Home Blog Recovery News CHICAGO-VANCOUVER COMPANY BUYS BIGGEST MARIJUANA DISTRIBUTOR IN LAS VEGAS

CHICAGO-VANCOUVER COMPANY BUYS BIGGEST MARIJUANA DISTRIBUTOR IN LAS VEGAS

MARIJUANA LOUNGES WILL OPEN ON THE LAS VEGAS STRIP IN 2019

If you have been keeping up with marijuana news over the past couple of months, you are probably aware of what a great impact Nevada has left on the growing cannabis industry. In fact, according to one group, the Sagebrush State brought in approximately $1 billion in its first year of sales (pretty impressive, when you think about it). Consider that about $989.7 billion contributes to the economy overall, and you may begin to realize what a pot of gold Nevada has become. So you will probably not be surprised to hear that a Chicago-Vancouver-based company recently acquired a deal to purchase 100% of Nevada’s largest marijuana company: Integral Associates. As part of the deal, Green Thumbs Industries Inc. (GTI) will absorb Integral’s retail footprint for the cost of $290 million. In total, $52 million in cash will be directed to Integral itself, accompanied by 20.8 million of GTI’s Subordinate Voting Shares. Let’s take a closer look at the impact of this decision.

A Closer Look at this Acquisition

Despite the simple name, Integral Associates has risen to become the leader of the booming retail marijuana industry in Nevada. As of now, this powerhouse owns and utilizes two facilities (covering 95,000 square feet) where the plants are cultivated and processed (Desert Grown Farms, Cannabiotix NV). Overall, Desert Grown is renowned for an impressive “genetics library” that stores more than 100 strains of cannabis plants. Meanwhile, Cannabiotix NV has earned the High Times Cannabis Cup award multiple times, and its Kush strain earned the 2018 Flower of the Year award. As you can see, for GTI, this acquisition is a huge step in the right direction.

Additionally, part of the acquisition includes the purchase of the Essence brand, allowing GTI access to three dispensaries that have earned national recognition (including a prime location on the Las Vegas Strip).

Significance of the Deal

Back in 2016, the State of Nevada officially legalized recreational cannabis. However, unlike other states that have allowed this use of the drug, the flower of the desert provides a limited market for adult users. In other words, retail licenses are hard to come by (resulting in the single Las Vegas Strip branch). Now, with the purchase of Integral Associates, GTI can expand the growing market in Nevada and put the little green plant on track.

Always remember that marijuana does not have control over your life. You do. Are you suffering from a substance use disorder or a severe form of addiction? Do you have a friend or family member suffering from one or more of these debilitating illnesses? If you do, get in touch with Asana Recovery today. Our counselors and healthcare experts are ready to walk you through every step of the detox and withdrawal process and rehabilitation and guide you towards living a happier, healthier, and freer lifestyle. While the road to recovery might not be an easy road to travel, we promise to help you every step of the way. Take the first step to stay fit, healthy, and safe.

The time for you to take back control of your life is now. If you are interested in one of our residential treatment or supervised detoxification/withdrawal programs, we are ready and waiting to speak with you at your disclosure. Call Asana now at (949) 438-4504 to learn how to overcome your drug abuse or addiction troubles today.

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