MJardin selling Nevada cannabis grow facility for $35 million


Florida group trying to legalize adult-use cannabis sues over ballot proces

The group seeking to put an initiative on the 2020 ballot in Florida to legalize recreational marijuana, has sued the state in an effort to get more time to submit signatures. The group, Make it Legal Florida, alleges in a 57-page complaint filed in Leon County Circuit Court that a controversial election law enacted in July is unconstitutional in the way it imposes restrictions on the ballot initiative process. The group also argues the process essentially established a “stealth deadline” of Jan. 2, 2020, for submitting the 766,200 signatures required to place the initiative on the ballot.

– Jeff Smith

MJardin selling Nevada marijuana grow facility for $35 million

MJardin Group, a cannabis production company with offices in Denver and Toronto, on Thursday said it has agreed to sell its GreenMart of Nevada cultivation facility in Cheyenne to a division of Phoenix-based Harvest Health & Recreation. MJardin plans to use the proceeds to reduce its debt and for working capital. The company bought GreenMart in July.

For analysis and in-depth looks at the investment trends and deals driving the cannabis industry forward, sign up for our premium subscription service, Investor Intelligence.

Michigan presses Weedmaps on halting illegal cannabis ads

]Michigan regulators want California-based cannabis advertising company Weedmaps to honor a commitment not to run ads from illicit marijuana operations. Andrew Brisbo, director of Michigan’s Marijuana Regulatory Agency, said he’s been assured by Weedmaps that the company won’t enter contracts with MJ businesses “without validating they hold a state-level license,” Mlive.com reported. Earlier this year, Weedmaps promised it would not take advertisements from unlicensed cannabis retailers.

Missouri medical mariuana firm blames regulators for its closing

The Green Clinics, a Missouri medical marijuana business where patients are certified so they can apply for state MMJ cards, shut down its outlets across the state and blamed the state health department for the abrupt closures. “Due to other providers failing to follow (Missouri’s medical marijuana constitutional amendment) and its associated rules, and the (state health department’s) failure to enforce the law, The Green Clinics will close effective immediately,” the company wrote on a Facebook post, according to the Springfield News-Leader.