Illinois will postpone the allocation of 75 additional business licenses for adult-use cannabis stores because of the coronavirus emergency, meaning existing operators will remain in command of the fast-growing market for the time being.
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Denver cannabis advisory group to examine social equity, diversity issues
Marijuana regulators in Denver have formed an advisory group that includes industry officials to recommend licensing and policy changes that could help diversify the city’s cannabis space and provide more equitable access to the market. The...
High Times makes bold move into marijuana retail with $80 million deal
The owner of pioneering cannabis magazine High Times said Tuesday it is acquiring 13 operating and planned marijuana retail stores in California for $80 million.
Class action lawsuits on rise against public cannabis firms, report says
Federal class action securities lawsuits against publicly traded marijuana businesses doubled from 2018 to 2019, a trend that's typical in an emerging industry, according to a new report. The report, by Boston-based global law firm Goodwin,...
Marijuana firm iAnthus’ CEO steps down after investigation into undisclosed personal loans
Hadley Ford resigned as CEO and a director of multistate cannabis operator iAnthus Capital Holdings after a company investigation found he failed to disclose two loans totaling $160,000 in what was determined a “potential or apparent” conflict of interest.
Week in Review: Federal cannabis aid, California social equity, Brazil medical marijuana & more
Marijuana lobbyists and a group of lawmakers are continuing their fight to include cannabis-related businesses in coronavirus relief packages. MJBizDaily takeaway: The marijuana industry is a significant contributor to state economies across the country. But because...
Arkansas medical marijuana consumers are buying in Oklahoma
Arkansas has been losing medical cannabis sales across the border because of lower prices in Oklahoma. Prices are about half as much in Oklahoma for similar-quality products as in Arkansas, according to the Southwest Times Record in Fort...
Florida man allegedly bilked investors of $3M in Colorado cannabis scheme
Federal securities regulators say that a Florida man raised $5.5 million from more than 60 investors through a promise of turning their money into huge gains in Colorado’s marijuana industry.
US lawmakers pitch House bill to offer COVID-19 relief to cannabis firms
Two members of the U.S. House of Representatives introduced legislation that would enable state-legal marijuana companies to qualify for U.S. Small Business Administration coronavirus relief programs, a stand-alone bill that could face an uphill battle in the current...
US senators request small marijuana firms be included in coronavirus aid
A group of 10 U.S. senators is urging congressional leaders to include small, state-legal marijuana businesses and ancillary companies in any future coronavirus relief packages. Their letter follows a similar one last week signed by nearly three dozen members of the...
Regulators temporarily halt trading of marijuana firm iAnthus’ stock
Canadian securities regulators halted the trading of iAnthus stock for nearly four hours Wednesday as they sought information from the multistate cannabis operator about reports related to its difficult financial situation. In a news release, New York-based iAnthus...
Marijuana lobbyists focus on next big coronavirus-aid package after doling out $5 million-plus in 2019
The marijuana industry spent more than $5 million lobbying federal lawmakers on Capitol Hill in 2019 in hopes of pushing cannabis banking and other reforms past the finish line, but those efforts suddenly have been upended by the COVID-19 outbreak. Lobbyists and...
