N.J. company buys Virgin Islands medical marijuana firm

A New Jersey holding company has completed its acquisition of a medical marijuana firm, and named new leadership as part of the transaction, it announced Monday.

Piscataway-based Mobile Broadcasting Holding Inc. said in a news release that it wrapped up the deal for U.S. Virgin Islands-based Medically Minded LLC announced earlier this month, naming Ken Sobel the company’s new president and Stephen A. Jones, principal shareholder, its new CEO.

Medically Minded provides medical cannabis and cannabis-related products, as well as medical tourist services, MBHC said.

“We’re excited the acquisition is complete and that Mr. Ken Sobel will now assume the reins of Medically Minded as president,” Jones said in a prepared statement. “With Mr. Sobel’s impressive qualifications and experience in the quickly growing cannabis industry, we can now lay the groundwork for building a first-class cannabis operation which will provide a spectrum of integrated services.”

Sobel, an attorney, has helped...

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