Cannabis is Big Business in Illinois

2023 has been a banner year for Illinois’ cannabis industry (so far) and this is a market that we are excited about.

During the first quarter of the year, the state sold more than $380 million of recreational cannabis products (according to Illinois’ Department of Financial and Professional Regulations). As of May 1^st, more than $500 million of recreational cannabis products were sold in Illinois.

When compared to the prior year, sales of recreational cannabis products in the first quarter in Illinois increased by 5%. Although the numbers are not eye popping, we remain bullish on the state’s cannabis industry.

We Remain Bullish on Illinois

Although we are bullish on the long-term opportunity in Illinois, the market does not seems to care as much about the operators who are levered to it. After recreational cannabis was legalized in Illinois, we saw a massive spike in interest in the market from multi-state operators (MSOs) and this was a trend that excited us.

During the last year, we have seen a slowdown on the merger and acquisition (M&A) side of the cannabis industry and Illinois has been impacted by the trend. We will monitor how this trend continues this year and have a favorable outlook on the opportunity for cannabis businesses and brands in Illinois.

From a company analysis standpoint, we expect Illinois’ cannabis market to factor into the growth of businesses that are levered to the state. In prior years, sales to out-of-state residents played an important role in the growth of the market and we will monitor how this trend continues.

If you are interested in learning more about companies that are levered to Illinois, please send an email to support@technical420.com with the subject “Illinois Cannabis Operators” to be added to our distribution list.

Company Relationship Disclosure

T420 is responsible for the T420 opinions provided in this disclosure except all sources or information provided by other parties were not verified or authenticated and T420 does not undertake to confirm or substantiate or be responsible for such information provided by other parties.

Any Content posted regarding a Profiled Issuer is not a solicitation or recommendation to buy, sell or hold securities. We cannot and do not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. All information should be independently verified. We are not responsible for errors or omissions in our publications, and any opinions expressed are subject to change, without notice. We do not, nor are we under any obligation to undertake due diligence or investigation or authenticate and verify whatsoever regarding Profiled Issuers or any Content posted in relation thereto and we do not receive any verification from the Profiled Issuer regarding the Content we disseminate. Similarly, while we endeavor to facilitate the provision of quality information, we are not responsible for any loss or damages caused or alleged to have been caused by its use nor verify or authenticate or update such information.

This article contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “expects”, “does not expect”, “is expected”, “believes”, “intends”, “anticipates”, “does not anticipate”, “believes” or variations of these words, expressions or statements, that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause actual results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, state, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate and expand the Company’s facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal, state and provincial legalization, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; the Company’s limited operating and profitability track record; dependence on management; the Company’s need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the impact of the Russia-Ukraine conflict on the global economy; the continued impact of the COVID-19 pandemic; and the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers. These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite the Company’s efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other risk factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws