A Northern California Investment Company based out of Woodland in Yolo County formed Chief Research and Logistics LLC as a holding company and takes over operations for M3 Meds Distribution which owns the licensing rights to Lucky Chief Cannabis, making good on its promise to capitalize its manufacturing operations and distribution platform on cannabis and lifestyle brands.
M3 Meds Distribution, which already controls the Northern Ca. distribution for well known LA edible company Infused Edibles (www.infusededibles.org), received an offer in late Dec to acquire significant equity for an undisclosed amount, it announced on Monday.
The deal marks the latest step in Chief Executive Mike Gill’s strategy of spending some of the capital raised from the investment group which has put together a blue chip team of industry experts.
The group is still looking for buyers for its online business (www.M3meds.com) and moved it’s central operations to Oakland, Ca.
Along with Infused Edibles and Lucky Chief, M3 Meds Distribution also houses other popular brands such as Bomb Chips, Bliss Extracts, Terp Pure, Chief Biological Development, Stoney Girl Gardens and over 20 top cannabis cultivators.
Described by Gill on Monday as “one of the world’s most desirable Cannabis brands,” Lucky Chief, created in 2014, is identified with California cannabis culture. Lucky Chief is most well known for working with 100% organic farmers so they can ensure the best quality cannabis and extracts.
The company’s Extracts and Cannabis Cigarettes have been sold by 70 major dispensaries and delivery collectives in Ca. “In terms of the business, Infused Edibles is very complementary to Lucky Chief, but is not exactly a simple deal” said one Sacramento-based analyst.
“M3 Meds Distribution is an exciting addition to our corporate family,” said Gill, “M3’s solutions streamline the Dispensary ordering process and enable the proactive management of the complex cannabis product lifecycle. In an increasingly challenging financial environment, M3’s ability to optimize the provider revenue cycle through product automation is a much-needed solution that immediately impacts the bottom line of Dispensaries, Delivery Collectives, and Brokers.”