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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.

Week in Review: MA adult-use cannabis stores reopening, High Times deal unravels, Acreage ‘reset’ & more

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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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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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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