Oregon-based Golden Leaf Holdings has struck a deal to acquire the Nevada cultivation and extraction licenses from NevWa, LLC – which operates as Grassroots in the state – for $1.925 million. The move comes just four months before state regulators anticipate the launch of the state’s adult-use market. The license allows the company to sell and distribute products throughout Nevada.
Don Robinson, CEO of Golden Leaf Holdings, said the state is “increasingly being recognized as one of the fastest growing cannabis markets in the U.S.”
“The level of tourism in the state combined with the reciprocity provision in the state’s [medical] cannabis laws, positions Nevada to become one of the largest and most dynamic markets in the country,” he said in a press release. “Cannabis brands that are on store shelves in Nevada can create brand loyalty throughout the North America.”
The deal is the third this month for Golden Leaf, who announced last week they had signed a letter of intent to acquire Oregon’s Chalice, LLC, which won “Cannabis Store of the Year” at the 2017 Dope Magazine Industry Awards. On Mar. 16, the company announced they were set to acquire the assets and business of JuJu Joints, which sells disposable cannabis oil “e-joint” products in Oregon, Nevada, California, Washington state, and Canada. Two days prior, Green Leaf announced plans to acquire Medical Marihuana Group Corporation – a licensed Canadian producer.
All of the deals still await final approval from the appropriate regulators.