Minnesota

insights

February 19, 2021
Notable Players
No MSOs currently

A Deeper Look At This State

Regulatory Framework

This market is among the most restrictive and does not allow for smokeable flower, the most popular choice amongst consumers. Add in a hefty $146K annual fee, a scarce patient population, and operators have traditionally struggled to find interest. A light at the end of the tunnel has appeared, in February 2021, the House Commerce Finance and Policy Committee approved a cannabis legalization bill that’s sponsored by the majority leader and speaker. Don't get too excited, the legislation is set to go through up to a dozen panels before hitting the floor.

Notable Market Activity

There is no notable activity at this time.

What's the Play?

Watch for the medical market to expand as the current structure makes profitability very challenging. We do not expect significant investment or acquisitions in the near-term.

Market Snapshot

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

58,380

This Data Point

594/273

By The Numbers

Population

~5.6MM

Medicinal Legalization

2014

Adult-Use Legalization

N/A

MMJ Patients

~21K

Monthly Revenue

~$3MM

Cultivation Cap

No Limit

Cultivation Licenses

2/2 (Issued/Limit)*

Retail Licenses

2/2 (Issued/Limit)*

Retail License Cap per Operator

1

Vertical Integration

Required

Delivery

Not Allowed

MMJ Qualifications

Highly Restrictive

State Population / # Retail Licenses

MMJ Patients / # Retail Licenses

~11K

*Two vertically integrated licenses who were each required to open four dispensaries for a total of eight dispensaries across the state.

Top Cultivators

Notable Market Activity

Quick sentance is needed or wanted

Quick sentance is needed or wanted

Quick sentance is needed or wanted

Proprietary Sharp Capital Advisors data - compiled using various sources including state and local government data
Shit We Don't Know

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