Cannabis Joint Venture Secures Major Florida Deal Amid Trump Endorsement Of Marijuana Legalization
Private multi-state operators MINT Cannabis and Shango announced on Tuesday they have entered into a definitive agreement to acquire all membership interests in The Cannabist Company Holdings Inc.’s (Cboe CA: CBST) (OTCQX:CBSTF) (FSE: 3LP) Florida subsidiary, through a joint venture.
Why It Matters
The acquisition is anticipated to provide immediate scale for the MINT SHANGO JV in Florida via 14 dispensary locations, two cultivation and manufacturing facilities, all inventory and its MMTC license for a total consideration of $5 million.
SHANGO’s CEO Brandon Rexroad said the Sunshine State “has always been a prime target for our teams due to the unparalleled market dynamics and potential for depth in this state.”