An intense and varied market has developed in Michigan, where some dispensaries attempt to compete on price where others strive to sell the best, highest quality product available.
120 new companies have entered the market, as 289 companies held cannabis licenses as of the end of December 2020.
As of the end of 2020, 205 companies had obtained cultivation licenses, whereas in July just 81 companies had cultivation licenses.
Michigan’s medical cannabis sales have dropped by $15 million on a monthly basis since July.
Michigan State University Cannabis Industry Association founder Matteo Marchan details how he formed the club, the companies he recruited for mentorship and support, and what it’s like entering a young industry with a signature product he is too young to consume.
Grown In checked in with Andrew Brisbo with a Friday afternoon interview to get a better understanding of what’s to come next.
Introduced in October, the ordinance has been furiously opposed by existing medical dispensary license holders since it inevitably forces five current license holders to either miss out on a Detroit recreational license or sell half their equity to Detroit residents.
MRA will not press for the Michigan Legislature to take up a bill to streamline state cannabis licenses in December’s lame duck session.
Draft legislation that would make significant changes to Michigan cannabis law is under review by that state’s Marijuana Regulatory Agency.
Ann Arbor-based C3 Industries announced this week that it has raised $45 million from a network of individual and boutique investors.
