"The Illinois cannabis program is structured in such a way that we believe it's in the best interest of our company, staff, customers and medical patients to join a cultivator. We are excited to add our own flavor to the mix and help build a great cannabis company that is well positioned to thrive in the next phase of US cannabis legalization, " added Marks.ĪWH's state of the art cultivation and processing center in West Central Illinois, the produces its own popular line of Ozone branded cannabis products to licensed retailers across the state.ĪWH will keep the MOCA brand in place and operate both dispensaries as a separate brand.ĪWH is a market leading, vertically integrated operator with assets in Illinois, Michigan, Ohio, Massachusetts and New Jersey. IS&P locations in Springfield and Collinsville (the top grossing dispensary in the state) serve hundreds of patients and customers each week. The company will continue to seek new acquisitions and partnership opportunities to reach the state limit of 10 licenses per ownership group.ĪWH currently owns and operates two of Illinois' most successful cannabis dispensaries under the IS&P brand which led to the expansion into Illinois' largest and most competitive cannabis market. The addition of the two MOCA properties would give AWH six retail licenses in Illinois. "We are pleased to continue to have access to capital and be fully financed to build out our flagship retail locations and scale grow operations in our five states of focus," said Kurtin. Of the several partnerships we considered, AWH made the most sense for us in terms of their state and national size, growth trajectory, and company culture," said MOCA founder Danny Marks.ĪWH, one of the fastest growing cannabis companies in the U.S., is also announcing the final closing of its latest funding round at $68.2 million, of which $41 million is new capital that will be used to further the company's expansion of retail and grow operations. They have a clear, focused strategy and a nimble, ambitious team. Today the location serves both medical and recreational customers and recently opened a new recreational-only location in River North. MOCA is one of Chicago's original cannabis dispensaries, first opening to serve medical patients in Chicago's Logan Square neighborhood in February, 2016. MOCA has been a leading player in the Chicago market, and we are excited to pair it with our Illinois Supply & Provisions (IS&P) dispensaries which include the top performing retail outlet in the state in Collinsville," said AWH Founder Abner Kurtin. "We are pleased to enter the third largest city in the United States though our pending purchase of Modern Cannabis. The agreement will allow AWH to take ownership of both MOCA - Modern Cannabis dispensaries following approval from the Illinois Department of Financial and Professional Regulation. 25, 2020 /PRNewswire/ - AWH, a multi-state, vertically integrated cannabis operator, announced its intent to enter Illinois' largest cannabis market with an agreement to acquire a pair of well-known dispensaries in two iconic Chicago neighborhoods – Logan Square and River North.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |