Located just south of Worcester, Massachusetts, the Millbury dispensary serves both adult-use and medical customers. Its location along the Worcester-Providence Turnpike makes it a convenient place to shop for your medicinal marijuana. There is also a huge, private parking lot for customers.
Acquisition by Jushi Holdings Inc. (CSE: JUSH)
Founded in 2008 by Jim McLaughlin, Jushi Holdings is a vertically integrated multi-state cannabis operator. The company has cultivation, processing, and medical and adult use dispensary licenses. Its portfolio of cannabis assets include medicinal THC and CBD, vape products, and edibles. The company also has an equity interest in Dalitso LLC, a pharmaceutical processor for medical cannabis extracts.
The company has acquired a majority equity interest in Northern Cardinal Ventures, LLC, an Illinois-based cannabis company. The company was awarded a conditional retail dispensary license in Illinois through the state lottery process. It has four adult-use dispensaries in Illinois and one medical dispensary. Jushi will be an operational partner in Northern Cardinal. In addition, Jushi is focused on expanding the company's footprint in Pennsylvania, targeting the state's medical and adult-use markets. The company will also continue to evaluate opportunities for expansion in other states.
Jushi Holdings also operates cultivation facilities in North Las Vegas, Nevada. Its cultivation licenses were acquired through Franklin Bioscience NV, LLC. The company also has a manufacturing license for edibles in North Las Vegas. Jushi is also working with third-party extractors to sell Jushi branded products in Nevada's wholesale market.
The company's growth strategy is centered on targeting fast-growing adult-use markets. Jushi also targets medical markets with high populations, such as the Commonwealth of Virginia and Ohio. The company has affiliated subsidiaries in Pennsylvania, Massachusetts, and Virginia. Its products are currently available at Nature's Remedy partner dispensaries in these states. The company also recently launched branded cannabis products in Massachusetts. The company plans to increase its wholesale production in 2022. Jushi's products are also available at Apothecarium Nevada, a medical and adult-use dispensary.
The company has a retail presence in seven states. The company's dispensaries are located in Illinois, Massachusetts, Nevada, Pennsylvania, Virginia, and Ohio. The company plans to open several more medical dispensaries in these states. Jushi also operates two co-located medical dispensaries in Sauget, Illinois and Bloomington-Normal, Illinois. Jushi's management team is focused on building a diverse portfolio of cannabis assets. In addition to its retail presence, the company has a cultivation facility in North Las Vegas.
Locations in Massachusetts
Having recently received its provisional cultivation license from the Commonwealth, Nature's Remedy has set its sights on redefining the cannabis industry in Massachusetts. In an effort to help consumers, the company has teamed up with 612 Studios, a leading entertainment and media company, to develop Social Equity programs.
The company's mission is to provide customers with the best possible in-store experience. Its staff is trained and efficient, and the dispensary has state-of-the-art facilities. Currently, the company has four retail locations, three in Massachusetts and one in California. In addition, it has a host community agreement with the town of Grafton. In addition, Nature's Remedy has a final adult-use marijuana retail license from the Cannabis Control Commission. Moreover, it has other necessary government authorizations to operate a marijuana dispensary in Worcester, Massachusetts.
The company's website provides more details on the company's products, facilities, and history. It is also home to a full profile, which includes a list of notable accomplishments, as well as information on the company's social impact. Its mission is to provide consumers with an easy and comfortable in-store experience, and to positively impact people's well-being. In addition, the company's website offers a comprehensive FAQ section.
The company is also in the process of obtaining an appraisal for the value of its property, which will be used to calculate the right-of-first-refusal on any potential leasing of adjacent space. It also has a Host Community Agreement with the town of Grafton, and plans to expand its canopy at its current Lakeville location. Ultimately, the company's wholesale revenue will be driven by its expanded cultivation capacity and additional supply of product. In fact, the company plans to expand its wholesale revenue by the end of the year.
