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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.

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

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. […]

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

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 […]

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

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 […]

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MPX, iAnthus tangle in NJ court as adult-use marijuana launch draws near

A judge issued a preliminary ruling in favor of a New Jersey medical marijuana company in its legal tangle with New York-based multistate operator iAnthus. MPX NJ, which received one of only 12 vertical MMJ licenses in the state, sued iAnthus last week, claiming iAnthus has tried to take control of its operations, including construction […]

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Cannabis M&A activity intensifies as investor sentiment brightens since November election

Cannabis mergers and acquisitions are heating up, with more than $600 million worth of deals announced on Tuesday alone – and that’s on top of additional transactions unveiled since the U.S. presidential election last month. New York-based multistate marijuana operator Columbia Care on Tuesday announced a definitive agreement to acquire privately held Green Leaf Medical […]

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Cannabis banking reform excluded from $900 billion coronavirus relief package

Cannabis banking reform will have to wait. Such reform isn’t included in the 5,593-page, $900 billion coronavirus relief bill being considered Monday in the U.S. Congress, even though it was part of the initial U.S. House relief measure. But there is still hope cannabis banking reform will be included if there’s a push for additional […]

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Maine medical marijuana operator sues over MMJ residency requirement

Maine’s leading medical marijuana operator is challenging the state’s MMJ residency requirement, seven months after suing and getting the state to back off a similar provision for adult use. Wellness Connection of Maine on Dec. 17 filed a lawsuit in U.S. District Court in Maine claiming that the residency requirement for MMJ dispensaries violates the […]

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Marijuana MSO MedMen fights to turn around finances, but challenges linger

Financially strapped MedMen Enterprises is showing modest improvement, raising the possibility that the California-based multistate marijuana operator has hit bottom and is beginning to benefit from its restructuring and turnaround plan. But huge challenges remain, including a high debt load, ongoing losses and a small cash cushion. In another sign of financial distress and a […]

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Cannabis MSO 4Front nets $33 million from sale-leaseback deal

Cannabis multistate operator 4Front Ventures said it has completed a sale-leaseback of cultivation and production facilities in Massachusetts and Washington state, generating $33 million to pay down debt and for general purposes. The deal is just the latest in a wave of sale-leaseback transactions in the marijuana industry that help operators raise cash and bolster […]

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