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Florida Attorney John Morgan Considering $100M Investment in MMJ

Florida attorney John Morgan holds a photo of his late father Ramon, who passed away from cancer. Morgan has said marijuana helped ease his father’s suffering as he was dying of cancer and he believes that legalization in a controlled distribution program is needed by pain sufferers in Florida. (Alex Menendez/AP)

One of the biggest supporters of Florida’s successful push to legalize medicinal marijuana last November, Orlando attorney John Morgan, is now considering a $100 million investment in the fledgling industry.

“What better person than me to be involved?”
John Morgan, attorney and legalization advocate

He told the Miami Herald through emails that he intends to invest up to $100 million into “the right opportunities.”

Morgan, who spent nearly $3 million this past election season to help pass Amendment 2, tells the Miami Herald that he’s currently looking for “the right opportunities” to invest in the industry. All told Morgan has injected nearly $7 million combined between two medical cannabis ballot measures in the state.

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In emails with the Herald, Morgan, who’s been mentioned as a possible gubernatorial candidate for 2018, said he’s interested in a stake in a state-licensed dispensary. So far he has yet to invest in any cannabis companies, he told the paper.

“I am prepared to invest significant monies in this industry and I plan to,” he wrote. “I have learned a great deal about the miracles of marijuana over the last five years. And what better person than me to be involved?”

Though cannabis companies have flirted with him in the past, he added, he has yet to pull the trigger.

“I have been approached by many companies here and in the U.S. and have and will continue to consider them,” Morgan wrote, forwarding the Herald a voicemail from an Arkansas businessman to underscore his point.

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Morgan recently had a public falling out with a top campaign organizer over the future of Florida’s medical cannabis system. As lawmakers considered rules for the new industry, Morgan was involved in a debate over whether the state should cap the number of retail shops a licensed distributor can own and operate. Morgan was against setting such limits, while campaign chief Ben Pollara was in favor of them.