Oakland, California-based Harborside said it acquired a majority stake in FGW Haight, a company in June was awarded a conditional-use permit for a retail marijuana shop in San Francisco. Under the terms of the deal, Harborside will receive 50.1% equity in the company in a combined cash-and-stock transaction totaling $2.1 million. The deal is expected to close by the end of the month. The retail store is one of many city-licensed social equity businesses that are opening up over time in San Francisco, FGW Haight partner Johnny Delaplane told Marijuana Business Daily. “The city of San Francisco is like issuing cannabis retail permits ad nauseum right now. There are dozens of new cannabis retail locations that are currently opening up,” said Delaplane, who is also president of the San Francisco Cannabis Retailers Alliance.

Marijuana Business Daily, 10/20/2020 15:59:08

Open article: https://mjbizdaily.com/harborside-acquires-san-francisco-social-equity-marijuana-retailer/