Medical Marijuana M&A Activity Commences With First Major Deal

The injunction to exempt existing patients currently licensed to grow medical marijuana does not directly affect the new licensing system; the status quo will be maintained. There will likely be final resolution through the court system within a year. Until then, commercial participants will move ahead. “While a number of peers are planning to ‘bolt on’ Medical Marijuana assets by way of acquisition: Umbral plans a more direct approach and involvement,” stated Jagdip Bal, President and CEO of Umbral Energy (UMB.V) in an exclusive interview with Financial Press.

“We are planning to apply for a license and are currently having discussions with growers and others to secure land and expertise to become a major commercial supplier in this burgeoning industry.” The growth of the Medical Marijuana market over the next decade is explosive. With a current user base of around 40,000, that number is expected to swell to nearly 500,000 in ten years. And that may be conservative.

To read more, visit https://finance.yahoo.com/news/medical-marijuana-m-activity-begins-143000974.html

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