It appears that a false start for Trulieve Cannabis (CSE: TRUL) was fired in West Virginia earlier this year. In August, it was reported that a grow facility application had been approved for the company within the state. However, it appears that the state has skipped over Trulieve in granting a growers permit.
On Friday, the State of West Virginia revealed the first ten grower permits that were approved to begin cultivation of cannabis products. Unfortunately for Trulieve and the prior reports, the company was not one of the winners selected to receive a permit, despite the company having already spent funds to purchase property in the state for the purpose of cultivation.
Winners of the growers permit now have six months to begin cultivation of medical cannabis in the state, or risk losing the coveted permit. Further, as per the code instated by the Department of Health and Human Resources, permits that have been issued are not allowed to be sold, removing the potential for the Florida-based cannabis operator to simply buy a permit from one of the application winners.
While Trulieve was left out of the granted permits, several well known names were fortunate enough to receive permits. The full list of growers permits granted is as follows.
|#||MEDICAL CANNABIS ORGANIZATION||CITY AND COUNTY|
|1054||Mountaineer Holding, LLC||Belle, Kanawha County|
|1064||Harvest Care Medical, LLC||Kearneysville, Jefferson County|
|1078||Buckhannon Grow, LLC||Buckhannon, Upshur County|
|1102||Holistic WV Farms I, LLC||Beaver, Raleigh County|
|1111||Verano WV, LLC||Beaver, Raleigh County|
|1010||Columbia Care WV, LLC||Falling Water, Berkley County|
|1099||Tariff Labs, LLC||Left Hand, Roane County|
|1166||Armory Pharmaceutical, Inc||Buckhannon, Upshur County|
|1131||Mountaineer Integrated Care, Inc||Fort Ashby, Mineral County|
|1268||Blue Ridge Botanicals, Ltd||Southside, Mason County|
Under the current regulations in the state, a maximum of 10 grow facilities, 10 processing facilities, and 100 dispenaries are to operate within the state.
Information for this briefing was found via Sedar and the West Virginia Department of Health and Human Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.