Los Angeles-based financial technology firm Bespoke Financial said it closed on a $125 million credit facility with institutional investors to increase its lending capacity.
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SPAC raises $200 million to target cannabis-related companies
A California-based special purpose acquisition company (SPAC) raised $200 million in an initial public offering to target companies involved in the growing medical cannabis or cannabinoid industry.
CA marijuana operator Harborside to acquire Urbn Leaf, Loudpack
Venerable California vertical marijuana operator Harborside is making a big move to expand in the state with definitive agreements to acquire Urbn Leaf, a San Diego-headquartered retailer, and Loudpack, a cultivator, processor and distributor based in Los Angeles.
Marijuana MSO quarterly results show slower revenue increases
Most of the top publicly held marijuana multistate operators posted single-digit revenue gains in the quarter ended Sept. 30, slowing from the sizzling double-digit growth in the previous quarter.
Utah measure to increase medical marijuana access not yet implemented
A measure signed into law in March to increase access to Utah’s medical marijuana program still hasn’t been implemented, frustrating patient advocates and costing operators potential business.
New Mexico taps marijuana industry veteran for top adult-use job
Kristen Thomson, a former marijuana executive and lobbyist, has been appointed director of New Mexico’s new Cannabis Control Division, which is responsible for developing the state’s adult-use framework.
South Dakota Supreme Court rejects voter-approved recreational marijuana market
South Dakota’s highest court on Wednesday struck down on technical grounds a recreational marijuana initiative approved by voters in 2020, shattering the development of a projected $285 million market.
Marijuana giant Curaleaf now faces 7 suits in Oregon over CBD-THC mix-up
Marijuana multistate operator Curaleaf continues to be hit with federal lawsuits in Oregon from customers claiming they required medical attention after taking CBD drops that actually contained THC.
Pennsylvania order targeting vaporized products upends cannabis market
In an unprecedented move, Pennsylvania medical marijuana regulators are ordering every licensed grower/processor to resubmit vaporized cannabis products that contain additives for another approval – a move that experts fear could cause serious product disruptions and financial losses.
Gage raises $55 million to fuel its marijuana growth in Michigan
Michigan-based Gage Growth said it raised $55 million of capital through a one-year secured loan to help finance retail acquisitions and growth in the state.
Schumer touts marijuana legalization bill for entrepreneurs, not ‘big boys’
U.S. Senate Majority Leader Chuck Schumer said his federal marijuana legalization bill is modeled in part after New York’s and intended to provide opportunities to small businesses and minorities, not the “big boys.”
Growers sue California county for obstructing adult-use cannabis licensing
A group of growers is suing a county and its sheriff in east central California for allegedly blocking adult-use cannabis licensing against the will of the voters.
