Acreage Holdings Is Exiting Iowa's Cannabis Market
Cost-cutting by Acreage Holdings (OTC: ACRGF) has led it to withdraw from the state of Iowa. Barely two months after it suspended its wholesale operations in the state, the company on Tuesday relinquished its medical cannabis manufacturing license there.
At present, the relatively small and sparsely populated state permits only the sale and consumption of medical cannabidiol (CBD). This is heavily regulated by state authorities.
Acreage, under the brand name Iowa Relief, was one of only two manufacturers of cannabis products in the state. It will leave the other, privately held MedPharm, as the sole operator.
Source Fool.com
