| | | You are receiving this as part of your free subscription to Cannabis Profits Daily. To remove your email from this list, unsubscribe here. | | | | | | Monday, July 1, 2019 | The Battle for the "Marijuana Mecca of the Midwest" By Greg Miller | Now that shareholders have approved the landmark agreement for Acreage Holdings Inc. (CSE: ACRG, OTC: ACRGF) to be acquired by Canadian giant Canopy Growth Corp. (NYSE: CGC), Acreage is on the move.
After the deal closed on Thursday, Acreage CEO Kevin Murphy gave an interview at the Players Technology Summit in San Francisco in which he hinted at a number of "head-turner" acquisitions that the company has in the works.
"There are going to be some really exciting ones," Murphy excitedly shared. "Some people are going to be like, 'Ooh, wow, that's amazing!'"
While he was careful not to spill any specifics, he did make one thing clear.
Illinois, which last month became the first state to approve the sale of adult-use cannabis through legislation, will feature prominently in Acreage's plans. When asked about the coming market, Murphy said: "We have designs on going very deep and very broad in that state."
It seems that Acreage knows as well as we do that Illinois is primed to become the "Marijuana Mecca of the Midwest."
It will be especially interesting to see whether the company makes any moves to benefit from the potential for districts to opt in on "social consumption lounges" - something we thought might happen in Las Vegas but will be much more likely in Illinois.
But when Acreage tries to enter "The Land of Lincoln," it's going to encounter a buzz saw.
We're tracking three companies in our portfolios who are already in the state, and they're going to give Acreage more than a hard time.
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