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Minnesota Medical Cannabis Providers Run $11M in Red

Minnesota Medical Cannabis Providers Run $11 M In Red

ST. PAUL, Minn. (AP) — Minnesota’s two licensed medical marijuana manufacturers have lost a combined $11 million in just two years of sales, according to financial documents obtained by The Associated Press, continuing losses that hint at systemic problems with the state’s tightly regulated program despite a recent expansion that allowed thousands more patients to buy the medication.

Minnesota Medical Solutions posted a $1.2 million loss in 2016, a year after losing more than $3 million. But LeafLine Labs’ losses worsened: The company said it lost $4.7 million last year, after losing $2.2 million loss in 2015. Those figures come from annual financial statements the private companies provided the state that were obtained through an open records request. LeafLine chief executive officer Andrew Bachman said his patients should not worry about the company’s performance and what it means for their long-term future, saying that LeafLine was still beating its own financial plans. He...

See Article on Leafly HERE