GrowGeneration Looks East with New York Closer to Legalizing Cannabis
GrowGeneration CEO Darren Lampert informed CNBC on Thursday that the company is concentrating on expanding on the East Coast as New York State moves closer to legalizing recreational marijuana. New York lawmakers could vote on a bill to legalize marijuana in the Assembly as soon as the following week, the Associated Press reviews. If approved, the bill is expected to be signed by the Democratic governor. Subsequently, marijuana in New Jersey is now legal for recreational use, although the state continues to finalize guidelines and regulations for sales. GrowGeneration, which operates dozens of grow establishments across the country, plans to open its doors soon in New Jersey. GrowGeneration operates more than 50 development facilities in 12 states. Most are located in the western part of the country, and many in California. The company operates a handful of stores in Maine, Florida and Massachusetts. The company sells the "picks and shovels" merchandise, reminiscent of hydroponic lights and supplies, used to grow cannabis indoors, Lampert said. On Wednesday, GrowGeneration reported annual revenue of $ 193.Zero million in 2020, up 143% from the previous year. It was the third year in a row that the company posted triple-digit revenue growth. Executives expect companies to double again this year.
Billionaire William "Beau" Wrigley Jr's Parallel and Jay-Z-backed Californian marijuana producer TPCO Holdings have also struck related deals to register their shares. We encourage you to use feedback to interact with different users, share your perspective, and ask questions of the authors and each other. Enrich the conversation, don't ruin it. Stay focused. On the monitor. Only post materials that are related to the topic being discussed. Be respectful. Even unfavorable opinions will be framed positively and diplomatically. Stay away from profanity, slander or private assault directed at an author or another user. Racism, sexism and other types of discrimination will not be tolerated. Use the usual writing style. Adopt the punctuation and the upper and lower instances. Comments written in capital letters. Containing the excessive use of symbols will probably be eliminated. Notice: Spam and / or promotional messages. Comments containing links can be removed. Even phone numbers, email addresses, links to private or business websites, Skype / Telegram / WhatsApp addresses, etc. will be removed. (including hyperlinks to teams); Self-promotional material or requests related to business or public relations (i.e., contact me for signals / recommendations, etc.) and / or other comment that includes personal contact details or promotion will likely be removed as well. Additionally, any of the violations listed above could result in the suspension of your account. Doxxing. We do not allow any personal or private contact or other information to be shared about any particular person or organization. This can lead to instant suspension of the commenter and their account. Don't monopolize the conversation. We recognize ardor and conviction, but we also strongly believe in giving everyone the opportunity to express their point of view. Later, along with civilized interaction, we count on commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are upset or offended. If we receive complaints about people taking over a thread or forum, we reserve the right to exclude them from rankings, without recourse. Only comments in English can be allowed.
The company provides customers with ways to find marijuana stores to purchase the cannabis strains they want, offers a collection and supply service, and publishes reviews on different cannabis products. More than half of all North American cannabis dispensaries use the Leafly platform for e-commerce, promotion, and other services. Prospects for federal legalization and shutdowns triggered by a pandemic have raised visits to Leafly's site to more than 220 million last year, up 12% from 2019, making it the most visited weed website in the world.. The deal, if completed, would be the latest in a nascent industry that has caught the clean-and-check frenzy. The parent company of rival Weedmaps struck a clean scrutiny deal in December to list on the Nasdaq. Leafly intends to list on the Nasdaq below the 'LFLY' trading image, one of the people said. Blank check corporations are publicly traded corporations that use the funds from their preliminary public elections to buy private companies, making them public in the method.
Leafly, the high-cannabis content website, is in talks to merge with clean-control firm Merida Merger Corp I in a deal that could be worth the combined company more than $ 530 million, three people familiar with it told Reuters. the case. The clean testing company is owned by Merida Capital Holdings, considered one of Leafly's largest backers, whose site visits have seen a meteoric rise due to loosening of regulations in the United States and increased use of marijuana. It is very possible that a deal will be announced next week, the source said, warning that the talks may nevertheless fail. After the merger, Mérida will occupy at least one position on the combined firm's board of directors, while Leafly's workforce will continue to be led by the head of the government, Yoko Miyashita, the sources said, declining to be named as talks are still pending. they were confidential. Leafly and Merida did not instantly respond to a comment. The company plans to use the proceeds from the deal in part to invest more in its East Coast company, the sources said.
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