Nalu Bio, a producer of synthetic cannabinoids, said it raised $12 million in a Series A funding round led by Intrinsic Capital Partners, a Pennsylvania-based investment firm focused on life science and technology businesses in the legal marijuana and hemp industries.
Annual cannabis sales in California declined in 2022 for the first time since the state launched its adult-use market five years ago, according to state data analyzed by MJBizDaily.
Michigan regulators suspended the medical and recreational marijuana licenses of TAS Asset Holdings for allegedly using illegal raw materials from an unlicensed operator.
Alleaves, which acquired cannabis software provider BioTrack last week, announced a deal with Seattle-based marijuana commerce platform Leafly to offer a new integration tool for retailers.
Black-owned businesses in states including California, Massachusetts, Michigan and New York are trying to get minority-owned cannabis brands on shelves.
Budtenders at Captain Jack’s Dispensary in San Bernardino, California, have become the latest group of cannabis workers to unionize.
Wisconsin Gov. Tony Evers, a Democrat who was reelected last November, has again included marijuana legalization in his budget, one of several proposals unlikely to gain favor in the state’s Republican-led Legislature.
An unlicensed marijuana store in Lower Manhattan was fined $50,000 and a worker arrested for selling MJ to a minor.
A lawmaker in San Francisco introduced a bill that would allow marijuana retailers in California to operate kitchens and host events at their stores.
Technology company Forian said it is selling cannabis software provider BioTrack for $30 million in cash to Alleaves and exiting the marijuana industry to focus on health care.
Two more licensed adult-use cannabis operations are set to open in New York, including the first outside Manhattan.
Good Day Farm, the largest medical marijuana producer in Louisiana, is doubling production capacity this year amid strong patient demand and new regulations expanding access.
