After a slow start in late 2018, recreational marijuana sales in Massachusetts are surging – and on pace to exceed $1.2 billion this year and reach as much as $2.6 billion by 2025.
Jeff Smith
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Scotts Miracle-Gro arm invests $3.2M in marijuana ag-tech venture
Ohio-based Scotts Miracle-Gro’s new marijuana investment subsidiary, The Hawthorne Collective, has made another deal.
Trulieve reiterates support of marijuana CEO amid husband’s conviction
Marijuana multistate operator Trulieve Cannabis distanced itself from the conviction of CEO Kim Rivers' husband on five public corruption charges connected to his real estate development business. “We have consistently maintained that neither Trulieve nor our CEO are...
Marijuana real estate investor NewLake closes on $100 million IPO
Connecticut-based NewLake Capital Partners, which provides real estate capital to state-licensed marijuana operators, said it closed on an initial public stock offering of more than $101 million. The offering of 3.9 million shares of stock...
Cannabis MSO PharmaCann plans stock offering, report says
Chicago-based cannabis multistate operator PharmaCann reportedly intends to go public in the fall with an initial stock offering that could be valued at more than $1 billion. PharmaCann, which has operations in six states in the eastern half of the U.S., has...
Judge shoots down Maine’s medical marijuana residency rule
Maine’s largest medical marijuana operator prevailed in its challenge of the state’s residency requirement.
Bribery trial: Husband of Trulieve CEO bragged about medical cannabis pull
The now-husband of Trulieve CEO Kim Rivers boasted about how a political connection helped the company obtain one of the first vertically integrated licenses to sell medical cannabis in Florida, according to a 2016 conversation with undercover FBI agents.
Illinois recreational cannabis store licensing stalled by judge’s order
Licensing for recreational cannabis retailers in Illinois remains stuck. A judge ordered the state not to award any new adult-use retail licenses until a ruling is handed down on a lawsuit by the Wah Group challenging the application process, the Chicago Tribune...
Cuomo’s political crisis could further delay New York marijuana rollout, hurt smaller entrepreneurs
New York Gov. Andrew Cuomo’s announcement that he would resign from office amid sexual-harassment and assault allegations added fuel to the political crisis rocking the state and could further slow the rollout of the recreational marijuana program he signed into law.
Missouri, Maine set monthly marijuana sales records
Two of the M states - Missouri and Maine - are rocking when it comes to marijuana sales. Missouri medical marijuana sales exceeded $20 million a month for the first time in July - $21.03 million, to be exact. The Missouri market launched last...
California cannabis business sues 4Front for alleged unpaid fees
A cannabis company in California is alleging in state court that it is due more than $400,000 in connection with a sale three years ago. Brothers for Life claims the sale agreement with Vancouver, British Columbia-based Cannex Capital Holdings in 2018 called for...
Marijuana ancillary firm Greenlane raises $32 million in equity
Greenlane Holdings, a Florida-based ancillary marijuana company, said it entered into definitive agreements with institutional investors to raise $32 million from the sale of stock and warrants. A company news release didn’t specify how the...
