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Arizona-Based Marijuana Company Seeking Massive Expansion

An Arizona company that grows, processes and sells marijuana in several states is buying another company to create what’s expected to be one of the largest operations nationwide. 

Harvest Health and Recreation is acquiring Illinois-based Verano Holdings, which would give Harvest 70 dispensaries across nine states as well as 13 cultivation sites and 13 manufacturing facilities.

Harvest CEO Steve White said doing business is harder than normal, because under federal law, marijuana is still illegal.

"We don't have the financing necessary to grow like any other business," White said. "I can't walk into Chase and go get a small-business loan. So we need to actually attract outside investment in order for us to grow."

White said one way Harvest seeks investors is through the Canadian Stock Exchange, although people can buy shares in the United States through over-the-counter sales.

After spending seven months as a news intern for KJZZ, Matt Kling returned in January 2019 as a general assignment reporter, mainly on the weekends.Kling’s radio career started when he joined Blaze Radio as freshman at Arizona State University’s Walter Cronkite School. At Blaze Radio he has served as a host, producer and assistant production director. He’s also interned for KTAR before joining KJZZ in 2018.Kling also has extensive work in television production, working as a director, technical director and other positions for Cronkite News and Arizona PBS. Today, Kling serves as a newscast producer for Cronkite News. He anticipates graduation from the Cronkite School in May 2019.When he’s not working, you can find Kling out and about on the town, or in his downtown Phoenix apartment watching his favorite Philadelphia sports teams.