About Mayflower Medicinals
Mayflower Medicinals (“Mayflower”) is a licensed medical cannabis provider in the state of Massachusetts. Mayflower will cultivate and manufacture world-class cannabis products out of its 36,000 square-foot, state-of-the-art production facility in Holliston, MA, and dispense these products from three strategically placed retail locations throughout the state. Only 24 dispensaries have opened within the last four years in Massachusetts, which provides an attractive competitive landscape for Mayflower’s market entry.
Operational highlights for Mayflower Medicinals:
- Received final authorization from Department of Health and began operations at 36,000 square foot cultivation and processing facility at Holliston;
- First harvest, extraction, and processing cycle initiated in April 2018;
- Flagship Harvard Avenue dispensary in the Allston neighborhood of Boston is completed and staffed;
- Pending final regulatory approval, Mayflower’s dispensary in Boston expects to open in Q2 2018 to medical patients with a full suite of products, including flower, pre-pack flower, concentrates, vape pens, tinctures and edibles; and
- Two other dispensary locations have been secured through lease and option to lease agreements, with full details to be provided pending final regulatory approval.
Why We Love Massachusetts
In November 2016, voters in Massachusetts passed another cannabis reform initiative, this time to legalize the use of cannabis for adults over the age of twenty-one. With an estimated 15% of its population being cannabis consumers1, Massachusetts is expected to become one of the largest cannabis markets in the country. The current medical market size in Massachusetts is estimated to be over US$100 million of annual revenues, with a full adult-use/recreational program authorized to start in July 2018 with an estimated market size of over US$1 billion of annual revenues2.
Mayflower will be the second dispensary to open in Boston, which has a population of 670,000 people, 150,000 students, and 800,000 additional daily commuters. There are over 13 million people that reside within 150 miles of Boston making it an extremely attractive market to operate in. Medical delivery will also be permitted in Massachusetts.
1. According to a 2009 survey conducted by the Substance Abuse and Mental Health Services Administration (SAMHSA)
2. The Cannabis Industry Annual Report: 2017 Legal Marijuana Outlook, New Frontier Data