Have you ever wondering about the relationship between people of color and the investment of the cannabis industry? In Maryland, two-thirds of the total number of cannabis investors in the state are white men, then sequentially is the group of white women, men of color, and women of color.
According to the latest statistic shared by the Maryland Medical Cannabis Commission, merely 10 percent of the total number of cannabis industry investors are people of color in the state. Only 10 percent of the investors in the cannabis industry in Maryland are people of color, this data is provided by the Maryland Medical Cannabis Commission and published by the Capital News Service.
Although people of color only account for a small fraction of the total investors in Maryland, they still own small shares in companies cover the cannabis business.
Taking the Green Medical Leaf (gLeaf) as an example. The gLeaf has 34 Black investors, and they own about 21% of the company shares in total. And these 34 Black investors, which is quite surprising that they already account for 75% of the total number of Black investors in Maryland’s cannabis industry.
In addition, there are 26 Maryland companies with licenses for cannabis cultivation and processing. But only the HMS Health, Seven Points Agro, Kind Therapeutics, and Chesapeake Alternatives are majority-owned by women or people of color. According to the state data, there are only two companies cover cannabis business are entirely owned by people of color, which is the Only Seven Points and HMS Health. Moreover, Pro Green Medical is the only film in Maryland with more than 30% ownership is held by people of color.
The statistic in Maryland shows that there is no cannabis companies in Maryland have more than 5% of women of color as investors.
In the last October, the Maryland cannabis regulators pointed out that they would investigate the cannabis licensing review process and the veracity of information.
This article is issued by Ganjapreneur, for more information please check https://www.ganjapreneur.com/just-10-of-marylands-cannabis-investors-are-people-of-color/