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Florida Gov. Ron DeSantis came up with another reason to oppose Florida's ballot measure to legalize cannabis, also known as Amendment 3. Unlike the others — stinky weed smells choking the streets, increased crime, people smoking everywhere all the time — this one is geographical, sort of.
“How ridiculous is this, that we would let our Constitution basically be rent-seeking for some Canadian marijuana company? I mean, give me a break,” DeSantis said at a RNC lunch meeting, reported the Tallahassee Democrat on Wednesday.
That would be the largest medical marijuana company in Florida, Trulieve Cannabis Corp (OTC:TCNNF).
“The fact of the matter is that Trulieve is Florida-born, our products are Florida-grown, and we are headquartered in Florida with most of our nearly 4,000 employees living here as well,” said Trulieve's CEO, Kim Rivers, who by the way is also from Florida.
“I am a Florida native, born and raised here, and this is my home. And, I might add, Florida law requires us and all MMTCs (medical marijuana treatment centers) to be Florida-based, so any statements to the contrary are completely false.”
Read Also: Trump Ally Matt Gaetz Flip-Flops: Opposes Florida’s Marijuana Legalization He Once Championed
Trulieve spokesperson Steve Vancore clarified the situation.
In 2018, Trulieve acquired a Canadian mining business through a reverse takeover, forming Trulieve Cannabis Corp. This allowed the company to trade publicly on a Canadian stock exchange, skirting the restrictions imposed on marijuana companies by U.S. federal law that continues to regard cannabis as a Schedule I drug.
The only connection to Canada is the holding company formed for stock trading purposes, Vancore explained, per the outlet.
“Trulieve Cannabis Corp is NOT the licensee, nor has it, the holding company, made a single donation to the Smart & Safe Florida campaign,” Vancore added, referring the the group leading the pro-Amendment movement.
John Morgan, founder of the Morgan & Morgan law firm and a spokesperson for Smart & Safe Florida, pointed out the irony in DeSantis' criticism, especially considering the governor's efforts to bring Canadian pharmaceuticals to Florida.
“It's not true, of course, Trulieve is BY LAW a Florida-based company. But now he [DeSantis] is crowing about how hard he is working to bring Canada pharmaceuticals to Florida. You just can't make this stuff up,” said Morgan, who played a significant role in legalizing medical marijuana in Florida.
University of Florida finance professor Jay Ritter offered a nuanced perspective in an interview with the USA TODAY NETWORK-Florida.
“I’d be inclined to call it a U.S. company that is traded in Canada,” Ritter said, adding that voters should focus on the issue of marijuana legalization itself rather than the company's trading status.
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