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The Parent Company names new CEO.
Troy Datcher, most recently an SVP at The Clorox Company, will be the new CEO of the California-based company that counts Jay-Z at a top backer, replacing current CEO Steve Allan. The company hailed the move as “the first time a Black CEO will lead a major public U.S. cannabis organization.”
Ayr to acquire major cannabis drink brand.
Levia is among the most well-known cannabis beverage brands around, and Ayr announced on Monday that it has “entered into a binding letter of intent to acquire Cultivauna, LLC, the owner of Levia branded cannabis infused seltzers and water-soluble tinctures,” in a multimillion dollar deal.
Maine court strikes residency req’s for cannabis licensees.
Northeast Patients Group (d/b/a Wellness Connection of Maine), which is owned by High Street Capital Partners, LLC (d/b/a Acreage Holdings) has twice challenged the state’s residency requirements for license holders: once for the adult use program, and again for the medical use program.
In early 2020, in response, state regulators announced that they would not enforce the requirement for the adult use program.
Last week, a judge ruled in favor of NPG on the medical side, concluding: the “Commissioner shall be enjoined from enforcing the Dispensary Residency Requirement.”
It is unclear whether the state will appeal.
