The dispensary launch represents an important milestone as both AltMed Arizona and AltMed Florida expand to become fully integrated leaders in medical cannabis production and dispensing. In Florida, MüV products are expected to be available for patients during the first quarter of 2018. CannaRoyalty receives a 3.5% royalty on the net sales of MüV products until July 2026. CannaRoyalty also currently holds an 8.3% ownership stake in AltMed, as well as the right to license MüV products in Canada, California, Nevada, Massachusetts, Washington, Oregon, and Puerto Rico.
“This is a significant milestone toward the achievement of AltMed’s strategic objectives and value creation for CannaRoyalty shareholders,” said Marc Lustig, CEO of CannaRoyalty. “We are proud to be partnered with the experienced team at AltMed, we congratulate them on this significant step and look forward to continuing to work closely together on the outstanding opportunities that exist within the Arizona and Florida markets.”