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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.

DEA asks court to toss marijuana rescheduling appeal

The U.S. Drug Enforcement Administration reiterated that a lawsuit challenging marijuana’s classification as a Schedule 1 drug under the federal Controlled Substances Act should be dismissed because of lack of jurisdiction and merit. The DEA’s assertion came in a 77-page response to a case in the 9th Circuit Court of Appeals in San Francisco. In […]

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Marijuana legalization opponents turn to courts to shoot down state ballot initiatives

Private citizens and public officials, sometimes joined by governors, increasingly are filing lawsuits to kill statewide marijuana legalization ballot initiatives, including some that voters approved in November. The legal challenges appear to be long shots to thwart legalization efforts in Mississippi, Montana and South Dakota. Even if the lawsuits are unsuccessful, it’s unclear whether they […]

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Cannabis MSO Acreage inks $12 million loan to expand Illinois operation

Multistate cannabis operator Acreage Holdings said Wednesday it has agreed to a $12 million construction loan to complete the expansion of its cultivation and processing facility in the fast-growing Illinois market. The financing is from The Pelorus Fund, a cannabis-focused real estate investment trust, and carries an annual interest rate of 16% over a term […]

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Marijuana firm Vireo files prospectus to issue up to $200 million in securities

Minneapolis-based Vireo Health International said it has filed a preliminary prospectus in Canada to sell as much as 260 million Canadian dollars ($200 million) in securities if and when market opportunities permit. Such a shelf offering doesn’t mean a company will sell the securities, but it gives a business the option when market conditions are […]

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Cannabis MSO Jushi plans $50 million expansion in Pennsylvania

Fast-growing multistate cannabis operator Jushi Holdings said it will invest $50 million to expand its Pennsylvania cultivation and processing facility to meet increasing market demand. The Florida-based MSO plans to expand the facility in Scranton from 90,000 square feet to more than 160,000 square feet, with the first phase to come online in mid-2021 and […]

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Cannabis firm Liberty Health settles class action suit for $1.8 million

Canada-based cannabis operator Liberty Health Sciences said it agreed to settle a 2019 securities fraud class action lawsuit for $1.8 million. The settlement is “made without any admission or finding of liability and is subject to court approval,” Liberty Health noted in a news release. Liberty Health is based in Toronto but has a vertically […]

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Marijuana operator Harvest settles dispute over Washington state assets

Multistate marijuana operator Harvest Health & Recreation said it has settled litigation in connection with the Washington state portion of an $85.8 million deal the company announced last March to buy the Seattle-based Have a Heart retail group. The disagreement emerged after the deal was announced. Arizona-based Harvest filed litigation last April against Have a […]

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