Flickr / Mark / (CC BY 2.0)
Another losing applicant for a coveted medical marijuana license has sued the Maryland Medical Cannabis Commission, arguing the panel illegally ignored the racial background of applicants and left minorities out of the process.
A lawsuit filed Monday morning in Baltimore Circuit Court also alleged the commission unconstitutionally favored in-state companies and failed to make sure winning bidders would have the money to execute their plans.
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The North American Marijuana Index, a stock index that tracks the top performing cannabis stocks in the U.S. and Canada, decreased 15% in May as stocks sold off in both markets. This marks the worst performing month for the North American Marijuana Index since December 2015.
On May 31, 2017, the Washington State Liquor and Cannabis Board announced that it had chosen Franwell as the Apparent Successful Vendor to replace BiotrackTHC, the state’s current marijuana traceability contractor. With Franwell scoring the highest out of the seven bids submitted, the state will now proceed by negotiating the contract with the company.
On June 1, 2017, High Times announced that controlling interest in the company had been acquired by 20 investors, a group comprised of cannabis industry members, entrepreneurs and entertainment veterans. Oreva Capital, a Los Angeles-based investment firm, led the High Times acquisition, valuing the company at $70 million. The company will now operate as High Times Holding Company.
