"The California market is exciting, the shelves are bare in some dispensaries," Stavola said. "We'll see a short term opportunity to grow our business as well as a path for longer term expansion."

CBD is also in demand in products in California.

"It's growing so much it's getting crazy," Stavola said. "In juice bars, instead of a scoop of protein powder, they're offering a scoop of CBD as a wellness supplement."

In Maryland, MPX last month won final licensing approval from the Maryland Medical Cannabis Commission to open its first dispensary, which will be managed by S8 Management, in Bethesda. The dispensary will operate under the Health for Life brand and will open on August 4.