L.A.-Based Medical Marijuana Company Bought For $15 Million
Even as a city ordinance cracking down on medical marijuana dispensaries looms, a strange announcement was made today: A company called International Merchant Advisors has agreed in principal to purchase a Los Angeles-based medical-marijuana concern called Organic Science, Inc. for $15 million in restricted common stock.
Organic Science, Inc.
Organic Science, which has an office at 11664 National Blvd. in Mar Vista, claims to be at the "forefront of medical marijuana research and development, medicinal marijuana growing, sales and distribution."
The company also claims to be operating in 15 states were medical marijuana is legal, and to run an unknown number of medical marijuana "stores" and "clinics." Whoa. If this was 20 years ago Pablo Escobar would have been in on the deal. Today, it's guys in suits and women in power-Manolos.
International Merchant Advisors CEO Mel Roseman, perhaps alluding to the city of L.A.'s crackdown, states, "There are very few opportunities to acquire existing operations which actually will bring current income in the medical marijuana space."
Organic Science's website states that " ... we're passionate about ethically sourcing the finest medicinal marijuana, growing it with great care, and improving the lives of people who use it for health reasons. We care deeply about all of this; our work is never done."
We're sure the fruit of this labor is sweet (and sticky).
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