Toronto-based cannabis corporation Red White & Bloom received adult use prequalification status this week from Michigan’s Marijuana Regulatory Agency.
In summer 2020, Red White & Bloom through subsidiary MichiCann Medical Inc, agreed to acquire Michigan cultivator PharmaCo, although that transaction has not yet closed.
A September 7 press release said the MRA prequalification, “presents the authorization of the Company to move forward with its full operational strategy in the State and complete the licensing process for its intended facilities.”
Last December, Red White & Bloom also announced its intention to acquire Illinois cultivation operations originally secured by nonprofit organization Shelbyville County Community Services for $40 million. That transaction has yet to be approved by Illinois regulators. Concurrent with that announcement, Red White & Bloom ruffled Illinois industry incumbents by saying it intended to move cultivation operations from the small Shelbyville facility to its existing 3.6 million square foot hemp cultivation facility in Granville, Illinois. That BLS region is currently exclusively occupied by Chicago-based multistate operator Green Thumb Industries. There is no precedent of Illinois cannabis companies moving cultivation operations across BLS lines.
