Medical marijuana cultivator to open 19 dispensaries

[zeebudz]

Here it comes, folks. Is Monsanto far behind?

Quote

A mid-Michigan medical marijuana cultivator plans to open 19 provisioning centers throughout the state.

The news comes as Green Peak Innovations LLC closes a more than $30 million debt round. The money borrowed will position the company to make its expansion into the burgeoning marijuana retail business in Michigan, according to a news release.

"Significant demand resulted in exceeding our planned funding goal in record time," CEO Jeff Radway said in a statement. "Our first priority is to solidify our position as the state’s premier cannabis company that supplies Michiganders with the safest, highest quality products."

Radway added that Green Peak hopes to take its business model to other states. Green Peak expects to open the first of its Skymint-branded dispensaries in the next few months.

The company has a 60,000-square-foot growing facility at its headquarters in Windsor Township in the Harvest Park development at 6333 Lansing Road, and has plans to expand its footprint up to two times. it also has a research and development facility at 1669 E. Jolly Road.

The company is one of the largest owners of medical marijuana licenses from the Michigan Licensing and Regulatory Affairs Department. It has 12 Class C cultivator licenses, which each allow Green Peak to grow up to 1,500 plants, according to the department's website. It also has a processor license. The company says it has 19 pre-qualified provisioning center licenses, as well.

Green Peak's announcement comes as the Michigan medical marijuana industry has faced challenges with meeting patient demand. Many dispensaries are relying on caregivers to supply them with product while they await the cultivators' crop to mature.

 

https://www.detroitnews.com/story/business/2019/03/16/green-peak-innovations-open-19-michigan-medical-marijuana-dispensaries/3179789002/

[Restorium2]

At the end of the month when all the dispensaries have to go back to buying from a single source these 19 new dispensaries MIGHT make it. Right now with the diversified caregivers supply to dispensaries they wouldn't have a chance. 

I don't think they really understand how competitive it is right now here in Michigan. Dispo would eat their lunch.

[garyfisher]

13 hours ago, Restorium2 said:

At the end of the month when all the dispensaries have to go back to buying from a single source these 19 new dispensaries MIGHT make it. Right now with the diversified caregivers supply to dispensaries they wouldn't have a chance. 

I don't think they really understand how competitive it is right now here in Michigan. Dispo would eat their lunch.

is dispo still taking overage?  Do they make you fill out paperwork?

[Restorium2]

5 hours ago, garyfisher said:

is dispo still taking overage?  Do they make you fill out paperwork?

Yup, just look at their menu. Caregivers are killin' it. 

[shishka]

On 3/16/2019 at 11:14 AM, Restorium2 said:

At the end of the month when all the dispensaries have to go back to buying from a single source these 19 new dispensaries MIGHT make it. Right now with the diversified caregivers supply to dispensaries they wouldn't have a chance. 

I don't think they really understand how competitive it is right now here in Michigan. Dispo would eat their lunch.

The shops the have a grow or processing license will likely continue purchasing from caregivers. The ones that don’t will be at an unfair disadvantage for a while. 

[Restorium2]

16 minutes ago, shishka said:

The shops the have a grow or processing license will likely continue purchasing from caregivers. The ones that don’t will be at an unfair disadvantage for a while. 

Everything from the State grows was going for $300 an ounce. Do you think they will sell what they buy from caregivers for less than what they grew themselves? Doesn't seem like they would now does it?  

The only thing that makes any sense is that all the dispensaries get to buy from caregivers and have it tested themselves. Dispo already sends some out for testing. 

 

[zeebudz]

It's happening fast & quick. 

Cresco Labs Enters Florida Medical Cannabis Market with $120 Million Acquisition

Quote

Upon the closing of the Transaction, Cresco Labs will have 14 production facilities and 21 retail dispensaries operating with licenses to operate a total of 51 retail dispensaries across 10 states – Illinois, Pennsylvania, Ohio, Nevada, California, Arizona, Florida with New York, Maryland and Massachusetts pending approval. The Company’s products are currently on the shelves of over 250 dispensaries. Cresco Labs is operational in six of the seven most populated states in the country and has more than 140 million potential consumers which is 65% of the estimated total addressable US cannabis market.

 

https://www.newcannabisventures.com/cresco-labs-enters-florida-medical-cannabis-market-with-120-million-acquisition/

[Restorium2]

The large growers here found out it's easier to buy a grow license than supply the demand with something great AND affordable.