in Colombia.
For New Jersey the acquisition includes one of six operational – and 12 awarded by the state – fully vertical licenses, permitting cultivation, retail sales and manufacturing.
But in the back of Philadelphia Temple of Hemp and Cannabis is something far more unusual — a sanctuary and lounge where medical marijuana patients are encouraged to light up.
“It’s not your normal church,” says Patrick Duff, the co-owner and high priest of the Frankford Avenue shop that brands itself Philly THC. “In fact, it’s licensed as a gift shop. We pay taxes. But the reason we opened is that there was nobody providing a space for marijuana patients to come together and take their medicines socially.”
A spokesperson for the department tells The Philadelphia Inquirer they issued the ban last week because the Pennsylvania Cannabis Festival in Scranton is not a "medically focused event."
Festival organizer Jeff Zick said he stands to lose tens of thousands of dollars after dispensaries paid more than $8,000 each to set up booths at the festival.
About 10,000 people are expected to attend the fifth annual free event held April 20.
Thriving recreational markets in D.C. and such states as Alaska, California, Colorado, Maine, Michigan, Nevada, and Oregon have legalized home cultivation within their recreational marijuana laws. Despite the argument that home cultivation would hurt dispensaries and overall commercial sales, Colorado made $266,529,637 in marijuana tax revenue in 2018, nearly quadruple the amount in 2014, while allowing for home growing that entire period.
Acreage Holdings has licenses in 17 states, of which 12 are operational, while the company has licenses to process in 12 states, seven of which are now in operation. The company has licenses to operate 68 retail dispensaries in 12 states, of which 21 are currently operational in 10 states. The Botanist is its retail concept designed to appeal to both adult use and medicinal consumers.
Pennsylvania’s medical marijuana industry this week announced it would support the creation of an adult use cannabis program in the Keystone State.
The Pennsylvania Cannabis Coalition, a network of current growers and dispensary owners, endorsed the idea as Lt. Gov. John Fetterman began holding town halls in the state’s 67 counties to gauge interest in legalizing weed for recreational use.
After compromising on legislation to increase the minimum wage to $15 per hour, Gov. Phil Murphy's administration is back on the same page — or at least a similar one — with Senate President Stephen Sweeney.
The newfound collaboration has cannabis entrepreneurs and advocates hopeful that a legal weed law could be enacted before the spring.
The latest in a series of bills to legalize marijuana in Pennsylvania for adult recreational use was introduced Monday in the Assembly.
The bill, H.R. 50, which would amend current law, differs radically from previous efforts to legalize marijuana. Introduced by Rep Jake Wheatley (D., Allegheny), it addresses several issues long fought for by advocates.