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Curaleaf CEO calls speculation of Russian ties ‘misinformation’

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Curaleaf’s Boris Jordan says speculation on Russian ties is ‘misinformation’

The founder and executive chairman of MSO Curaleaf Holdings Inc. Boris Jordan has responded to Twitter speculation that he and a key shareholder of the company have questionable ties to Russian companies and oligarchs, and the company could be subject to sanctions, clarified that he and Andrei Blokh are both American citizens, reports Benzinga.

 “Curaleaf is an American success story founded by me! Pls stop spreading misinformation. I was born in the US and live and work in the US! Our shareholder Andrei Blokh is also a US citizen,” Jordan reportedly tweeted, adding the Curaleaf stock ticker hashtag. Shares of Curaleaf were trading down on Friday. 

Elaborating to Benzinga, Jordan said, “US citizens, whether they hold other passports or not, are not subject to and cannot be subject to US economic sanctions. Curaleaf, as an American company, is also not subject to and cannot be subject to U.S. economic sanctions.” The spokesperson added, “Our second largest shareholder is Andrei Blokh, a successful retired CPG entrepreneur who is not active in the company. Mr. Blokh is a US citizen, who also holds a Russian passport. The substantial majority of our shares are owned by the retail investor community and institutional investors.”

Enjoy Cannabis Daily each morning at 7 a.m.


New Jersey adult-use sales to kick off ‘within weeks’

Gov. Phil Murphy (D) of New Jersey says adult-use sales will commence soon in some soon-to-be-licensed existing medical cannabis dispensaries, reports Marijuana Moment.

“If I had to predict—I’ve said this before, but I mean this literally in this case—I think we’re within weeks,” he said. “I would hope in March that you’re going to see explicit movement on the medical dispensaries, some number of them being able to sell recreational.”

The details:

  • Medical dispensaries will require local approval and demonstrate they can meet demand by existing medical clientele
  • Stand-alone adult-use dispensaries are still to come
  • Murphy says he is “open-minded” to allowing home grow in the future

Business of Cannabis lands in Newark later this month, so we hope it really is weeks! (See you NYC on March 10th.)


Canada’s cannabis review running late 

A mandatory review of the Cannabis Act, which was supposed to have begun on the third anniversary of legalization, has not yet started, according to MJBizDaily.

Industry stakeholders are hoping to see a few issues addressed, such as:

  • Marketing restrictions
  • Potency limits on edibles
  • High regulatory fees and excise taxes

“Preparations are underway for the launch of the legislative review,” said Health Canada spokesperson Tammy Jarbeau.


Denmark-based Stenocare enters the UK 

Stenocare, a Denmark-based supplier of prescription medical cannabis, is entering the UK market with three products from its Canadian partner AgMedica Bioscience Inc: THC drops (30 mg/ml), CBD drops (20 mg/ml) and Balanced drops, (THC 15 mg/ml and CBD 22.5 mg/ml).

“By adding the UK, including England, Scotland, Wales and Northern Ireland, the list of markets in which Stenocare-branded products are or soon will be available has grown to 6, including Denmark and Sweden, and more are in the pipeline for this year,” said CEO Thomas Skovlund Schnegelsberg.

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