The company is also in the process or obtaining a non-profit certification for its state-of-the-art dispensary facilities. In addition, the company has an independent legal opinion to back its claims. The company's response to the above-mentioned "wot-mo-s-mo" is in line with 105 CMR 725, and its latest response to Question C.12 is in line with the guidance for Registered Marijuana Dispensaries on non-profit compliance.
Currently, Nature's Remedy operates two retail dispensaries in Massachusetts. One of these sites is located in Millbury and the other in Tyngsboro. The company is looking to expand the size of its facilities to increase production and wholesale revenue. The company plans to increase cultivation to 11,000 pounds per year in the second half of 2021. In addition, Nature's Remedy plans to expand its footprint to 32,500 square feet in the fourth quarter.
The company has a Host Community Agreement with the city of Lakeville. The company's cultivation facility includes state-of-the-art extraction and manufacturing capabilities. Nature's Remedy has projects in Lakeville, Rowley, Tyngsboro and Grafton.
Nature's Remedy has plans to increase cultivation capacity at its Lakeville Facility to 11,000 pounds per year. In addition, the company plans to sell excess inventory from its Lakeville Facility and increase wholesale revenue in the fourth quarter. Currently, the facility has a canopy of 19,500 square feet. The company anticipates adding 18,000 to 20,000 square feet of flower canopy to its facility by the end of the year.
In addition to the expansion plans for its Lakeville Facility, Nature's Remedy has plans to build a marijuana cultivation facility at Centech Park in North Grafton. The company has received a special permit from the city of Grafton for a medical marijuana grow facility. The facility will pay the city of Grafton a tax of 3% on retail sales. In addition, Nature's Remedy will donate $10,000 to a local community group. The company has also received approval from the Board of Selectmen in Grafton to operate a Registered Marijuana Dispensary (RMD) in Grafton.
As a result of the Nature's Remedy expansion plans, the company expects to issue up to 4.3 million fewer shares. The company estimates the average daily volume weighted price for the company's wholesale marijuana to be US$4.61 per pound. The company also expects to increase production capacity to 31,000 square feet of flower canopy by the end of the year. The company is evaluating other expansion opportunities.
Nature's Remedy is one of the largest marijuana companies in Massachusetts. The company is licensed to grow, process and sell marijuana to patients for medicinal purposes.
Regulatory compliance for Nature's remedy is important to the company. This is particularly true in Massachusetts where the government has implemented a new law that requires licensed marijuana producers and dispensaries to submit information to the Department of Public Health (DPH) before receiving a provisional cultivation license. The DPH has also issued guidance for registered marijuana dispensaries regarding non-profit compliance. Regulatory compliance is also a necessary factor in the company's efforts to expand its wholesale revenue.
A recent review of Nature's remedy's current business practices suggests that the company is in compliance with 105 CMR 725. Although the company has not been a director on the Board of Directors, it has responded to the requirements of the law in a number of ways. Specifically, it has updated its response to Question C.12 in a legal opinion and has issued guidance for registered marijuana dispensaries regarding their non-profit compliance. It has also filed a civil money penalty appeal with the Massachusetts Department of Justice and is in the process of obtaining an appraisal of the rental value of its Lakeville facility. It also plans to expand its wholesale revenue in the fourth quarter.
Nature's remedy's new facility would be about 35,000 to 40,000 square feet. It would be located on ten acres of land in Grafton, Massachusetts. It would have a canopy that would cover about 18,000 square feet. This would require the approval of the Department of Business Regulation (DBR) and other state regulatory agencies. A business evaluation would also be required for the project. The company plans to apply for out-of-state licenses and will also work to achieve accreditation from outside organizations.
The company has a Host Community Agreement with the town of Grafton. This agreement requires the company to make an annual filing with the SEDAR database. This filing also provides information on other risk factors that may impact the company's future business operations. Nature's remedy plans to expand its cultivation capacity in the fourth quarter, and to grow wholesale revenue. The company expects to generate about US$17.5 million to US$22.5 million in wholesale revenue in the fourth quarter.