Marijuana Business Magazine - Issue 09, Oct 2017

Franwell Lands Ohio Contract Ohio medical marijuana regula- tors have chosen two vendors to develop the state’s seed-to-sale and online licensing systems. The Ohio Department of Commerce awarded a $1.3 mil- lion contract to Florida-based Franwell for its Marijuana Enforcement, Reporting, Tracking and Compliance (METRC) seed-to-sale system. METRC is used in several cannabis states, including California. Persistent Systems , a technology company head- quartered in India with U.S. operations, won a $574,000 contract to design and build Ohio’s e-licensing system to track the licenses required for marijuana growers, pro- cessors, testing labs and their employees. Tilray to Invest $24 Million to Create Large Facility Canadian medical marijuana producer Tilray will invest $24 million (CA$30 million) to convert an Ontario pepper farm into one of the nation’s largest MJ production facilities. The project’s initial phase will give Tilray – a unit of Priva- teer Holdings – a fivefold increase in production capacity to almost 90,000 pounds a year by the end of 2018. The boost in output will allow the company to serve Canada’s rapidly expanding medical marijuana program and, ultimately, the nation’s new recreational market. Full rollout of the Ontario facility, in the township of Enniskil- len, ultimately would see Tilray’s annual production rise to over 220,00 pounds over the next few years. Dixie Elixirs Issues Recall Dixie Elixirs , one of the biggest names in the edibles business, has issued a voluntary recall for six products in Colorado because of potentially unsafe non-food-grade essential oils. Left Bank LLC , which does business as Dixie Elixirs in Colorado, recalled four recreational canna- bis products and two that are medical, including specific batches of Dixie mints, tablets and chocolate bars. Canadian Firm Buys Florida Land to Boost MMJ Output The Canadian holder of a license to cultivate medi- cal marijuana in Florida plans to expand its production capacity in the state by more than 35 times. Liberty Health Sciences , based in Toronto, agreed to purchase 36 acres of land in Alachua County for $866,975 in cash. The deal will help the company capitalize on the launch of the Sunshine State’s full-fledged MMJ market. The parcel is adjacent to the company’s existing 13,000-square-foot grow facility at Chestnut Hill Tree Farm, which produces 1,543 pounds of MMJ annually. Lib- erty holds one of Florida’s 11 MMJ cultivation licenses. Florida Firms Win MMJ Licenses Sun Bulb Co. in Arcadia, Florida, and Treadwell Nursery in Eustis won medical marijuana business licenses from the state. The move increases to 11 the number of companies authorized to grow, process and distribute MMJ in Florida. A week earlier, regulators issued approval letters to Plants of Ruskin and 3 Boys Farm , both in Ruskin. Company Wins Final New Jersey License Six years and several executive and investor changes later, Harmony Foundation became the sixth and final medical marijuana business in New Jersey to get its state license. The dispensary plans to be operational by the end of the year. Harmony will operate as a vertically integrated grow and dispensing business out of a 10,000-square-foot greenhouse and retail space in Secaucus, New Jersey. CCRI Wins Delaware’s Fourth Medical Cannabis License New Jersey-based Compassionate Care Research Insti- tute (CCRI) won a medical marijuana production and distribu- tion license in Delaware – the fourth permit the state has given out. CCRI previously applied for permits in two counties but lost out to other applicants, so regulators decided the company was the best suited candidate for the fourth license. Oregon Testing Company Expands to Florida Signal Bay – a marijuana-focused holding company in Bend, Oregon – has expanded its marijuana testing divi- sion to Florida through a licensing agreement with a Fort Lauderdale-based holding company, Kaycha Holdings . Under the agreement, Signal Bay subsidiary EVIO Labs will operate under the EVIO Labs brand. Florida Bank Welcomes MMJ Businesses Orlando, Florida-based First Green Bank has opened accounts and granted financial services to six licensed Florida medical marijuana businesses. First Green Bank’s services include accepting large cash deposits from marijuana firms – without touching the money – and transporting the funds straight from the business to a Federal Reserve location via armored trucks. MassRoots Buys CannaRegs for $12 Million Cannabis social media platform MassRoots acquired CannaRegs in a stock deal valued at about $12 million. CannaRegs is a website dedi- cated to helping cannabis companies stay atop of ever-changing industry regulations. According to Denver-based MassRoots, CannaRegs is cash-flow positive and has annual revenue of at least Tilray is converting a pepper farm into a marijuana production facility. 116 • Marijuana Business Magazine • October 2017