According to data from Capital News Service, one in 10 investors investing money into Maryland’s medical marijuana industry are minorities.
The data comes from the state Medical Cannabis Commission and shows that the few minority investors who do exist in Maryland tend to hold smaller ownership stakes than their white counterparts.
The data came from the commission’s Annual Report on Minority and Women Owners and Employees, which requires information from licensed MMJ companies by June 1 annually.
The report also found that Green Leaf Medical, which has 34 black investors, the most of any MMJ company in Maryland, is only 21% owned by all those black investors combined.
Additionally, gLeaf’s 34 Black investors account for about 75 percent of all Black investors in the Maryland cannabis industry.
It also found that four of 26 licensed cultivation or processing businesses are owned by women or minorities. Those are HMS Health, Seven Points Agro, Kind Therapeutics and Chesapeake Alternatives.
Additionally the data revealed that two companies licensed to cultivate or process are owned by minorities: HMS Health and Seven Points Agro.
