$4.8 million -- that's how much two cannabis clinics in the state raked in within the first two weeks of operation.
As of last week (ended Dec. 2), the two clinics sold a total of 65,196 items including raw flower, pre-rolled joints, vape pens and edibles. Consumers spent an average of $39.68 per item and bought an average of about 2.9 items. And there are more products in the offing.
Somerville-based marijuana dispensary Revolutionary Clinics launched a line of cannabis-infused hot and cold beverage pods -- including coffee pods and infused apple cider pods, which can be brewed in a coffee machine. That's not all -- the line of beverages called Mile 62 Café will expand to include lemonade, tea and hot chocolate.
The name Mile 62 is a reference to the distance from Earth to the edge of our atmosphere. "62 miles up from wherever you are, the boundary line between earth and outer space," the company said in an email statement. The clinic noted that the coffee pods are sourced from locally roasted coffee from Sudbury, Mass.-based Karma Coffee and contain 8.5 milligrams of THC.
Separately, another Mass.-based marijuana company, Ascend Wellness announced that it raised $40 million led by Poseidon Asset Management, Salveo Capital, JM10 Partners and Shire Capital Advisors. For more, read BostInno's feature on how cannabis companies raise funds.
The Athol, Mass.-based company cultivates and processes marijuana and has plans to open three retail dispensaries in the Boston area and is in the process of obtaining additional licenses in Massachusetts, Michigan and Illinois.
