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Jeff Smith

Jeff is an award-winning business journalist who has worked as a reporter and editor for daily newspapers in Colorado, Maine, New Mexico and Alabama. He also has worked as a journalist overseas in Asia and West Africa. His stories have appeared in National Geographic online and The New York Times, among other publications.

Marijuana MSO Cresco inks $213M all-stock deal to expand into Florida

Published 23 hours ago

Marijuana multistate operator Cresco Labs entered a definitive agreement to acquire Bluma Wellness for $213 million in an all-stock transaction in a move to expand into Florida’s fast-growing medical cannabis market. Bluma, under its operating subsidiary “One Plant Florida,” has seven dispensaries in the southern state with eight additional locations planned. One Plant ranks 11th […]

Virginia looks poised to legalize adult-use cannabis market

Published January 13, 2021

Virginia Gov. Ralph Northam’s administration announced an adult-use cannabis legalization plan that would impose a 21% excise tax and provide some licensing preferences for individuals and entities harmed by the war on drugs. Adult-use marijuana sales would begin Jan. 1, 2023, under the proposal, which looks as if it has a good chance of succeeding […]

A comparison of New York and New Jersey marijuana programs in the form of a table.

New York appears better positioned than before to legalize $2 billion-plus recreational marijuana market

Published January 13, 2021

Facing massive budget woes and legalization in neighboring New Jersey, politicians in New York are set to take another crack at legalizing a recreational marijuana market that could generate more than $2 billion in sales – and this time, the odds look better. Gov. Andrew Cuomo renewed the pledge last week to legalize recreational marijuana […]

Cannabis MSO MedMen raises $10M to aid financial-turnaround effort

Published January 12, 2021

Multistate cannabis operator MedMen Enterprises said Tuesday it raised $10 million in capital by amending a senior secured debt facility led by Gotham Green Partners. That facility and other debt amendments announced at the same time will dilute the value of MedMen stock. But the amendments also reflect an effort to dig the cash-strapped, Los […]

Kristi Noem, South Dakota governor, anti-marijuana

SD governor defends lawsuit to overturn recreational cannabis legalization

Published January 11, 2021

South Dakota Republican Gov. Kristi Noem issued an executive order that indicated she is behind the effort to overturn voter-approved recreational cannabis legalization and that she has the right to challenge legalization as part of her duty to defend the state’s constitution. The two-page executive order issued Friday noted that she instructed South Dakota Highway […]

Montana lawmakers deny money to set up recreational cannabis program

Published January 7, 2021

Montana lawmakers rejected a $1.35 million budget request to fund the state’s recreational cannabis program, raising uncertainty about the program’s ability to meet its deadlines. The state revenue department had requested the money to set up a department of 20 full-time employees, according to the Associated Press. Montana voters approved a ballot initiative in November […]

Arkansas opens up medical marijuana processor, transporter licensing

Published January 7, 2021

The steadily growing Arkansas medical marijuana program is offering new business opportunities: processor and transporter licenses. Scott Hardin, spokesman for the Arkansas Medical Marijuana Commission, wrote in an email that the state’s MMJ constitutional amendment didn’t establish a limit on the number of those licenses, so the commission will consider applications as they come in. […]

Chart showing how Texas MMJ is dwarfed by its less-populous neighbors

Texas medical marijuana operators ‘push but not shove’ to expand state’s limited MMJ program

Published January 7, 2021

Texas’ limited medical marijuana program is considered economically unviable for MMJ companies, generating sales that represent a fraction of what one industry executive described as a potential billion-dollar market. But that situation could begin to change this year if Texas lawmakers agree to significantly expand the program, which currently serves only a few thousand patients. […]

New York governor presses again for legalizing recreational cannabis

Published January 6, 2021

New York Gov. Andrew Cuomo said Wednesday he will push for the state to legalize a commercial recreational cannabis program that provides “equitable” licensing opportunities and “reflects national standards and emerging best practices.”

Federal marijuana reform outlook brightens as Democrats win control of US Senate

Published January 6, 2021

Prospects for major federal marijuana reform are poised to take a big step forward now that Democrats have won control of the U.S. Senate.

Major federal marijuana reform could hinge on outcome of two Georgia Senate races

Published January 5, 2021

All eyes are on Georgia and two runoff races Tuesday that will determine whether the U.S. Senate flips to Democrats, an outcome that could make the upper chamber more amenable to federal marijuana reform – perhaps even legalization. Potentially billions of dollars of business opportunities are at stake, depending on the scope and shape of […]

As more marijuana firms go public, feds urge SPACs to beef up disclosures

Published December 24, 2020

U.S. securities regulators are urging special purpose acquisition companies, or SPACs, to strengthen disclosures related to potential conflicts of interest, compensation incentives and other critical information for investors. The guidance this week from the U.S. Securities and Exchange Commission comes as SPACs, or blank-check companies, become more prevalent among cannabis and mainstream companies seeking a […]