Canopy Growth has spent $300 million on its option to buy Acreage for $3.4 billion, following the triggering event. The terms of Harvest Health’s deal with CannaPharmacy haven’t yet been disclosed.
It should also be noted Ontario-based Canopy received a $4 billion investment last year from Constellation Brands, the Fortune 500 alcohol company which produces Corona and Modelo beers, Svedka vodka as well as Woodbridge and Robert Mondavi wines, among others.
Efforts to legalize recreational marijuana use in New Jersey have stalled, but not efforts to keep a legal marijuana farm out of a suburban bedroom community in Morris County.
Residents of two towns implored members of the Planning Board on Monday to join their resistance to a medical cannabis cultivation farm proposed to operate on the former Hamilton Farms property, which borders their neighborhoods.
When the first medical marijuana prescriptions are sold in Warren County, it will be out of an old bank on Main Street Phillipsburg.
For its commercial front, the NETA NJ has closed a sale on the former Phillipsburg Trust Co. building at 55 S. Main St. The closing was confirmed Wednesday by both the town council president and a director for the Ewing-based company.
NETA NJ’s proposal for a Phillipsburg dispensary was one of six given the green light last month by the state health department.
Back on Nov. 26, both the state's Senate and Assembly overwhelmingly voted in favor of three bills that would legalize recreational weed within the state, expand the medical pot program, and speed up criminal expungements of low-level cannabis offenses. Although this vote didn't legalize recreational marijuana, it does signal genuine support among state legislators for such a move.
TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) (“TerrAscend”) is pleased to announce that its majority owned subsidiary, NETA NJ, LLC (the “Applicant”) was awarded a permit to apply for a vertically integrated license in Phillipsburg, NJ. TerrAscend’s minority partners in the Applicant are BWH NJ, LLC and Blue Marble Ventures, LLC and its operations will include cultivation, processing and retail.
TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) (“TerrAscend”) is pleased to announce that its majority owned subsidiary, NETA NJ, LLC (the “Applicant”) was awarded a permit to apply for a vertically integrated license in Phillipsburg, NJ. TerrAscend’s minority partners in the Applicant are BWH NJ, LLC and Blue Marble Ventures, LLC and its operations will include cultivation, processing and retail.
"Six very strong applicants were selected, including minority-owned and women-owned businesses," Health Commissioner Shereef Elnahal said. "We'll meet with them early next year to refine their timetable for growing product and opening their doors."
The entities listed below have received initial approval from the Department of Health for their applications to operate an alternative treatment center.
An approved application does not comprise a license, permit or other approval to open and operate an alternative treatment center. Permission to operate is granted to successful applicants only after DOH completes a series of reviews and inspections of their facilities, procedures and products.
The 146 applications were reviewed by a six-person committee consisting of four DOH representatives and one each from the Departments of Agriculture and Treasury. Their expertise included medical marijuana, ATC regulation, lab testing, plant science, diversity and procurement. Prior to scoring the applications, committee members received implicit bias training from the state’s Chief Diversity Officer to ensure an impartial selection process.
Submitted by njlegalizeme on Tue, 11/13/2018 - 08:54