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Green Leaf Medical sets eyes on NJ

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Maryland-based Green Leaf Medical LLC is eyeing New Jersey for expansion of its vertically integrated medical marijuana dispensaries.

Green Leaf Medical announced its intentions, along with an announcement expressing interest in the cannabis business in Virginia and Ohio, on Friday.

Green Leaf Medical’s CEO Philip Goldberg expects to submit a medical marijuana dispensary application by Aug. 31, the final day for submissions as allowed by the New Jersey Department of Health Division of Medicinal Marijuana’s Request For Applications, announced on July 16.

In its current fundraising efforts to support expansion, the company has raised $6 million toward an $18 million goal.

"This capital raise, along with our existing assets and infrastructure, position Green Leaf Medical as a dominant enterprise among East Coast medical cannabis operations," said Goldberg in a statement.

Green Leaf Medical holds medical cannabis licenses in Maryland, Pennsylvania and Ohio. It has two applications pending in Virginia, and is seeking a license to cultivate and process in Ohio as well, where it currently only holds interest in a license to dispense.

The company’s reported revenues this year are approximately $5.2 million, and it’s currently exploring an IPO or RTO on the Canadian Stock Exchange.

Goldberg could not be reached for comment by press time.

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Gabrielle Saulsbery

Gabrielle Saulsbery

Albany, N.Y. native Gabrielle Saulsbery is a staff writer for NJBIZ and the newest thing in New Jersey. You can contact her at gsaulsbery@njbiz.com.

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