It’s time for your Daily Hit of cannabis financial news for January 7, 2020.
On The Site
Vireo Health International, Inc. (CNSX: VREO)(OTCQX: VREOF) announced that workers at its wholly-owned subsidiary, MaryMed, LLC voted overwhelmingly to ratify a Collective Bargaining Agreement and officially join the ranks of United Food and Commercial Workers Local 27 (UFCW27).
The company said that the three-year agreement will be the first medical cannabis union contract ratified in the State of Maryland. The contract will cover employees working in Vireo’s 20,000 square-foot Hurlock, Maryland-based manufacturing facility, which supplies precisely formulated medical cannabis products to third-party dispensaries throughout the state.
With the start of a new legislative session kicking off this week, cannabis enthusiasts are hopeful for a year of progress on cannabis bills like the SAFE Act to jumpstart the industry out of its current lull and bring more legitimacy to its legalization movement. Well, keep waiting.
Despite Congress’ holiday break, President Donald J. Trump has been impeached by the House of Representatives and the Senate is going to have to act at some point, leaving cannabis and every other possible issue on the back burner. I take that back, cannabis won’t be on the back burner, it won’t even be in the kitchen.
In Other News
1933 Industries Inc. (CSE: TGIF) (OTCQX: TGIFF) said that it has readied its California operations to begin manufacturing its line of proprietary CBD wellness products with full-spectrum CBD for the ever-growing California dispensary market, as well as debuting its Alternative Medicine Association (AMA)-branded THC products for the first time in that state.
With a cultivation area of approximately 10,000 sq. ft. and with an additional 10,000 sq. ft. of shared manufacturing and distribution space in the Los Angeles area, the California facility will serve as the Company’s main distribution hub for deliveries across the state. After a successful trial run of 30,000 units now completed, full spectrum CBD Canna Hemp™ products will be available at dispensaries later this month, once the products undergo required laboratory testing. Product offerings will include Canna Hemp™ relief creams, elixirs, lotions, capsules, vape pens and cartridges as well as Canna Hemp X™ recovery creams and elixirs. The Company anticipates its first harvest from the California facility during the first week of February with a second harvest the following week. The Company expects monthly harvests to yield approximately 100 lbs. of craft-grown flower or its Blonde™ and AMA brands as well as concentrates.
C3 Industries (C3), a premium cannabis producer and retailer headquartered in Ann Arbor, has completed ground-up construction of a new indoor cannabis cultivation and manufacturing facility in Webberville, Michigan. The facility began operating in November and is expected to reach full production capacity in Q1 2020.
Sweet Dirt LLC, a Maine-based cannabis company, and ArchSolar, a national provider of environmentally sustainable greenhouses, have partnered to build out a state-of-the-art 32,800 square foot extreme-light deprivation greenhouse.
Construction on the greenhouse will begin January 2020 and the facility will be located at Sweet Dirt’s headquarters in Eliot, Maine, where voters last November overwhelmingly approved an ordinance and licensing procedure allowing for adult use cannabis cultivation, manufacturing and retail operations.
New Dispensary For Franny’s
Franny’s Farmacy is opening the doors of their latest dispensary located at 2361 W Broad St #10 Athens, GA 30606 on Thursday, January 23rd. The Grand Opening lasts the entire weekend until Sunday, January 26th. North Carolina’s first female hemp farmer and Franny’s Farmacy Owner, Franny Tacy and CEO, Jeff Tacy will be on-site Thursday, January 23rd and Friday, January 24th to discuss the benefits of hemp-based products for adults, infants, and even pets.