Cresco Labs, a vertically integrated multistate marijuana company, said it agreed to purchase four Ohio medical marijuana dispensaries, currently operated by Verdant Creations, as the Illinois-based company increased its investment in what’s shaping up to be a lucrative market. Cresco will pay $375,000 in cash for each store as well as $500,000 of the company’s […]
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How US cannabis growers are keeping a tight lid on costs as recession looms
As the coronavirus pandemic plunges the U.S. economy into a sharp downturn, cannabis cultivators are managing finances by rethinking capital improvements and finding any area possible to lower costs. Although demand remains strong for marijuana in many state markets, prudent cannabis cultivation executives are planning for the worst and tightening their belts. Some have become more self-reliant […]
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Nevada marijuana sales up 20% in 2019, but COVID-19 slows progress
Nevada marijuana sales for 2019 reached $692 million, a 20% increase from fiscal year 2018, but lost sales stemming from the market disruption caused by the coronavirus pandemic is throwing cold water on future projections. That information comes from a new study by Las Vegas-based RCG Economics. The report, “2020 Marijuana Economic & Fiscal Benefits Analysis: […]
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Cannabis chain Strawberry Fields says no to being acquired in $31 million deal
Colorado Springs, Colorado-based Strawberry Fields terminated a $31 million agreement in which Denver-based Schwazze would have acquired the marijuana retail chain. Strawberry Fields filed paperwork with the U.S. Securities and Exchange Commission to terminate the arrangement, according to Denver alt-weekly Westword. Schwazze, a vertically integrated marijuana company, and Strawberry Fields agreed to the stock and cash deal in […]
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Massachusetts recreational cannabis stores to reopen in a week
After a two-month shutdown in response to the COVID-19 outbreak, Massachusetts adult-use marijuana retail stores can once again serve customers starting May 25 – though sales will be limited to curbside pickup and online or telephone orders. The announcement is a major development for cannabis store owners, who: Had worried they might not be allowed […]
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Proper strains and flexible production methods are key to maximizing cannabis extraction yields
So you’re the owner of a cannabis extraction company who’s hoping to get the highest yields possible.Where to start?
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COVID-19 delays mandatory pesticide testing for Washington state recreational cannabis
The coronavirus pandemic has scuttled government efforts in Washington state to require pesticide testing for recreational marijuana, dealing a setback to an idea that has been kicked around for several years by local industry officials and regulators. The pandemic has made it impossible for state lawmakers to conduct public hearings, so the issue has again […]
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Massachusetts preparing to allow recreational marijuana delivery
Applications for Massachusetts cannabis businesses that want to deliver recreational MJ will be available later this month, even though adult-use sales are on hold because of the coronavirus pandemic. The state’s Cannabis Control Commission will release license applications on May 28 for businesses hoping to transport marijuana from retailers to residences, Boston.com reported. Deliveries wouldn’t begin until adult-use […]
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Week in Review: High Times switches CEOs again, Florida court mulls cannabis revamp, solid sales in IL, OK & more
Los Angeles-based High Times Holding Corp. replaced CEO Stormy Simon after only four months on the job, marking the third time in a little more than a year the cannabis magazine publisher has hired a chief executive. Simon is being replaced by Peter Horvath, who most recently ran Ohio-based cannabis retailer Green Growth Brands. He also has […]
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Nevada OKs resumption of in-store sales for some marijuana retailers
Approved recreational cannabis retailers in Nevada will be allowed to conduct in-store sales starting Saturday as part of the governor’s broader plan to open up the state amid the COVID-19 pandemic. Nevada regulators had softened rules for marijuana stores as the coronavirus outbreak developed, at first only allowing delivery and then permitting curbside sales. Now, effective May […]
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Iowa receives 18 letters of intent for two medical marijuana dispensary permits
Two vacant Iowa medical marijuana dispensary licenses have attracted 18 pre-applications, or letters of intent. The dispensary licenses have been available since Have a Heart Compassionate Care, based in Washington state, closed its dispensaries in Council Bluffs and Davenport in March. Final applications are due June 8, and the identities of applicants and their proposed dispensary locations […]
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How cannabis growers are handling labor and safety challenges during COVID-19
Marijuana cultivators are finding new ways to manage labor to meet the challenges caused by the coronavirus pandemic. This is yet another sector in the cannabis industry to adapt its operations in response to COVID-19, similar to retailers, for example, who have been using drive-thru and curbside pickup to keep customers and employees safe. In […]
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