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Redbud Roots Is Proving To Be A Major Player In The Michigan Cannabis Market

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Redbud Roots Is Proving To Be A Major Player In The Michigan Cannabis Market

Don’t miss this opportunity to connect with THE cannabis movers and shakers from across the globe during Benzinga’s first Virtual Cannabis Capital Conference on June 1. Among the attendees is Redbud Roots.
 
Redbud Roots is a medical and adult-use vertically integrated cannabis company. Redbud has set its roots in southwest Michigan and is one of the largest cultivators in Michigan with 3 separate facilities.
 
“In 2008, Michigan was one of the first states to adopt medical marijuana.  For 10+ years, the medical marijuana market in Michigan grew to a staggering 300,000+ cardholders – second only to California,” said Alex Leonowicz, Co-Founder of Redbud Roots.
 
Leonowicz, a corporate attorney who specializes in cannabis law, will be speaking at Benzinga’s upcoming Virtual Cannabis Capital Conference along with fellow Redbud Roots Co-Founders, David Murray, Jim Finley, and Chris Fanta.
 
The team will be providing an overview of the company’s 4 retail facilities, current sales and marketing efforts as it relates to Michigan, and a high-level summary of Redbud and its current footprint in the state. 
 
“In 2016, Michigan permitted commercial cannabis facilities (medical only). In 2018, the state adopted its adult-use (i.e. recreational) regulatory framework. With a population of 9.9MM (7.1MM over the age of 21), Michigan remains one of the top cannabis markets in the country.”
 
Leonowicz will be providing a summary of Redbud’s current offering. The company is currently looking to sell a percentage of its parent company stock to investors attending the event. 
 
The company has utilized previously raised capital to expand cultivation operations, complete additional RBR provisioning centers, and will potentially acquire 3 additional provisioning centers on the east side of Michigan. 
 
“Michigan’s difficult regulations insulate the state from large out of state companies and continue to provide an untapped market for first movers like Redbud Roots.”
 
To learn more about Redbud Roots, you can sign up for Benzinga’s Cannabis Capital Conference by clicking here.

Photo by Sam Doucette on Unsplash

 

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