Cannabis multistate operator iAnthus said it has closed on $11 million of financing to complete a build-out and improvements of a cultivation and processing facility in New Jersey.
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SBA nominee indicates openness to examining marijuana restrictions
President Joe Biden’s nominee to run the U.S. Small Business Administration said during a Senate confirmation hearing that she will examine SBA rules regarding state-legal marijuana businesses and overall is committed to serving small businesses “in need.”
Pennsylvania governor makes budget pitch for legalizing recreational cannabis
Pennsylvania Gov. Tom Wolf, as expected, has made legalizing recreational cannabis one of his administration’s top legislative priorities this year. Wolf highlighted recreational marijuana in his budget proposal Wednesday and mentioned the urgency given adult-use...
Cannabis delivery platform Lantern on its own after Uber-Drizly deal
Lantern, a cannabis delivery platform that started operations in 2020, will operate as an independent private business in the wake of the sale of sister company Drizly to Uber. San Francisco-based Uber Technologies on Tuesday announced an agreement to acquire...
Three US senators announce plans for major federal marijuana reform
U.S. Senate Majority Leader Chuck Schumer and fellow Senators Cory Booker and Ron Wyden formally announced Monday that they are working together to advance comprehensive marijuana reform legislation.
Mississippi’s high court to hear arguments to block medical cannabis
The Mississippi Supreme Court said it will hear the challenge to a voter-approved medical cannabis initiative on April 14, as the legal effort to thwart legalization in one of the country's most conservative states drags on. The legal challenge in Mississippi is one...
CA cannabis firm seeks US Supreme Court ruling on $1.3 million tax case
A California cannabis business is taking its fight over a $1.3 million tax bill to the U.S. Supreme Court after losing a lower-court ruling based on the company filing its challenge to the U.S. Tax Court one day late. Organic Cannabis Foundation, which does business...
Senate leader Schumer pushing federal marijuana legalization as priority
U.S. Senate Majority Leader Chuck Schumer said he’s putting together a new federal marijuana legalization bill that would allow states freedom to “do whatever they’d like” and put tax revenues into minority communities most harmed by prohibition. A New York Democrat...
Michigan cannabis operator brings in $50 million from small investor offering
Gage Growth, a Michigan-based cannabis operation, said it raised the maximum $50 million allowed through a Regulation A, small-investor offering. Regulation A offerings are a way for a company to build a base of loyal investors in advance of a potential initial public...
Five state medical marijuana markets that could get a boost through reforms in 2021
A handful of states could pass significant medical marijuana reforms this year, providing for additional licensing opportunities and potentially hundreds of millions of dollars in new sales for existing operators and ancillary services. Here's a summary of five key...
Minnesota governor favors adult-use marijuana, but Senate is a hurdle
Minnesota Gov. Tim Walz is again trying to prod lawmakers to consider legalizing a recreational marijuana market, but the Republican-controlled state Senate is seen as an obstacle.
Massachusetts city drops onerous ‘impact fee’ on cannabis businesses
A Massachusetts municipality became the first in the state to stop assessing a controversial 3% “community impact fee” on licensed cannabis businesses. The move, if adopted by other Massachusetts communities, could ease some of the financial burden marijuana...
