Kim Rivers Archives - Green Market Report

Adam JacksonJune 1, 2023


Florida State Attorney General Ashley Moody has lobbed a legal challenge against the latest ballot initiative seeking to legalize recreational marijuana, arguing it violates the state’s constitution.

According to Florida Courts’ information system, Moody formally requested a review of the proposed amendment by the Supreme Court on May 15. The challenge was first reported by Florida Politics.

The news comes a month after the political committee sponsoring the initiative, Safe & Smart Florida, surpassed the needed 222,881 petition signatures in April.

“The proposed amendment fails to meet the requirements of specific state law,” Moody said in her submission. She declined to elaborate, pledging to present “additional argument through a briefing at the appropriate time.”

For any amendment to become part of the Florida Constitution, it must receive approval from the Florida Supreme Court and the backing of 60% of voters in a general election. Past efforts to legalize recreational marijuana in the state have failed, largely due to concerns about decriminalization under state law while federal law continues to ban marijuana use.

Sally Peebles, a Florida-based attorney with Vicente Sederberg, expressed cautious optimism about the proposed amendment’s chances.

“I have consistently said that I believe this most recent attempt to legalize marijuana in the state of Florida is the best attempt yet because the language is clean and very simple,” Peebles told Green Market Report.

According to her, the current proposal avoids violations of the single subject rule or clarity requirements, which were stumbling blocks for previous efforts.

Still, she said that she is “not naïve” and acknowledged the conservative disposition of the Florida state government and its Supreme Court, conceding that “if there’s any argument to be had, that this does violate the single subject rule, then I think they will certainly agree with [Attorney General Ashley] Moody on that.”

Despite this, Peebles said that Safe & Smart Florida more than likely has been prepared for the legal fight, calling the current initiative “the strongest attempt yet.” She stressed that the primary objective of the initiative is unambiguous: “to no longer have marijuana prohibition in Florida.”

Moody, who has consistently opposed legalization, maintained that the amendment violates a law requiring constitutional amendments to cover only a single subject and to be fully compliant with the state’s technical requirements.

The proposed amendment’s changes would remove criminal liability or civil sanctions for the non-medical use of marijuana and would authorize all licensed Medical Marijuana Treatment Centers in Florida to produce and sell recreational cannabis products.

The Supreme Court will determine whether to hold oral arguments on the matter after the June 12 deadline for opponents to file their briefs.

Trulieve’s Long Play?

Florida’s largest medical marijuana producer, Trulieve Cannabis Corp. has provided substantial financial backing for the effort. As of April, the company had donated $38.5 million to Safe & Smart Florida, according to campaign finance records. The bulk of the committee’s funding has been spent on collecting and validating petition signatures.

“The adult-use opportunity in Florida is the most significant near-term catalyst for Trulieve,” Rivers told investors in a recent earnings call, touting that the campaign had gathered enough raw signatures for inclusion on the November 2024 ballot. As of publication, the state had not verified the signatures.

Rivers estimated that Florida, with 22 million residents and 138 million annual tourist visits, could become a leading legal cannabis market, potentially reaching $6 billion in annual revenue.

Florida’s medical marijuana market is also set to expand following the passage of a bill that extends the renewal of marijuana prescriptions over telehealth and authorizes nearly a dozen additional licenses for Black farmers to enter the cannabis industry.

According to sources familiar with the matter, the new Pigford licenses will not reduce the number of licenses from a separate application process – which concluded during the last week of April – that offered an additional 22 licenses.

“We believe the ballot language meets Florida’s single subject and related laws and look forward to the Smart & Safe campaign bringing this matter before the court where we expect a positive ruling,” a spokesperson for Trulieve told Green Market Report.

StaffMarch 6, 2020


In honor of International Women’s Day, we are releasing our annual “Most Important Women in Weed” list for 2020. This list includes women in the industry that have collectively moved the industry forward with all of their hard work, continuous dedication and effort.

This year we opened up the list for nominations and received almost a thousand nominees. After consideration of each, we have developed what we feel is one of the most inclusive and carefully curated lists of the most accomplished and impressive women in the cannabis industry.

As we could not name them all, we would like to thank and celebrate all of the women who have dedicated their precious time to the advancement of cannabis globally.

It is because of each one of these ladies that this industry remains in the lead above all others as far as female leadership is concerned.

This list is in no special order. Each one of these women provide a great contribution to the cannabis industry in their own unique and badass way.

Thank you to every one of you for all that you do!

