Marijuana MSO Parallel faces financial hurdles after $1.9B SPAC deal collapses
William “Beau” Wrigley Jr. and his Parallel marijuana company face litigation over a failed merger with Scooter Braun’s Ceres Acquisition Corp.
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Articles by Jeff Smith :
Key senator open to compromise, hopeful of some US marijuana reform
U.S. Sen. Cory Booker said this week he would support cannabis banking reform separate from a comprehensive federal legalization bill as long as the banking measure includes a “restorative justice” piece to give relief to those convicted of nonviolent marijuana offenses.
Connecticut faces legal challenges to marijuana equity cultivation licensing
At least two Connecticut businesses – the Hartford Cannabis Co. and The Goods THC Co. – are appealing license denials by the state’s Social Equity Council, according to lawsuits filed in Hartford Superior Court.
Arkansas election board rejects recreational marijuana measure
An Arkansas election board panel on Wednesday rejected a recreational marijuana petition, just days after state election officials said backers had collected enough signatures to qualify the initiative for the November ballot.
Scotts’ Hawthorne marijuana grow sales plummet 63% in latest financial quarter
Scotts Miracle-Gro’s Hawthorne unit took another big hit in the company’s fiscal quarter ended July 2 because of continued oversupply in the softening marijuana industry.
Oklahoma imposes two-year medical marijuana license moratorium
Oklahoma is enacting a nearly two-year moratorium on new medical marijuana grower, processing and dispensary licenses, beginning Aug. 26, in efforts to catch up with a backlog of work and raise business-compliance levels.
Arkansas recreational cannabis measure appears headed to fall ballot
A referendum to legalize recreational cannabis sales in Arkansas passed a critical milestone, likely assuring the proposed constitutional amendment will be on the state’s November ballot.
Marijuana MSO Verano to restate financials from five previous quarters
Marijuana multistate operator Verano Holdings said it must restate five quarterly financial statements dating back to March 31, 2021, and that all of its disclosures and investor presentations since then “should therefore no longer be relied upon.”
New York company wins critical decision in fight for medical marijuana license
A New York-based company’s claim that it should have won one of the state’s five initial medical marijuana licenses has taken a big step forward.
US House passes marijuana research bill; Senate expected to follow suit
The U.S. House of Representatives passed a revised bipartisan bill that would make it easier for researchers to study marijuana.
Some Minnesota cities ban cannabis edibles sales as new law takes effect
Several cities in Minnesota imposed moratoriums on cannabis edibles, and others are considering bans, in the wake of a first-of-its kind law allowing adult-use THC sales in outlets other than medical marijuana dispensaries.
Amber Littlejohn steps down as Minority Cannabis Business Association chief
Amber Littlejohn, a national advocate for equity in the marijuana industry, has stepped down as executive director of the Minority Cannabis Business Association (MCBA) to pursue new opportunities in the industry.
