MPX Bioceutical Corporation (OTC: MPXEF) announced on December 10th that the company has been awarded four licenses for retail cannabis dispensaries in the state of Nevada through its subsidiary, GreenMart NLV, LLC.
The company was awarded licenses for the jurisdictions of The City of Las Vegas, Unincorporated Clark County, Reno, and Henderson. The dispensaries that fall under the subsidiary, GreenMart, will still fall under MPX Bioceutical’s flagship retail brand of cannabis that is “Health for Life”.
The company’s expansion goals have now positioned it within a cannabis market that had a recorded half a billion dollars in recreational cannabis sales in the first year of legal recreational adult use cannabis. Chief Operating Officer of MPX Bioceutical Corporation, Beth Stavola, said: “We are excited to be able to execute on our growth strategy by adding to our market share in Nevada. Opening dispensaries is the final step towards becoming a full, vertically integrated cannabis company in the state. These four licenses add incredible scale to an already strong foothold.”
Risk of Prosecution for Marijuana-Related Companies. If you are considering investing in a company that is connected to the marijuana industry, be aware that marijuana-related companies may be at risk of federal, and perhaps state, criminal prosecution. The Department of Treasury recently issued guidance noting: “[T]he Controlled Substances Act (“CSA”) makes it illegal under federal law to manufacture, distribute, or dispense marijuana. Many states impose and enforce similar prohibitions. Notwithstanding the federal ban, as of the date of this guidance, 20 states and the District of Columbia have legalized certain marijuana-related activity.”