Hi,

The big multi-state operators (MSOs) are always adjusting to the fragmented cannabis market. In New York, for instance, MSOs have been invited to participate and help fund the state's ambitious $200M equity plan. Smaller, non-equity businesses are bracing for the impact of big MSOs entering the fray while they contend with the gray market.

Trulieve decided to shut down operations in Massachusetts and reduce its presence in California. Last year, Trulieve reduced its footprint in Nevada and California and cut its workforce by about 16%. Meanwhile, in Florida, where Trulieve has a presence, their $38M investment in the legalization campaign seems to be bearing fruit. But it's not out of the woods yet as Florida is challenging the ballot initiative as being too broad.

Oh, and did I mention Minnesota officially legalized cannabis? Yes, the Land of 10,000 Lakes officially legalized cannabis, becoming the 23rd state to do so. Looks like Minnesota Nice just got even nicer! :)

Feel free to subscribe to our Cannabis or CBD News Roundups.

Thanks and I hope you have a wondrous week,
Jessica

05/30/2023
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Entourage Health Corp. (TSX-V: ENTG) (OTCQX: ETRGF) reports 24% sequential revenue increase in Q1 2023, driven by medical cannabis and pre-roll sales.
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North Carolina state committee considers medical marijuana legalization bill. Activists are optimistic about the state embracing MMJ.
Canopy Growth [TSX:WEED, Nasdaq:CGC] acquired a 19.99% stake in Indiva, gaining control of Wana distribution. Exclusive license, subscribes for 37.23M shares, strengthens ownership, accelerates innovation.

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CuraScientific Corp. (OTC PINK: CSTF) acquires Chad Enterprises LLC's microbusiness cannabis license for $600K, expanding customer acquisition and delivery routes.
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New York Legislature and Gov. Kathy Hochul extend marijuana supply chain deadline, pushing conditional permits expiration to June 1, 2024.
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