From building brands to advocating for social equity, women are breaking barriers, driving innovation and championing equity in the cannabis industry.

MJBizCon highlights women driving diversity in cannabis is a post from: MJBizDaily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

When Ramez Maxemous, a.k.a. Max, tells you he’s a pharmacist turned dispensary owner, you might raise an eyebrow. After all, it’s not every day someone trades prescription pads for pre-rolls. But for Max, who spent two decades behind the counter of a Newark pharmacy, the shift wasn’t about chasing a trend — it was about […]

The post URB’N Dispensary: From pharmacist to cannabist appeared first on Leafly.

The Illinois Cannabis Regulation Oversight Office (CROO) announced on Feb. 7 that it launched its Cannabis Disparity and Availability Study, which tasks a contract group to find examples of discrimination within the local cannabis industry.

According to CROO, the study “will collect and analyze data and report on whether discrimination exists in the Illinois cannabis industry,” CROO states on its website. “If there is a finding that discrimination exists, the Disparity Study will evaluate the impact of the discrimination on the State and its residents regarding entering and participating in the State’s cannabis industry. The Disparity Study will include recommendations for reducing or eliminating any identified barriers to entry.“

The study will examine laws and court cases that involve cannabis and cannabis and disparity studies, conduct interviews and create focus groups for public input, and compile data in relation to the state’s cannabis application process and business information.

A final report is required to be sent to the General Assembly and governor within 12 months, including any “potential remedies” to amend current cannabis regulation. “This effort is a vital assessment of the state’s cannabis social equity licensing system,” said Acting CROO Officer Erin Johnson. “We look forward to seeing a final report that truly incorporates the voices of Illinois social equity applicants and our new cannabis businesses.”

This comes nearly one year since the state issued a request to find someone to conduct the Disparity Study in Feb. 2022. This led to the hiring of the Nerevu Group, which is a minority- and women-owned contractor group based throughout Illinois, as well as some out-of-state locations.

“Along with our partners, Nerevu is honored to support CROO, IDFPR and IDOA in building an even more inclusive and equitable cannabis industry,” said Nerevu Group Founder and President Reuben Cummings. “This study is essential in identifying potential disparities and suitable remedies. We are excited to initiate this project and look forward to connecting with the greater cannabis community.”

Legal adult-use cannabis sales began in 2020, and in July 2022, Gov. J.B. Pritzker announced that 149 condition state licenses would be issued and available for social equity applicants. “Illinois is leading the way in addressing the War on Drugs as no state has before, and dispensary ownership that reflects our state’s diversity is a product of that commitment,” said Pritzker. “These licenses represent a significant step toward accountability for the decades of injustice preceding cannabis legalization. Illinois will continue to deliver on the promises of putting equity at the forefront of this process.”

Just a few months later, two of the state’s first social equity cannabis dispensaries, Ivy Hall Damen and Green Rose Dispensary, opened in November 2022 in Chicago.

According to Nigel Dandridge, the co-founder of Ivy Hall Damen, it’s taken a long time for his business to open up. “We’ve been working to get a seat at the table for a while now, and we’re finally able to do that,” said Dandridge. “When this industry first opened up, we didn’t see anyone in our community benefiting, or even being able to participate. So it was kind of hypocritical. I think it’s important that we can show you what we’re doing. We want everyone to benefit. Our staff’s been working hard, and we’re just excited to share it with everyone.”

Falling in line with other states in the U.S., Illinois Rep. La Shawn Ford recently introduced House Bill 1 to legalize psychedelics in January. Ford’s bill would allow residents 18 years and older to seek out supervised psychedelic therapy. “I want to be clear that this is a health measure. My proposal does not allow retail sales of psilocybin outside of a regulated therapeutic setting and ensures that medicines purchased for therapeutic use at a service center must be used under medical supervision, and cannot be taken home,” Ford said. “Only licensed facilitators will be allowed to provide treatment at closely regulated and licensed healing centers, approved health care facilities, in hospice, or at a pre-approved patient residence.”

The post Illinois Announces Launch of Cannabis Disparity Study appeared first on High Times.

This story was republished with permission from Crain’s Chicago and written by John Pletz. 

The value of a cannabis dispensary just isn’t what it used to be.

Six months ago, Planet 13 (OTC: PLNHF), a Las Vegas-based marijuana company, announced it would pull the trigger on its option to buy out its social-equity partner in an Illinois cannabis dispensary in a $2.9 million transaction. By the time the deal closed yesterday, the value had dropped by $1 million because of the steep downdraft in the stocks of cannabis companies.

Planet 13 shares are now trading at just 88 cents, compared with $1.98 on Aug. 4, when it inked the deal with entrepreneur Frank Cowan to buy out his ownership in their retail license. Cowan received $866,250 in cash, along with 1 million shares, for his 51% stake in the license.

Marijuana stocks have fallen precipitously in recent months as interest rates rose, cannabis prices fell and prospects faded for congressional action that would loosen restrictions nationally on the cannabis industry.

Deals are getting renegotiated—or scrapped. Last month, Miami-based Ayr Wellness, a publicly traded company, called off its $55 million purchase of two Chicago dispensaries operated by Dispensary 33.

The declines in stock prices and canceled deals will impact the value of 192 new retail licenses that have been issued in Illinois. Under state rules, holders haven’t been able to sell their licenses until their stores are open. At least one owner has sued to challenge those rules in a case that’s still working its way through Cook County Circuit Court.

Cowan, meanwhile, says he plans to stay with Planet 13, which is building out a dispensary in Waukegan that’s expected to open this summer. And he may well come out OK financially, given some time: He can’t sell his 1 million shares right away, due to a six-month lockup period, and the shares vest over 12 months.

The post Cannabis Dispensary Deals Show How Prices Are Falling appeared first on Green Market Report.