Curaleaf Holdings (CURA.C) got the Massachusetts Cannabis Control Commission’s nod for their three final and two provisional adult-use licenses today.
The next step is to schedule their final inspections for the three licenses, which will then be followed by operational inspections. The entire process is expected to be complete in the next few months.
“We appreciate the work of the Cannabis Control Commission and the commission staff, and will continue to work collaboratively with them to move forward in securing approval on our final inspections. We have been proudly serving this community for two years as a medical company and are excited about this important step in the process toward receiving our adult-use licences,” said Joseph Lusardi, chief executive officer of Curaleaf.
The three final adult use licenses include a retail license to be paired with the present current medical retail location in Oxford, and two cultivation and manufacturing licenses with the current medical cultivation and manufacturing facility in Webster. The provisional licenses are for a retail location in Provincetown, which is expected to be the first location in Cape Cod, and a new retail location in Ware. Curaleaf is already in retail locations in Hanover and Oxford.
Florida now has 33.7% fresher breath
Smoking flower burns the throat and lungs, and adds to the risk of lung disease and various types of cancers. Vapes are at the centre of this week’s massive health scare in the United States, involving lipoid pneumonia, 450 hospitalizations and 3 deaths. Capsules and tinctures take an awfully long time to kick in and can be difficult to find the right type of dosage, and edibles give you a completely different and thoroughly weird body high that you may not have bargained for when you bought them.
Then there’s mints, which offer a small, controlled dose and fresh breath.
Curaleaf’s product line includes:
- Vape Oils & Concentrates
- Flower, Pre-rolls & Flower Pods
- Topical Lotions
- Capsules & Tinctures
Mints & Lozenges
Curaleaf is the first MSO to sell mint-flavoured cannabis tablets in Florida’s 26 dispensaries, joining their other 23 dispensaries in Connecticut, New Jersey, Maryland and New York. The slow-acting tablets offer patients convenience and portability, disintegrating on the tongue and entering the blood stream. The tablets come in childproof containers, and are compliant with Florida Department of Health regulations.
Curaleaf’s bad summer
It hasn’t been a good summer for the cannabis MSO.
First, back in July, the FDA was on their case about their claims of CBD’s restorative abilities, given that no actual definitive testing has been done on the chemical to prove it does what the company says it does.
The FDA’s letter cites numerous posts on the company’s social media pages as evidence of their claims about CBD.
- “A 2014 study showed that participants who received CBD oil experienced anti-anxiety and anti-depression effects from the oil.”
- A 2018 study showed that CBD offers quick relief of depression and anxiety symptoms and that the residual effects can last up to seven days.”
- “#ICBD to help lower anxiety . . ..”
The FDA’s letter says these “products are not generally recognized as safe and effective for the above referenced uses,” and that they “are offered for conditions that are not amenable to self-diagnosis and treatment by individuals who are not medical practitioners.”
Predictably enough, class action lawsuits followed as investors got pissed that their investment lost value in the wake of the FDA’s commentary. The lawsuits are still ongoing.
Today, though, Curaleaf is up $0.26 to close at $10.07, and a market cap of $3.4 billion.
—Joseph MortonDisclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.