CANNAINVESTOR Magazine U.S. Privately Held Companies November 2017 | Page 128

Canuvo Incorporated (CI): Canuvo was established in 2011, and are located in Biddeford. Canuvo cultivates, manufactures, and retails all their own products. The owner is Glen Patterson who is also Vice President of the Maine Association of Dispensary Operators and current Board Member for the National Cannabis Industry Association. Canuvo currently maintains a healthy 10% market share.

Safe Alternatives of Maine (SAM): Safe Alternatives is a Maine non-profit medicinal facility. They are located in Aroostook County. This is truly a small business. They possess a small niche market in the deep north of the state at about one to three percent market share.

Remedy Compassion Center (RCC): This business was created in 2010 in Auburn. They are the first state-licensed medical dispensary not only in Maine, but also east of Colorado. As a nationally recognized brand name, RCC possesses 15% market share. There are some external competitive factors that exist: There is little doubt that a new and developing market will bring other visitors from outside the state. The biggest potential newcomers are primarily located in Boston. These are cannabis dispensaries already established and looking to expand their market share throughout greater New England as Massachusetts is under the same recreational regulation moratorium as Maine. Though this threat is not great or immediate, groups like Patriot Care are mobilizing for the chance.

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