Marijuana Business Magazine - March 2018

The new contract will begin Nov. 1 and is valued at $213,000 the first year and $71,000 each additional year. Metrc is also the state traceability system in Alaska, California, Maryland, Michigan, Montana, Nevada, Ohio and Oregon and will be used in Massachusetts when that state’s recreational program goes online. Green Man Cannabis Launches Franchise Colorado cultivation and retail company Green Man Cannabis unveiled plans to begin franchising under the brand ONE Cannabis . The new franchise already has several deals in the works in multiple states. In its home state of Colorado, ONE Cannabis anticipates growing to 50 franchises within the next 36 months and has opportuni- ties for retail sites with landlords in Denver and Frisco. Bubbly Deal Mountjoy Sparkling , a Sonoma County, California, producer of cannabis-infused sparkling water, has a new distribution partner, Green Reef Distributing . The firm, whose products are primarily sold in Northern California, hopes the move will expand its reach across the entire state. Mountjoy is also launching a new product, Mount- joy Sparkling CBD. The company launched in August 2017, had sales of $90,000 in December 2017 and is projecting 2018 sales of up to $1.2 million. Evio Nabs C3 Labs Evio Labs , an Oregon cannabis testing firm, bought a majority stake in rival C3 Labs in Berkeley, Califor- nia. The deal gives Evio a presence in the Bay Area to go with its labs in Southern California and north of Sac- ramento. Under the terms of the deal, Evio acquired a 60% stake in C3, with an option to purchase the remaining ownership stake. A final price will be determined later. Excluding C3, Evio operates 10 testing labs in Oregon, California, Florida, Colorado and Massachusetts. New Insurance Options Cannasure Insurance Services in Cleveland has launched a line of insurance products catering to the cannabis industry. Cannasure will offer property, general liability, products liability, crop and excess liability. It will cater to dispensaries, cultivators, processors/manufac- turers, ancillary businesses, landlords and testing labs. Minority Cannabis Business Summit The Minority Cannabis Business Association has partnered with the University of Denver’s Daniels College of Business and Hoban Law Group to host the first Can- nabis Opportunity Summit March 22-24 in Denver. The event will provide resources, information and connections to businesses and entrepreneurs from the communities most affected by the war on drugs. It also will feature the launch of MCBA’s expungement and record-sealing clinics in Colorado, which aim to remove or seal non-violent drug offenses from the permanent records of people. CBD Company to Sponsor Basketball League Green Roads Athletics , the newly created sports division of CBD manufacturer and producer Green Roads of Florida, signed a one-year sponsorship deal with the recently formed North American Pre- mier Basketball League. The deal estab- lishes Green Roads Athletics’ CBD product lineup as the “Official Alternative Nutrition of the NAPB.” Green Roads hired Treyous Jarrells, an entrepreneur and former Colorado State Univer- sity running back, to lead Green Roads Athletics. A Hemp First NewWest Genetics , a cannabis biotechnology company in Fort Collins, Colorado, developed the first hemp seed bred entirely in the United States in the modern era, according to the Col- orado Department of Agriculture. The new seed variety, called NWG-Elite, can be purchased only from NewWest. High Times Aims for Nasdaq High Times Holding Corp. , the parent of High Times magazine, has filed documents with the Securities and Exchange Commission to raise $50 million by selling shares at $11 each through an initial public offering. The company hopes to secure a listing on the Nasdaq. The IPO will be done through the relatively new crowdfunding method known as Regulation A+. Western Cannabis Alliance The Western Regional Cannabis Business Alliance announced its formation in January on behalf of its members representing legal cannabis business owners in Alaska, Hawaii, Montana, Oregon, Washington state and Arizona as well as the American Trade Association for Cannabis and Hemp. Pacific Cannabis Alliance The California Cannabis Industry Association , the Oregon Cannabis Association and The Canna- bis Alliance (Washington state) have entered into an William Waldrop CEO, Evio Labs Wendy Mosher, CEO, New West Genetics 108 • Marijuana Business Magazine • March 2018