Innovative Industrial Properties, a marijuana real estate investment trust (REIT), said it plans to raise $200 million through a private placement of senior notes for continued cannabis-related property investments. The San Diego-based...
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Alabama governor signs medical cannabis legalization bill into law
Alabama on Monday became the latest state in the nation and second in the Deep South to legalize a medical cannabis market after Gov. Kay Ivey signed a legalization bill into law.
Marijuana legalization outlook: Minnesota fading, Alabama gov says yes
Minnesota’s House of Representatives passed recreational marijuana in a historic vote last Thursday, but the bill likely will die in the Republican-led Senate, which isn’t expected to consider the measure before the legislative session ends later Monday.
Mississippi high court voids voter-ratified medical cannabis legalization measure
The Mississippi Supreme Court on Friday struck down a medical marijuana legalization initiative that voters had overwhelmingly approved last November, shattering a market that was potentially worth more than $250 million in its first year of operation. The loss is...
Marijuana REIT to invest $67.8 million in Pennsylvania facility
Innovative Industrial Properties (IIP) and Atlanta-based multistate marijuana operator Parallel have struck another sale-leaseback deal. The San Diego-based real estate investment trust (REIT) said it has closed on a transaction valued at up to $67.8 million to...
Minnesota House OKs adult-use marijuana; Senate passage unlikely
That said, Republicans in May did not stop Minnesota lawmakers from legalizing hemp-derived products, including those containing delta-8 and delta-9 THC.
Two US House Republicans pitch federal marijuana legalization bill
Two Republican congressmen in the U.S. House of Representatives have introduced a bill that would legalize marijuana federally in a manner similar to alcohol.
MA cannabis businesses forced to pay $2.5M in unlawful fees, study shows
Cannabis companies in Massachusetts have paid at least $2.46 million in fees more than lawfully allowed under “host community agreements” (HCAs), according to a new study that reiterates the need for reform.
Blockbuster Trulieve-Harvest deal could revive cannabis megamergers
After several months of smaller, more focused transactions, Florida-based Trulieve’s $2.1 billion deal to acquire Harvest Health & Recreation could mark a resurgence in cannabis megamergers, industry experts say.
Verano nets $100 million in upsized loan to support cannabis moves
Illinois-based Verano Holdings entered into an amended $130 million loan agreement that provides the multistate cannabis operator an additional $100 million of funding at an annual interest rate of 9.75%. Verano said the upsized loan will...
Two California officials sentenced to two years in marijuana corruption case
Two former California city officials were each sentenced to two years in prison for accepting $35,000 in cash bribes in January 2020 in exchange for ensuring that a marijuana dispensary application would be successful.
Marijuana legalization outlook: Alabama yes, but Kansas unlikely
Alabama is poised to become the 39th state in the nation to legalize a medical cannabis market after lawmakers in the Deep South state passed a landmark but restrictive measure last week.
