Cannabis Briefs for August 27, 2024

•Houston, Texas-based Bayou City Hemp Company has rolled out its THC-infused beverage portfolio statewide across the Florida, Louisiana, and Tennessee markets. The lineup includes the Howdy, 8th Wonder, and Beach Break brands. Bayou City CEO Ben Meggs said further expansion is on the docket, with the company focused on introducing its brands nationally. SND caught up with Meggs for an interview earlier this year.

•Ayr Wellness has entered Connecticut’s cannabis market, opening its first medical and adult-use dispensary in Manchester. The dispensary, housed in a former Starbucks location, features a drive-through, which Ayr operates as an option for pick-up orders. The new location features cannabis from a variety of producers including Affinity, AGL, Curaleaf, and CTPharma, among others. This location marks Ayr’s first dispensary in the state.

•New York’s adult-use market has reached $500 million in sales, amid a statewide crackdown on illegal dispensaries. The announcement comes from John Kagia, the policy director for the state’s office of cannabis management. He said, as reported by the New York Post, that legal sales hit $529 million by mid-August. According to Kagia, roughly 40% of the state’s sales have occurred since the state’s crackdown on illicit shops began.

•California-based THC beverage company Nowadays has launched a new line of infused cocktails. The four new drinks all come in at 5-mg. per can and are available in Original, Spicy Lime, Citrus, and Berry, in both individual flavors and in a variety pack. Each 12-ounce serving contains fewer than 25 calories. Nowadays’ new THC cocktails are now available through the brand’s website where a 6-pack variety pack retails for $32. Wider availability will follow in September, with the company planning to launch a higher-potency 10-mg. variant in the fall.

•Intoxicating hemp products will remain legal in Missouri, as the state’s secretary of state Jay Ashcroft, denied a statewide ban set to go in effect on September 1. The ban, an executive order issued by governor Mike Parson, was shot down because it did not meet the statutory requirements for such an order. The governor’s office, however, has asserted that Ashcroft’s move was due to personal friction between the governor and secretary of state. The governor’s office has said that it will resubmit the executive order.

•Verano has completed the acquisition of three subsidiaries of the Cannabist Company. The deal was first announced in July and includes six dispensaries along with a cultivation and production facility in Virginia; and two dispensaries, one cultivation facility, and one production facility in Arizona. In all, Verano spent $105 million to acquire the new facilities. “Our entrance into Virginia provides near-term growth potential within the existing medical program, and adds yet another valuable market to our footprint with a high probability of adult-use in the near future,” said George Archos, Verano founder, chairman, and CEO.

Tagged : ayr, Bayou City Hemp Company, cannabis, Nowadays, Verano

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