Massachusetts recreational marijuana retail stores will be allowed to reopen May 25, but sales will be limited to curbside pickup and online or telephone orders. MJBizDaily takeaway: This ends an expensive shutdown and a sore point for rec store operators in Massachusetts, who have seen counterparts across the country generally treated as essential businesses. Gov. Charlie […]
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High Times’ deal to buy cannabis grow, processing facilities falls apart
High Times Holding Corp.’s move to expand into marijuana operations hit a snag with the collapse of a deal to buy a cultivation and processing business in California. The parent of the iconic High Times magazine said in a U.S. Securities and Exchange Commission filing that its planned acquisition of Humboldt Heritage was terminated by “mutual agreement” […]
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Maine’s largest city OKs adult-use cannabis, caps store licenses at 20
Portland, Maine, has opted into the state’s recreational marijuana industry with plans that call for 20 retail licenses and a scoring bonus for applicants who have been residents for at least five years. The City Council of Maine’s biggest city voted 8-1 to approve the proposed licensing ordinance after more than a year of deliberations, […]
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Overtime-pay issue leads CO marijuana security firm to US Supreme Court
A cannabis security company based in Colorado has petitioned the U.S. Supreme Court to review a lower-court decision requiring state-legal marijuana businesses to adhere to federal labor laws such as overtime pay. In its petition, Helix TCS argues that a ruling last September by the U.S. Court of Appeals for the 10th Circuit in Denver […]
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Cost-cutting cannabis giant Acreage to take $80 million-$100 million charge
Multistate marijuana operator Acreage Holdings on Monday said it is still reducing overhead costs – including the sale of a North Dakota medical cannabis operation and undeveloped real estate in Nantucket, Massachusetts – as it seeks to improve its financial situation. The New York-based company said in a news release that it expects to take […]
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Oklahoma’s business-friendly medical cannabis program still has room to grow, experts say
Medical marijuana sales and patient numbers in Oklahoma continue to increase at a staggering rate, indicating the red-hot market has room to grow, although some sectors and parts of the state are saturated with businesses, industry officials say. The state’s free-market approach so far has proved successful, with April sales topping $60 million. Meanwhile, regulators have […]
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US House OKs cannabis banking in passing $3 trillion coronavirus bill
The U.S. House of Representatives late Friday passed a $3 trillion coronavirus stimulus bill that includes a provision that would allow banks to serve state-legal marijuana businesses without fear of punishment. The bill passed along partisan lines by a 208-199 margin and now heads to the Senate, where it faces fierce Republican resistance. The Health […]
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Missouri bans certain medical cannabis edible shapes
Missouri lawmakers passed a bill that forbids the sale of medical cannabis edibles that could attract children and also tightens criminal background checks for those who work in the state’s MMJ industry.
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Marijuana firms aim to leverage ‘essential business’ status amid COVID-19 economic slide
Cannabis businesses declared essential during the coronavirus outbreak are hoping to leverage newly allowed flexibility such as curbside pickup and home delivery into permanent ways of doing business.
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Cannabis lobbying group announces leadership changes
The National Cannabis Roundtable, one of the industry’s leading advocates for federal marijuana reform, appointed Cresco Labs CEO Charlie Bachtell as its new chair. Bachtell replaces Acreage Holdings CEO Kevin Murphy, who had served as chair since NCR kicked off in early 2019. John Boehner, former speaker of the U.S. House of Representatives, will continue […]
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Missouri lawmakers push for more medical marijuana licenses
A group of Missouri lawmakers wants to substantially increase the number of medical cannabis business permits for the market, arguing the state imposed an arbitrary cap that resulted in a disastrous licensing round.
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Cannabis banking included in House Democrats’ $3 trillion coronavirus stimulus bill
A provision that would permit banks to serve state-legal marijuana businesses without fear of federal reprisal is part of a $3 trillion coronavirus stimulus bill announced Tuesday by U.S. House Democrats. The SAFE Banking Act, which the U.S. House overwhelmingly approved in September, is included in its entirety in the 1,815-page bill. A vote on the […]
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The pandemic pivot and how cannabis companies reacted to COVID-19.