The “List”

Dr. Chanda Macias

Yvonne DeLaRosa Green

Mara Gordon

Rosie Mattio

Shawna McGregor

Lori Ferrara

Gaynell Rogers

Stormy Simon

Trista Okel 

Lori Ajax

Amy Dawn Bourlon-Hilterbran

Kim Rivers

Amanda Soens

Dona Frank

Kat King

Sara Payan

Hannah Daphna

Sandra Castaneda

Erin Gore

Wendy Kornberg

Kristin Nevedal

Wendy Turner

Parisa Rad

Brittany Nicholson

Emily Paxhia

Jessica Billingsley 

Gia Moron

Andrea Brooks

Tahira Rehmatullah

Tracey Mason

Lindy Snyder

Jasmine Rose Gunderson

Shannon Hattan

Adelia Carrillo

Karen Petersen

Wanda James

Barbara Blaser

Ophelia Chong

Amanda Ostrowitz

Pamela Nicole Epstein

Melissa Mentele

Jamie Cooper

Sarah Remesch

Jessie Gill

Erica Daniels

Lizzy Jeff

Lelehnia DuBois

Whitney Beatty

Dr. Michele Ross

Manndie Tingler

Chef Lauren Gockley

Kyra Reed

Jamie Evans

Kristin Jordan

Ellie Siegel 

Sara Brittany Somerset

Linda Marsicano

Heidi Groshelle

Amber Senter

Nique Pichette

Jennifer Price

Molly Peckler 

Bonita Money

Susan Hwang

Judy Yee

Julie Chiarello

Leah Heis

Leslie Andrachuk

Terra Carver

Nancy Whiteman

Luna Stower

Karen Paull and Wendy Robbins

Beth Stavola

Alison Gordon

Penny Green

Sara Gullickson

Dr. Lakisha Jenkins

Pamela Hadfield

Jessica Peters

Dr. Rachel Knox and Dr. Jessica Knox

Tiffany Bowden

Mary Jane Gibson

Michelle Janikian

Dr. Uma Dhanabalan

Taylor Blake

AC Braddock

Kerri Accardi

Heather Sobel

Betty Aldworth

Cathy Jordan

Suzanne Sisley

Nina Parks

Eliza Nova Maroney

Selena Xochitl Martinez

Angelika Penuela-Ruiz

Sarah Mitra Payan

Gretchen Gailey

Nikki Lastreto

Ann Lawrence

Sheena Shiravi

Christina Ianuzzi

Kassandra Frederique

Shannon Buyers

Celia Tapp

Kelly Archer

Katie Field

Randi Sether

Shannon Reed

Katrina Yolen

Ngiste Abebe

Brooke Westlake

Courtney Maltais

Katrina Tso

Anne Don0hoe

Alicia Rose Kelley

Dr. Jacqueline Harding, PhD 

Mary Pryor 

Dr. Uma Dhabalan

Olivia Mannix

Heather DeRose

Libby Cooper

Leslie Hoffman

Yvonne Perez Emerson


Again, thank you to all of the women who do so much in our industry day in and day out. Your work does not go unnoticed and is deeply appreciated.

Happy International Women’s Day to all women around the world!

Special shout out to our Green Market Report co-founders Debra Borchardt and Cynthia Salarizadeh on this day!

William SumnerAugust 15, 2019


Yesterday, Trulieve Cannabis Corp. (OTCMKTS: TCNNF) (CNSX: TRUL) announced the release of its second quarter financial results.

Year-over-year, Trulieve’s increased 149% from $23.3 million to $57.9 million. Keeping pace with revenue, operating expenses also rose from $6 million to 14.8 million, representing a 146% increase. Gross profit was $37.6 million, and the gross profit margin was 65%. Adjusted EBITDA was $31.6 million.

A considerable amount of the company’s growth was due to a rise in the number of medical cannabis patients in Florida, which increased by 19%. Driving patient growth was the introduction of cannabis flower to market, which accounted for 50% of total product sales in the state for the second quarter. As of June 30, 2019, there were 181,000 medical cannabis patients in Florida.

Quarterly Highlights

During the last quarter, Trulieve expanded its total cultivation capacity to 1.6 million square feet, completed its acquisition of The Healing Corner medical cannabis dispensary, closed a public debt offering of $70 million, and commenced trading on the OTCQX Best Market under the symbol TCNNF.

Additionally, the company’s founders extended a voluntary lock-up agreement of their 65,253,093 shares, or approximately 59% of shares outstanding on an as-converted basis, until July 2020.  Trulieve also closed its sale-leaseback transaction with Innovative Industrial Properties, Inc. to provide capital for its Holyoke, Massachusetts cultivation and processing site.

“Our strong financial results for the quarter combined with our operational and foundational evolution illustrates that Trulieve is not just a cannabis company, but an organization that possesses the key fundamentals expected of leading companies across all industries,” said Kim Rivers, CEO of Trulieve. “By continuing to focus on operational efficiencies, maintaining sound financial discipline, and leveraging our strong brand awareness and patient loyalty within current markets and in future expansion initiatives, we expect our efforts to translate to new strong results throughout the remainder of 2019.”

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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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