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A months-long legal battle over state regulations in Ohio’s medical cannabis program is finally coming to an end for a local dispensary company associated with Acreage Holdings, Inc. (CSE: ACRG.U; OTCQX: ACRGF; FSE: 0VZ).

Acreage provides consulting and credit to Greenleaf Apothecaries, which had previously opened stores in Canton and Wickliffe, with three additional sites put on hold when a legal challenge occurred in the summer. 

The Ohio Board of Pharmacy had appealed a ruling back in August granting a certificate of operation to Greenleaf Apothecaries that would have allowed those new dispensaries to open for business. 

The Board had previously attempted to stop Greenleaf from gaining that certificate of operation at all, alleging the company had provided misleading or false information in state applications for the certificate. 

Acreage Chief Executive Officer Kevin Murphy announced this morning that the two companies have now reached a resolution with the state. Murphy commented: 

We are thrilled to share the news that Greenleaf Apothecaries has resolved its dispute in a way that allows Greenleaf to open its remaining three dispensaries in Cleveland, Columbus, and Akron, while maintaining its relationship with Acreage Holdings. As part of our consulting relationship, which includes a licensing agreement, all five of their dispensaries will be called The Botanist.

The previous Botanist location in Canton opened back in January, while Greenleaf also runs a cultivation facility in Middlefield. Under current state laws, any individual company is only allowed licensing for a maximum of five medical dispensary locations. 

In other company news, Acreage is gearing up for a third quarter earnings conference call to take place next month. Q3 financial reporting will be released after close of business on Nov. 12, with a webcast of the conference call to be put online the next morning. 

Investors are hoping for good news in upcoming quarterly reports as the North American cannabis industry continues to struggle with sharply declining stock prices. Acreage’s stock is currently trading for less than a quarter of its price back in early May.  

Looking to bring in new customers for multi-state operations, Acreage is now launching three new product lines outside the standard dried flower product that include sublingual breath sprays, flash frozen vape cartridges, and CBD tinctures. 

About Author

Ty Arthur

Ty Arthur

Ty Arthur has spent the last decade of his journalism career covering everything from cutting-edge tech to local news through outlets such as the Houston Chronicle. He has focused on the counterculture aspects of society, from marijuana legalization to underground music through Metalunderground.com and rapidly changing trends in the entertainment industry. He lives in the cold, dark north with his wife and son.

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