Who won and lost in city’s weed lottery

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PharmaCann won huge, although GTI got shut out of downtown in a lottery with the jackpot of a lifetime for the marijuana business.

Like any other lottery, there have been winners and losers, huge smiles and tense grimaces when the city of Chicago drew names this morning to choose which providers would get a shot at coveted places for marijuana dispensaries.

Farzin Parang, chairman of the city’s Zoning Board of Appeals, spun a metal drum and plucked out envelopes ahead of a packed space at City Hall. Mayor Lori Lightfoot, in an work to spread the wealth, divided the city into seven districts, which will initially be permitted seven dispensaries each and every. But, predictably, the most interest was in downtown and the North and Close to West sides. 

PharmaCann and Cresco Labs, two of the biggest cannabis providers, won huge. Green Thumb Industries got shut out. Zach Zises, co-owner of Dispensary 33, wore his fortunate tie and got the eighth of 31 picks.

Cresco won the initial choose, and co-founder Joe Caltabiano chose 1 of just seven offered slots downtown. “It’s exactly where the individuals are and exactly where the chance is,” Caltabiano stated. “If I have been opening a restaurant, I’d place it there.”

PharmaCann had 4 picks, having all of them ahead of GTI got its initial. Cresco got two of its 3 picks in the initial six slots, taking two downtown slots. The downtown slots have been gone by the time GTI picked. [Read More @ Crain’s Chicago Business]



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