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Debra BorchardtNovember 10, 2022
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3min6670

TYSON 2.0, legendary boxer, entrepreneur and cannabis advocate Mike Tyson’s premium cannabis brand, and Ric Flair Drip, world-renowned pro-wrestler Ric Flair’s cannabis line, announced  that they are joining forces under a new parent company, Carma Holdings LLC. Additionally, TYSON 2.0’s board of directors will transition to Carma, with the announcement of the addition of attorney Alex Spiro.

Co-founded and led by Mike Tyson, chief brand officer, Chad Bronstein, chairman and president, and Adam Wilks, chief executive officer, TYSON 2.0 and Ric Flair Drip have generated $50 million in revenue since launching one year ago and are forecasted to reach $160 million in revenue in 2023. Through a vast network of industry partners, including Columbia Care Inc., Verano Holdings (OTC: VRNOF) and HEXO Corp. (Nasdaq: HEXO), TYSON 2.0 and Ric Flair Drip products are now available at more than 1,000 retailers across 40 states and select provinces in Canada.

“Focused on providing high-quality cannabis and creating icon-inspired products that evoke deep consumer connection and deliver elevated experiences, Carma embodies the next generation of celebrity-driven brands committed to providing consumers with safe and effective products that appeal to a wide spectrum of tastes and consumption preferences,” Bronstein said. “By centralizing our branding, marketing and distribution efforts, TYSON 2.0, Ric Flair Drip, and the other game-changing brands in development, we will be able to scale faster to meet global consumer demand.”

In March 2022, Tyson 2.0 released the controversial “Mike Bites,” a cannabis-infused, ear-shaped edible with a bite mark – a nod to one of Tyson’s most iconic boxing matches with Evander Holyfield. The company said the demand for Mike Bites was so strong, it led it to launch new product categories this past October to include three hemp-derived verticals: Delta-8, Delta-9, and CBD offered through an online global marketplace.

“Carma Holdings is a testament to our hard work and dedication to developing brands like TYSON 2.0 and Ric Flair Drip that resonate with our fans,” Tyson said. “Carma has changed the celebrity cannabis space forever, and I look forward to collaborating with our growing team of partners so that more people can experience the healing benefits of plant medicine.”


StaffNovember 9, 2022
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8min5300

This story was reprinted with permission from Crain’s Detroit Business news and written by Dustin Walsh

Proper Leaf Cannabis Co. will open at 9 a.m. today.

Voters Tuesday narrowly allowed the marijuana retailer to continue operations under two proposals in Memphis, a city of just 1,100 residents on the border of Macomb and St. Clair counties.

One proposal that asked voters if the city should prohibit marijuana establishments was voted down, 213-152. Similarly, the other proposal asked if the city should repeal its marijuana ordinances with 206 voters saying no to 148 voters.

George Pittenturf, general manager of Proper Leaf, previously told Crain’s that the company was hopeful the ordinances would be voted down but would have sought legal measures to fight the vote had it gone the other way.

“We are hoping … we would win that vote,” Pittenturf told Crain’s in an email. “If anything it could go two ways, one we shut down and see legal action to see what our option are or we could possible get grandfathered in and then they won’t allow anymore recreational licenses in that town. …”

Proper Leaf’s attorneys can safely stand down.

Elsewhere, Michigan’s marijuana measures saw success as well, winning in 75 percent of the communities they were on the ballot.

Following is a roundup of marijuana ballot results as reported by the communities:

Wayne County
  • Belleville: Voters approved an amendment to allow for two marijuana retailers, one marijuana processor, five class C grow licenses (each license allows an operator to grow up to 1,500 plants and a single operator at a single address can hold five of those licenses), two medical marijuana retailers and two consumption lounges.
  • Flat Rock: Voters said no to an amendment that would have allowed for a single marijuana retailer and a prohibition on all other forms of marijuana businesses.
  • Taylor: Voters approved a measure to repeal a previous ordinance that banned marijuana businesses in the city. Under the measure, “certain” marijuana businesses will be allowed to operate only in industrial areas of the city and not within 2,500 feet of another marijuana business, schools, churches, libraries and residential areas.
Oakland County
  • Auburn Hills: Voters approved the proposal to repeal a previous ordinance that banned marijuana businesses within the city and adopt a new ordinance that allows for up to four adult-use recreational marijuana businesses. It does not specify whether those businesses are retail, grow operations or processors. The new ordinance also allows for retail establishments to use delivery services, drive-through facilities and exterior walk-up windows.
  • Brandon Township: Voters said no to an amendment that would have allowed for one additional marijuana retailer in the township, while maintaining a prohibition on all other marijuana businesses. The Village of Ortonville, a community within Brandon Township, approved an ordinance in August that allows for two marijuana retailers to operate for at least three years within the village.
  • Clarkston: Voters said no to a proposal that would have allowed two medical marijuana retail locations to operate in the city.
  • Keego Harbor: Voters approved an ordinance that allows for medical marijuana operations in the city and establishes a licensing process.
  • Lathrup Village: Residents approved a measure to ban all marijuana operations in the village. The village has entertained proposals for two retailers and two testing labs since legalization but has no marijuana operations currently.
  • Leonard Village: Voters approved the initiation of an ordinance to allow a single adult-use recreational marijuana business in the village with no zoning restrictions, including allowing the business to operate in a residential zone.
  • Royal Oak Township: Voters approved a measure to repeal the township’s current ban on marijuana businesses. The ballot language states an ordinance would be established to assist patients in need of medical marijuana but does not specify whether the repeal would allow for both medical and recreational marijuana facilities in the township.
Macomb County
  • Memphis: Voters said no to a ban on marijuana businesses and no to repealing its current marijuana ordinance.
  • Chesterfield Township: Voters approved a proposal to establish an ordinance “to provide for the number of marihuana establishments allowed within the municipality.” It’s unclear exactly what number the township would deem acceptable.
Washtenaw County

There were no municipal or county marijuana measures on the ballot.

Livingston County

There were no municipal or county marijuana measures on the ballot.

St. Clair County
  • Memphis: Same ballot language as in Macomb County in the city that straddles the counties’ border.
Monroe County

There were no municipal or county marijuana measures on the ballot.


Debra BorchardtNovember 7, 2022
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4min10802

Hightimes Holding Corp. and HT Red LLC, a wholly owned subsidiary of Hightimes, bought MXY Holdings Inc., also known as Moxie Holdings, in an all-stock deal. Moxie is known for cultivating, producing, manufacturing, distributing, and selling cannabis products in the state of California.

The deal grants 1,363,654 shares of Hightimes voting common stock to the Moxie organization and includes Moxie’s 11,000-square-foot manufacturing facility as well as 46,000 square feet of flowering canopy cultivation, which is capable of producing up to 3,500 pounds of dry flower and more than 25,000 pounds of fresh frozen cannabis for High Times and its associated branded products each year.

Hightimes stock does not trade publicly nor is there a market for trading the private stock at this time. The company has planned to go public for years but has yet to do so. Hightimes also states in its stock offering that the stock could potentially never trade. The shares were given a par value of $0.001, which would make the value of this deal $1,363.65.

“With our current platform of stores, we believe this acquisition will be synergistic in nature for the Moxie brands and provide a good home for their branded products in California,” Paul Henderson, the chief executive officer of High Times, noted. “Additionally, it will provide High Times with a cultivation and production team that has won dozens of previous Cannabis Cups and other awards across the country.”

“Moxie has been a leading brand in recreational and medical cannabis since our founding, which made it non-negotiable that any acquisition agreement was done with an organization that shares our commitment to creating the highest-quality cannabis products that are trusted by consumers and regulators,” said Jordan Lams, CEO and founder of Moxie. “We believe these values are essential, especially in our current economic climate, for maintaining a strong and prosperous industry. High Times is one of the most recognizable brands in cannabis, and we have the utmost confidence in their ability to continue Moxie’s upward trajectory in California. This combination creates a vertically integrated business model that allows for more control and provides High Times with the freedom to make product-driven decisions that we know will help the industry and provide recreational and medical cannabis users with the highest quality cannabis products.”

In addition, Hightimes entered into separate management services agreements with each of Pure CA, MXY, Sapphire, and Calaveras under which Hightimes agreed to manage those businesses, pending the final closing of the transactions contemplated by the purchase agreements and upon receipt of regulatory approvals. Hightimes will pay all of the expenses of these entities. In consideration of such services, Hightimes will receive all of the revenues and profits, if any, from such businesses during the term of such management services agreements.

Financial Peril

High Times is making an acquisition at a time when the company has quit paying its debt. It is in default on the debt surrounding the company’s original acquisition five years ago.

High Times also is involved in numerous lawsuits, the most recent of which was the claim that the previous sellers owed the company $10 million saying it wasn’t truthful during the acquisition negotiations. That group, led by Eleanora Kennedy, actually sued High Times first for not paying what it owed on the acquisition of the magazine.


StaffNovember 7, 2022
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4min5960

Michigan-based private company JARS Cannabis is buying Colorado-based Euflora LLC for an undisclosed amount. The acquisition and rebranding of Euflora retail stores are expected to be completed by the end of the fourth quarter.

The deal includes one cultivation center and greenhouse, along with six recreational storefronts to its portfolio. JARS said the deal will increase its retail operations to include a total of 26 storefronts across three states and solidify its positioning as a leading purveyor of affordable and accessible cannabis products in the nation’s second- and third-largest cannabis markets.

“Since the inception of JARS Cannabis, it has been our mission to deliver only the highest quality of products and service to our community and customers,” said JARS Cannabis COO Raymond Abro. “In this evolving industry, the move to acquire Euflora demonstrates a strategic opportunity for JARS to service new customers as we continue to expand our retail footprint across the nation, while aiming to create new jobs and increase access to affordable and accessible recreational cannabis products for all.”

Ronnie Kassab is listed as the company’s CEO according to ZoomInfo.

The acquisition will create a combined workforce of 670 employees, and a combined loyalty base of more than 290,000 customers. The cultivation facility is a 7,200-square-foot cultivation center and greenhouse facility. The combined company will also create an expanded product availability and offerings to feature a combination of more than 250 brands and 6,000 product SKUs across various categories and price points.

JARS currently has four locations in Arizona and 15 stores in Michigan. Five more stores are planned for Michigan, according to the company’s website.

“We are pleased to join forces with JARS Cannabis to pursue a shared vision for the future of cannabis retail through sustainable expansion in core recreational markets,” said Euflora COO Scott Rybicki. “Today marks a transformative moment in the evolution of Euflora, and we anticipate this acquisition will drive significant leadership, operational, and retail opportunities amongst both parties to better meet the varying needs of our combined staff and loyal customer base.”


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