The innovative Company expands its portfolio with the addition of dispensaries in Phoenix, Glendale, and Tolleson, Arizona.
PHOENIX, Ariz. (August 2, 2023) – Story Cannabis Company, an emerging player in the fast-growing cannabis industry, today announced the acquisition of four vertically integrated cannabis licenses, currently branded under the name Nature’s Medicines, located in Arizona. The Company acquired the assets from Devi Holdings Inc. Financial terms are not disclosed.
The Company’s newly purchased facilities are currently operating and serving Arizona’s adult-use and medical consumers from two locations in Phoenix, one in Tolleson, and one in Glendale. With the recent additions, the Company’s portfolio in Arizona now includes operations of 11 retail locations and two cultivation facilities.
The latest development is part of the innovative Company’s strategic plan to grow quickly through the purchase or expansion of vertically integrated cannabis assets in target states, and the Company prioritizes states that have high-profit margins, steep growth curves, and the expectation of soon-to-be permitted adult-use sales.
The acquisition effort was led by Story Cannabis executives and cannabis entrepreneurs, CEO Jason Vedadi, and COO Joe Sai. Both have in-depth experience at publicly traded companies and with multi-state operations. In this latest venture, the duo expects to bring a more personalized approach and curated cannabis experience to consumers.
Vedadi is the founder of Modern Flower which merged with Harvest Health and Recreation in 2017. He is the former Executive Chairman of Harvest Health and Recreation and former CEO of Oasis Cannabis. Sai is the former COO of Trulieve, and the former Chief of Staff and COO of Harvest Health and Recreation.
“Our core strategy is to build our portfolio quickly and efficiently across multiple states in order to successfully serve consumers while staying true to cannabis culture,” Vedadi said.
In addition to the Arizona marketplace, Story Cannabis dispensaries are found in Maryland and Ohio, with other targeted markets on the horizon. The Company also has business agreements in New Jersey.
Story Cannabis’s signature CPG brands include Just Flower, plus their premium flower and concentrate offerings brand, Fade Co.
For more information on Story Cannabis, visit www.storycannabis.com.
###
About Story Cannabis Company LLC:
Headquartered in Phoenix, Arizona, Story Cannabis Company LLC is an emerging, privately-held corporation in the fast-growing cannabis industry. The Company’s executive team has spent decades developing expertise in creating cannabis products. Their goal is to offer only the finest products, at affordable prices, with a curated retail experience. Story Cannabis dispensaries can be found in Arizona, Maryland, and Ohio. The Company also has business agreements in New Jersey and plans further strategic expansion targeted at vertically integrated licenses throughout the country. Learn more at www.storycannabis.com.
Safe Harbor Statement:
Certain information contained in this Press Release constitutes “forward-looking statements” that can be identified by the use of forward-looking terminology such as “may,” “will,” ”should,” “could,” “would,” “predict,” ”potential,” “future,” “plan,” “expect,” “anticipate,” ”estimate,” “intend,” “continue,” “strive,” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Furthermore, any projections or other estimates in this Press Release, including estimates of returns or performance, are “forward-looking statements” and are based upon certain assumptions that may change. Due to various risks and uncertainties, actual events or results or the actual performance of the Company may differ materially from those reflected or contemplated in such forward-looking statements. Moreover, actual events are difficult to project and often depend upon factors that are beyond the control of the Manager and its affiliates. The Company does not undertake any obligation to update or revise forward-looking statements contained herein to reflect events or circumstances occurring after the date of this Press Release, and no representation or warranty is made as to future performance or such forward-looking statements. Neither the delivery of this Press Release nor any sale in connection herewith shall under any circumstances create an implication that the information contained herein is correct as of any time after the earlier of the relevant date specified herein or the date of this news release.
Media Contact:
Sadie Thompson
Proven Media
602-527-0794
sadie@provenmedia.com
