With legalization of marijuana becoming more and more widespread across the United States, a formerly underground industry has been making its way into the larger world of legal business. Innovative Industrial Properties, Inc. (IIPR) is one of the latest and most notable companies focusing on marijuana to hit the markets, and the company had a fairly quiet IPO on Thursday, December 1. What makes IIP a standout compared with other marijuana-focused companies, and what should investors expect from this business?
California Insurance Commissioner Dave Jones has been on a mission to ensure state-legal cannabis businesses have commercial insurance coverage and with his announcement of the first California cannabis surety bond program on Feb. 21, 2018, he continues to make progress.
More strife is on the horizon for Ohio’s troubled medical cannabis program. On Feb. 20, 2018, a group of unsuccessful medical cannabis applicants, led by Jimmy Gould of CannAscend Ohio LLC, filed a lawsuit challenging the state’s medical cannabis licensing process.
While the province of Newfoundland and Labrador has its key policies in place for recreational legalization and has secured a supply agreement with Canopy Growth Corporation (TSX:WEED) to provide cannabis for the province, it is now ready to hear from prospective cannabis retailers.