A Florida administrative law judge has upheld a 2022 decision by regulators to reject a plan by multistate operator Green Thumb Industries (GTI) to open medical cannabis dispensaries near or adjacent to Circle K stores.
According to the News Service of Florida, the judge’s Tuesday order also affirmed previous rulings by Office of Medical Marijuana Use Director Christopher Kimball denying GTI’s requests to establish Rise-branded dispensaries near Circle Ks in Ocala, Orlando and St. Petersburg.
In the rejections, Kimball cited a law restricting amended license applications as well as safety and security concerns, including heightened crime risk, the media outlet reported.
Under its October 2022 agreement with Circle K – which attracted national attention and temporarily boosted GTI’s stock price – the Chicago-based MSO planned to start a “test and learn” rollout with about 10 stores across Florida.
At the time, GTI founder and CEO Ben Kovler called the concept “a game-changer” for expanding the company’s retail channels.
But shortly after the announcement, MJBizDaily confirmed that Florida’s health department, the state’s medical cannabis regulator, hadn’t signed off on the partnership.
In April 2023, MJBizDaily first reported that the deal was in litigation.
Despite the setbacks, Kovler told MJBizDaily a few months later he expected Florida regulators to ultimately sign off on the company’s landmark deal.
Circle K, based in Laval, Quebec, has more than 600 stores in Florida.
GTI operates 21 Rise stores in Florida and 101 locations nationwide, according to recent news releases.
The company did not immediately respond Wednesday to MJBizDaily inquiries.
Green Thumb shares, traded on the Canadian Securities Exchange as GTII and on U.S. over-the-counter markets as GTBIF, were down more than 5% on both exchanges in midday trading Wednesday.
Chris Casacchia can be reached at chris.casacchia@mjbizdaily.com.
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