Image credit: Alyson Martin

Nevada Governor’s Transparency Move Reveals Big Names in State Cannabis Industry

Chicago-based Green Thumb Industries looms large with 30 licenses.

May 17, 2019 6:55AM EDT Nevada

Co-founder of Cannabis Wire.

Nevada voters legalized cannabis for adult use in 2016 and, until now, they’ve had no way of knowing who was behind the state’s booming cannabis industry. On May 10, Nevada Governor Steve Sisolak signed into law a bill to improve transparency around who holds licenses for medical and adult use businesses, and how those licenses were granted. Immediately, the state released thousands of pages of documents dating back to 2017, including scores and scoring tools, involved individuals and agencies, applicants chosen and rejected, and who is currently actively involved.

Sisolak said in a statement, “This new policy is an important step in a multi-pronged approach to greater transparency in marijuana licensing under my administration. As our legal marijuana industry has evolved and flourished, it’s more important than ever that the industry and the public enjoy the benefits of a completely open and transparent process from licensing to operation so that our marijuana industry can become the gold standard in the nation.”

(Related: Cannabis Wire recently published a national look at the lack of transparency in the cannabis industry.)

While many national cannabis operators have publicly touted their involvement in Nevada’s lucrative industry, where 42 million tourists pour through Las Vegas each year, this is the first time everything is laid out in one place. Cannabis Wire decided to dig into the documents to see which major players are involved, and to what extent.

Here’s a snapshot of who is operating in Nevada, including some of the largest cannabis companies in the US.

Green Thumb Industries: 30 licenses

Chicago-based Green Thumb Industries, which operates in multiple states and is also publicly traded on the Canadian Securities Exchange, is behind 7 LLCs that hold licenses, and each of them also has several other LLCs as affiliates. In total, the company is behind 30 licenses.

Specifically:

Distributor: 1

Medical cultivation: 3

Medical production: 3

Medical dispensary: 5

Recreational cultivation: 3

Recreational production: 2

Retail dispensary: 13

The license holding LLCs are: Essence Tropicana LLC; CCLV Manufacturing Center LLC; Integral Production LLC; Essence Henderson LLC; GTI Nevada LLC; Integral Associates, LLC d/b/a Essence; Integral Cultivation LLC.

The affiliated LLCs are: Green Thumb Industries Inc (B.C. Corp-Publicly Traded); GTI23, Inc (DE Corp); VCP23, LLC (DE LLC); GTI Core, LLC (DE LLC); Integral Associates, LLC.

Cannabis Strategies Acquisition Corp.: 25 licenses

The Canadian company, which operates in Nevada and Massachusetts, has recently agreed to acquire several Nevada companies, named here, and is therefore behind 5 licensed LLCs, each with other affiliated LLCs. In total, the company is behind 25 licenses.

Specifically:

Distributor: 2

Medical cultivation: 3

Medical production: 4

Medical dispensary: 5

Recreational cultivation: 3

Recreational production: 3

Retail dispensary: 5

The license holding LLCs are: Livfree Wellness LLC, Lemon Aide LLC, Kynd-Strainz LLC, Tahoe-Reno Botanicals LLC, Tahoe-Reno Extractions LLC

The affiliated LLCs are: Green Relief, LLC, Washoe Wellness, LLC, The Canopy NV, LLC

Green Growth Brands: 18 licenses

The Canadian company, which operates in multiple states and is also publicly traded on the CSE, is behind 3 licensed LLCs, each with other affiliated LLCs. In total, the company is behind 18 licenses.

Specifically:

Distributor: 1

Medical cultivation: 2

Medical production: 1

Medical dispensary: 2

Recreational cultivation: 2

Recreational production: 1

Retail dispensary: 9

The license holding LLCs are: Green Growth Brands Nevada, LLC, Nevada Organic Remedies LLC, Wellness Orchards Of Nevada LLC.

The affiliated LLCs are: Green Growth Brands, Inc, Xanthic Biopharma Inc, GGB Nevada, LLC, Harvest Dispensaries, Cultivation & Kitchen

Verano (founders): 18 licenses

George Archos and Sam Dorf, the founders of the Chicago-based company, which has operations across the US and is in the process of being acquired by one of the largest multi-state operators, Harvest Health and Recreation, are behind 2 licensed LLCs. In total, the company is behind 18 licenses.

Specifically:

Distributor: 1

Medical cultivation: 1

Medical production: 1

Medical dispensary: 1

Recreational cultivation: 1

Recreational production: 1

Retail dispensary: 12

Silver Sage Wellness LLC: 6 licenses (one of each, no distribution)

Owner is Kayvan Khalatbari, a co-founder of Cresco Labs and board member of the Minority Cannabis Business Association

DIV Holdings: 2 licenses(one medical shop, one retail shop)

Owners are longtime cannabis investor Alain Bankier and Benjamin Bronfman, of the family that founded the Seagram Company.

New York

New York’s Cannabis Equity Fund Recalibrates: “The Markets Have Changed”

Alyson Martin

Cannabis regulators met on Tuesday for the second time in May to also approve emergency enforcement rules and a settlement related to a lawsuit that blocked licensing in parts of the state.

May 30, 2023 1:49PM EDT