Marijuana entrepreneur Marvina Thomas is the first Black woman to own a legal cannabis store in Arizona. Thomas, who also owns and operates a legal marijuana outlet in Las Cruces, New Mexico, “entered into an agreement to operate and acquire” the Arizona Wellness Center in Safford, spokesperson Sadie Thompson told MJBizDaily. That permit was one of six new licenses issued earlier this month, Thompson said. David Fowler, co-founder and executive director of the Marijuana Industry Trade Association of Arizona (MITA-AZ) , confirmed to MJBizDaily that Thomas is… Read more.
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A bill proposed in Arizona would allow patients with autism and post-traumatic stress disorder (PTSD) to access medical cannabis products in the state, the AZ Mirror reports. The measure passed the House Health and Human Services Committee 7-2 on Monday. Earlier this month, the legislation was approved by a bipartisan 24-6 vote in the state Senate and will move next to the full House after approval by the Health and Human Services Committee. During testimony on the measure, Aaron Jacobs, the father of a… Read more.
Jupiter Research, a marijuana vape cartridge subsidiary of Phoenix-based Tilt Holdings, refinanced and extended its revolving credit facility. The amount of credit available to Jupiter increased from $10 million to $12.5 million, according to a Tuesday news release. The debt now matures July 21, 2024, instead of July 2023. The interest rate is the prime rate plus 3%. The funds are secured against Jupiter’s property, inventory and accounts receivable as well as through a $6 million guaranty from Tilt. Jupiter initially entered… Read more.
Women-led multi-state operator The Flower Shop is focused on curating a larger selection of cannabis flower and products in a growing number of state markets. The company showcases artisan and craft cannabis products in a reimagined retail setting tailored to appeal to both men and women. “We operate in Arizona, Utah, New Jersey, and we will be going to Florida—hopefully soon,” says President of The Flower Shop Greta Brandt, as the company is currently securing licensing in the newer states. As president… Read more.