Quantum 9 CEO Michael Mayes was quoted in two Herald-Tribune articles as Florida positions itself for a medical marijuana vote later this year. Both articles focused on growing facilities – as the shift will require major build-outs for entrepreneurs.
In “Ahead of cannabis vote, preparations for an industry,” Mayes backs up $10 million fundraising goals, admitting that the number may be on the light side for pharmaceutical-grade grow rooms, saying that it’s not unusual to spend up to $4 million just to get a full-size grow room going. Mayes says “this is not your closet grow room anymore.”
And while others are considering opening research laboratories, Mayes cautions hopefuls that the state will demand paperwork and visibility into the operation. He says they are going to want to know all protocols and procedures and it will have to be done tactfully.
Another article, “Marijuana firm buys Manatee buildings for possible grow facility,” focuses on the size of the grow rooms rather than preparations, after Cannabis-Rx acquired facilities near Sarasota-Bradenton International Airport.
The 9.26-acre property includes 5 acres under one roof, which would make it one of the largest grow facilities in North America, but Mayes points out that it will not be the largest, as a company in Nova Scotia has already acquired a 315,000-square-foot facility that is currently being built out. Mayes notes that the industry trend is leaning toward these extra-large facilities.
The Florida Supreme Court cleared the way in January for the medical marijuana ballot initiative to appear on the November ballot. Since then, lawmakers have introduced a flurry of legislation to reform Florida’s outdated marijuana laws. A bill to allow patients with devastating seizure disorders to use high CBD marijuana was the first to be filed, followed shortly by HB 1039, comprehensive medical marijuana legislation that would regulate and tax adult sales similarly to alcohol laws. The proposal would allow the state to control sales, collect taxes and strike an economic blow to the criminal organizations that currently monopolize the marijuana market.