MPX Bioceutical Corporation (CSE:MPX) announced it obtained the final licensing approval from the Maryland Medical Cannabis Commission to open its first dispensary managed by subsidiary S8 Management.
As quoted in the press release:
The dispensary, which is owned by Budding Rose Inc., will operate under the Company’s “Health for Life” brand.
The Health For Life dispensary is located at 4909 Fairmont Avenue, Bethesda, Maryland and will welcome its first patients on Saturday, August 4, 2018 offering special deals throughout the day. The dispensary is equipped to service hundreds of patients per day and has a top-of-the-line point of sale system to serve patients efficiently and adhere to state reporting requirements in real time. It is located in a high-traffic area of downtown Bethesda, Maryland, in close proximity to the Walter Reed Military Medical Center and National Institutes of Health. Bethesda, Maryland is located within the Capital Beltway and is one of the wealthiest and most health conscious communities in the Capital Region.
“According to the MMCC, approximately 32,000 patients are currently certified for use of medical cannabis in Maryland and over 46,000 are signed up to become eligible. With the opening of the Health for Life Bethesda dispensary, we are pleased to further strengthen our first-mover advantage in the state. We have received a warm welcome from local business owners and the wider Bethesda community and look forward to serving patients, providing jobs and contributing to the local economy,” stated W. Scott Boyes, MPX’s Chairman, President and CEO.
S8 Management also plans to commence production of MPX-branded cannabis products through its management agreement with Rosebud Organics, Inc. (“Rosebud”), which secured the necessary production license in October 2017 to manufacture cannabis products. Rosebud has one of only 14 licenses issued to process cannabis derivatives in the State of Maryland. The facility is completely built-out. The production license also enables Rosebud to sell wholesale MPX’s concentrates to licensed third party dispensaries, as well as through the Health For Life dispensary.