Firms seek state sales

De­spite law, na­tional com­pa­nies eye lo­cal mar­i­juana mar­ket

Baltimore Sun Sunday - - FRONT PAGE -

Na­tional cannabis com­pa­nies ea­ger to ex­pand their share of the grow­ing U.S. med­i­cal mar­i­juana in­dus­try are poised to ac­quire com­pa­nies with Mary­land li­censes de­spite a state rule that lim­its such con­sol­i­da­tion and a new law bar­ring any own­er­ship changes for an­other year.

A Bal­ti­more Sun in­ves­ti­ga­tion has found that sev­eral out-of-state firms have told in­vestors they are mov­ing ahead with deals to take over Mary­land mar­i­juana com­pa­nies by the end of this year.

For in­stance, Mas­sachusetts-based Cu­raleaf, which has two of its own li­censes in Mary­land, has of­fered $30 mil­lion to ac­quire a small Fred­er­ick County com­pany au­tho­rized to grow, process and sell cannabis.

Other large, na­tional com­pa­nies — MedMen, MPX and GTI — also have pend­ing deals for Mary­land firms. Their plans are rais­ing con­cerns that com­pa­nies are try­ing to mo­nop­o­lize the Mary­land mar­ket.

And some ques­tion whether the Mary­land Med­i­cal Cannabis Com­mis­sion — which was un­aware of three of the deals See CANNABIS , page 26

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