skip to Main Content
You can’t own more than 3 pot shops, but these companies are testing the limit — and bragging about it

First in a series.

Robert Leidy, scion of a wealthy Palm Beach family, struck a serious pose that night before officials in the small town of Athol.

In a dark suit and tie, he fixed his gaze on a careful script. There was no mention of the deep-pocketed investors backing him or the fishing yacht his company, Sea Hunter Therapeutics, was named after. Leidy talked about his lofty mission: to help a nonprofit business grow marijuana in an old tool mill there, and sell the product at its stores to people suffering from illness.

“Our passion is to enhance the quality of life for so many living in pain,” Leidy said.

But in his focus on the healing qualities of marijuana, Leidy offered little about the company’s actual, larger ambition. Despite the high-minded speech that October night in 2017, Sea Hunter had largely taken over operations of the nonprofit, Herbology Group, as part of a much broader strategy to capitalize on the state’s new recreational pot market and become a dominant player in Massachusetts and beyond.

In a state where no firm is legally permitted to own — or control — more than three stores that sell recreational pot, Sea Hunter is poised to test that limit. [Read more @ The Boston Globe]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

Kentucky’s Medical Cannabis Program Undergoes Dramatic Transformation: Navigating HB 829 and the Emergency Licensing Regulations

By Hannah King and Arin Aragona Plans for Kentucky’s medical cannabis program took a significant turn last week with the passage of House Bill 829 and the implementation of emergency…

Cannabis in Court: When Federal Courts Will Hear Commercial Disputes Related to the Cannabis Business

By Steven Ascher and Anna M.Windemuth The unique status of the cannabis business —  legal in a majority of states, but still illegal under federal law — creates a thorny…

Patchwork Regulation of CBD Products Continues Despite Rise in Demand

By Courtney A. Hunter and Jessalyn H. Zeigler Demand for cannabidiol (CBD) products continues to climb, and the market has risen to the occasion. There is now a robust array…

How Private Equity Trumped Social Equity in State Cannabis Deal

Confidential documents obtained by THE CITY reveal how Chicago Atlantic Group became one of the biggest beneficiaries of the state’s legalization program. Last June, Gov. Kathy Hochul announced that a…

More Categories

Back To Top
×Close search
Search