2 medical cannabis companies serving Virginia to merge

2 medical cannabis companies serving Virginia to merge
(FILE) (Source: CNN/file)

RICHMOND, Va. (AP) — Two medical cannabis companies serving Virginia have agreed to merge.

The Richmond Times-Dispatch reports that New York-based Columbia Care Inc. plans to acquire Maryland-based Green Leaf Medical LLC for $240 million.

Green Leaf secured approval in 2018 from the Virginia Board of Pharmacy to be the lone medical cannabis licensee for an area that includes Richmond and parts of Southside Virginia.

Columbia Care holds the license for the Hampton Roads region. The deal is expected to close in the summer.

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