Two years after Ohio awarded its first medical marijuana licenses, a clearer picture has emerged of how big, multi-state cannabis companies are making inroads into the state.
Many won licenses through the state's competitive application process. But others, including companies rejected for Ohio licenses, are trying to acquire licenses through mergers, loans that can be turned into equity and contracts that give the company control over the business.
Several of these companies are publicly traded, subjecting them to public investor disclosures and reports. The Enquirer reviewed hundreds of pages of those documents and found more than 20 instances where Ohio businesses were ceding some ownership or control to a multi-state operator.
Ownership transfers aren't allowed until after the business is up and running. Dispensaries have an additional one year waiting period. Businesses can't own or control more than one cultivation or processing license, or five dispensary licenses.
Read more at cincinnati.com
