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New Mexico: Health Secretary Balks At Medical Cannabis Expansion

Santa Fe: Health Secretary Lynn Gallagher has agreed to proposed changes in the state’s medical cannabis law that would permit patients with obstructive sleep apnea to access marijuana; but she rejected calls to expand access to patients with other debilitating conditions, including Tourette’s syndrome (TS) and opioid dependency.

“I cannot say with any degree of confidence that the use of cannabis for the treatment of opioid dependence and its symptoms would be either safe or effective,” Secretary Gallagher opined in a signed decision. She also rejected recommendations to permit the use of cannabis for the treatment of eczema, muscular dystrophy, psoriasis, or Tourette’s syndrome.

A number of case reports and clinical trials report that THC can mitigate symptoms of TS. Cannabis use has also been associated with improved outcomes in opioid-dependent subjects undergoing outpatient treatment. Among chronic pain patients enrolled in medical cannabis programs, the use of opioids typically is reduced or eliminated over time.

Original Press Release

 

About Michael King Cannabis

Michael King is an experienced cannabis professional out of Palm Springs with a background in finance, private equity, real estate and consulting. He is currently a principal in one of the leading Cannabis consulting firms in the country.

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Canadian Cannabis Company Captor Capital Buys San Jose Dispensary for $6 Million

Leading Santa Cruz Dispensary Acquired by Captor Capital

Adding Chai Cannabis continues to increase presence in California retail cannabis market September 18, 2018

TORONTO, Sept. 18, 2018 (GLOBE NEWSWIRE) — Captor Capital Corp. (“Captor” or the “Company”) (CSE: CPTR; FRANKFURT: NMV;USOTC:NWURF) announced today it has completed its previously announced acquisition of a dispensary in Santa Cruz, California, Chai Cannabis Inc. (“Chai”). Chai also possesses a license permitting cannabis delivery within the greater Santa Cruz area. Adding this dispensary, one of the most popular in the area (unaudited revenues of USD$8.4 in 2017), is expected to materially increase total revenues from Captor’s retail cannabis investments.

Chai was acquired for a total consideration of USD$6,015,000, of which USD$4,390,950 was payable in cash closing, USD$721,800 of which was in the form of a promissory note and USD$902,250 was paid in shares of Captor. The portion of the consideration paid in Captor shares was converted into approximately C$1,187,722 and 7,662,722 Captor Shares were issued at a deemed issue price of $0.155.

Dispensary renovations are set to begin shortly that will triple Chai’s sales floor space. The newly renovated space will allow Chai to carry a much wider range of flowers, edibles, extracts, and other cannabis products. Chai will remain open during the renovations and it is not expected to impact the dispensary’s operations. Manager of Chai, Josh Lechner, has been successfully operating the dispensary since it opened in 2014 and will continue on in this role.

The Chai brand adds a unique retail experience to the consumer which complements Captor’s premium branded MedMen (MMEN.CN), stores in West Hollywood and Santa Ana. The acquisition of Chai continues Captor’s business plan to aggressively invest in California’s retail; cannabis industry. Captor’s investment in this profitable dispensary represents a fantastic growth opportunity. We believe the Santa Cruz area with more than 4 million tourists visiting each year will become a growing retail cannabis market.”

About Captor Capital

Captor Capital Corp. is a Canadian firm focused on the cannabis sector listed on the Canadian Securities Exchange, the OTC, and the Frankfurt Stock Exchange. A vertically integrated cannabis company, Captor provides recreational and medical marijuana based products to consumers via its leading brands and dispensary locations. Listed on the Canadian Securities Exchange, the OTCUSA, and the Frankfurt Stock Exchange, Captor owns and operates advanced growing facilities which produce consistent high-quality contaminant free marijuana for its customers, as well as other high demand cannabis-based goods for consumption. 
The company follows a strategy of acquiring cash flowing established companies and organizations with growth potential that require capital to scale. Captor currently has a number of revenue generating cannabis investments including two wholly owned branded MedMen dispensaries – the world famous West Hollywood location and the showpiece Orange County dispensary in Santa Ana. Captor Capital is currently looking at additional revenue generating investments in the cannabis space and will be updating the market in due course.

 

Original Press Release


About Michael King

Michael King is an experienced professional with a background in finance, private equity, real estate and consulting. He is currently a principal in one of the leading Cannabis consulting firms in the country based out of Palm Springs — Kings Garden Inc.

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Community outreach helping cannabis companies - Michael King Cannabis Palm Springs

Community outreach helping cannabis companies gain edge on rivals, attract customers

Article Published by: mjbizdaily.com

Cannabis companies nationwide are finding they can reap generous rewards from giving to their local communities.

Being a good corporate citizen can make it easier for marijuana businesses to work with regulators and local officials, stand out from competitors and attract new customers and high-quality employees, according to industry executives and experts on corporate giving.

There are a variety of ways cannabis companies can give back to their communities, ranging from providing volunteer time for events and projects to collecting food donations.

And with U.S. cannabis retail sales estimated to reach between $8 billion and $10 billion in 2018, many MJ businesses have room in their budgets to cut checks to cause-driven organizations.

“Giving back has always been a part of my life, but part of my mission is also breaking stereotypes about people who use cannabis as not being contributing members to society,” said Annette Atkinson, owner of HWY420, a Washington state marijuana retailer that has been recognized for its charitable giving.

“If I can increase the population that believes marijuana is an OK alternative to alcohol and opioids through showing that people who use marijuana are not horrible people, then on the business side, I think that will help me.”

In some states, giving back isn’t just good business; it’s required to even open for business.

In 2016, Denver started requiring applicants for retail marijuana licenses – and those seeking to renew their permits – to submit “community engagement” plans.

The idea was to “create positive impacts in the neighborhoods where the licensed premises are located.”

Some options for companies include:

  • Neighborhood Beautification.
  • Increasing access to healthy food.
  • Homelessness assistance.
  • Improving connectivity and transportation.

Municipalities such as Oakland, California, and Thornton, Colorado, also have adopted requirements aimed at ensuring the marijuana industry creates social benefits.

Similarly, Pennsylvania, Ohio and other states rolling out new marijuana markets are introducing merit-based application programs as well, making community outreach and engagement increasingly important in the industry, said Courtney Mathis, president, and co-founder of KindColorado.

Denver-based KindColorado helps cannabis companies in the state strategize how to connect with neighborhood groups and nonprofits.

Among other activities, KindColorado has organized opportunities for marijuana company employees to pull weeds alongside refugee farmers, serve food for women struggling with poverty and fund senior-focused food banks.

“Cannabis companies are really becoming a part of their communities, and they feel really lucky about that,” said Kelly Perez, co-founder, and CEO of KindColorado.

“It isn’t about hitting licensing requirements. It’s about getting to serve a community where you don’t have to be in the shadows anymore: Coming out, standing tall and using your privilege and opportunity to be an asset.”


About Michael King

Michael King is an experienced professional with a background in finance, private equity, real estate and consulting. He is currently a principal in one of the leading Cannabis consulting firms in the country based out of Palm Springs — Kings Garden Inc.

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