Proactive Investors - Run By Investors For Investors

MPX Bioceutical subsidiary wins four retail licenses, expanding its market share in Nevada

The new dispensaries will open under the company’s flagship Health for Life brand
Dispensary sign
The cannabis company announced plans to merge with iAnthus Capital in October

MPX Bioceutical Corporation (CSE:MPX) (OTCQX:MPXEF) was one of the only gainers on the North American Marijuana Index after announcing its subsidiary GreenMart NLV LLC was awarded four conditional retail marijuana store licenses in the state of Nevada.

Shares of MPX were climbing about 6% higher to US$0.68 in Monday afternoon trading.

READ: MPX Bioceutical expands its reach in Maryland, opening a second dispensary in Baltimore

Its subsidiary GreenMart NLV has cultivation and production capabilities as well as a kitchen facility to produce branded products for medical and recreational use.

The new dispensaries will open under MPX’s Health for Life flagship retail brand, which is already operational in Arizona, Maryland and soon in Massachusetts.

“We are excited to be able to execute on our growth strategy by adding to our market share in Nevada,” said MPX COO Beth Stavola in the company's press release.

“Opening dispensaries is the final step towards becoming a full, vertically integrated cannabis company in the state. These four licenses add incredible scale to an already strong foothold.”

The licenses are valid in Las Vegas, Reno, Henderson as well as unincorporated Clark County, or the areas outside of the city.

Nevada reported more than half a billion dollars in cannabis sales during its first year of legalized adult use, according to the Nevada Department of Taxation.

The Toronto-based company announced in October that it planned to merge with iAnthus Capital Holdings Inc (CSE:IAN) (OTCQX:ITHUF).


Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full MPX profile View Profile

MPX Bioceutical Corp Timeline

Related Articles

October 17 2018
The biotech was founded by an investment group led by scientists and driven by a no-nonsense CEO whose stake is more than just business as usual
Enzymes under a microscope
April 28 2019
The Florida company applies its proprietary C1 gene expression platform to speed up the development of biologic vaccines, drugs at flexible commercial scales
May 19 2019
The New Jersey company's lead product is Twirla, a low-dose prescription contraceptive applied once weekly for three weeks, followed by a week without the patch
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use