Walker spoke with Salon about how long he waited to report this story, how the members of "The Syndicate" gamed the medical marijuana system, and what it would take for federal legalization to actually work. In his new podcast "The Syndicate," journalist Chris Walker goes beyond some of the case's flashy details, speaking to both the members of the criminal organization and the law enforcement agents who took them down, and uncovers how the push for legal marijuana in some states actually drives up black market demand nationally. For almost five years, the group had fooled regulators overseeing Colorado's medical marijuana industry by operating seemingly legitimate growhouses, all the while trafficking its harvests out of state using cars - and skydiving planes. All rights reserved.In October 2014, SWAT team officers and DEA agents kicked down the doors of 32 people around Denver, all members of a massive marijuana-smuggling ring. Benzinga does not provide investment advice.
Mellow: The New THC-And-CBD-Infused Ice Cream You Have To Try New Cannabis Products: A Hemp Spirit, A New Jane West Collab, CBD From Citrus Peels I believe that the talents and experience of our teams coming together give us the opportunity to become a dominant player throughout California and help shape how the industry evolves as it becomes increasingly mainstream."Ĭlick here for options trades from Benzinga
Both of our teams have shared a very similar vision for how to expand quality product offerings and a unique retail experience across the state. "Gaby has been a significant player in creating high quality cannabis products with an eye towards sustainability. “Mankind has long been known as one of the most prominent cannabis dispensaries in California and has a unique approach to product curation and customer experience that has set it apart from other dispensaries," he added. voting to remove cannabis from Schedule IV, showing that cannabis has medicinal value, we are seeing our industry take a huge step forward for legalization, and indeed global drug reform,” he said, calling the timing of GABY’s acquisition as serendipitous. “This is an exciting week for cannabis, with the MORE Act going before the house and the U.N. Schmachtenberger also celebrated the move. "GABY survived," she said. "The story of how we did this, and moreover how we plan to thrive in light of our expansion sets us apart from other operators.”
Many cannabis operators who entered the "congested" California maket in 2019 on the heels of adult legalization "didn’t make it through," Micallef explained. "California is like no other market in the U.S.: there are no dominant players at present, and many investors and Multi State Operators (MSOs) have stayed out of the market due to the cumbersome legislation, high taxation and the illicit market posing such a challenge." “Investors moving into or returning to the cannabis market are going to be looking at markets with the greatest opportunities and for the companies with the ability to execute," Micallef added. GABY founder and CEO Margot Micallef highlighted the excitement around the California cannabis market, as new investors move into the space.
Proceeds from the private placement are expected to be used to fund the merger with Mankind, the company’s pro forma business plan, and other general corporate activities. According to the company, roughly 50% of the money has already been committed. The placement is expected to close around Dec. 21. It was subscribed by a syndicate that includes Haywood Securities. Mankind’s senior management team will also join GABY’s senior management team.Ī brokered private placement of up to C$11.0 million ($8.5 million) - lead by Mackie Research Capital Corporation - was also announced. In addition, Mankind CEO and co-founder James Schmachtenberger will become chief strategy officer of GABY.