Charlotte’s Web Holdings said it secured a $56.8 million investment from a British American Tobacco subsidiary, a deal that gives the multinational tobacco giant a 19.9% stake in the Colorado-based CBD and hemp company.
MJBizDaily will provide wide-ranging coverage of the Nov. 8 midterm elections, giving readers live updates on marijuana legalization ballot initiatives in five states as well as key congressional races that could influence federal MJ reform efforts on Capitol Hill.
 In a departure from activist-led and -funded legalization campaigns, the Missouri cannabis industry is the chief bankroller of the adult-use legalization measure state voters will weigh on Nov. 8
If Dan Bilzerian had listened to his father and not taken his marijuana company public, the brash Instagram celebrity’s Ignite International Brands might not currently be under investigation by both the U.S. Securities and Exchange Commission and the Department of Justice.
After a half-century in which marijuana endured the strictest prohibition allowed under the law, President Joe Biden has set in motion a process that could lead to revolutionary changes for federal MJ policy.
Marijuana multistate operator Curaleaf Holdings said it closed on its previously announced acquisition of Arizona-based Tryke Cos., with the final price tag amounting to $181 million in cash and stock.
In what observers say is a sign that California’s struggling legal cannabis industry is slouching toward a long-predicted “extinction event,” a major Southern California brand in the middle of ambitious expansion plans was recently sued by its landlord after falling behind on millions of dollars in lease payments.
The tenure of Ascend Wellness Holdings CEO Abner Kurtin has been thrown into question after the chief executive of the multistate marijuana operator was arrested in Florida and charged with battery against his domestic partner.
While business around the world shuttered as COVID-19 spread, the marijuana industry was deemed “essential” in nearly 30 states and stood to gain from the pandemic.
But more than two years later, amid rising inflation and fears of a recession, North American cannabis companies are cutting hundreds of jobs, closing retail outlets and cultivation facilities or shuttering altogether.
California’s cannabis program is entering a new chapter.
In a last-minute push that ended in June, hundreds of California marijuana businesses were issued the final significant batch of provisional licenses the state will ever grant.
Voters will decide whether to legalize commercial sales of adult-use marijuana in as many as five states during the November midterm elections, while medical cannabis could get on the ballot in Nebraska.
A recreational marijuana legalization referendum will be on the ballot in Maryland after state lawmakers voted in April to put the question before voters this fall.
With midterm elections around the corner and the U.S. Congress in a rush to clear up unfinished business, a bipartisan group of lawmakers is growing increasingly frustrated that Senate Democrats continue rejecting the SAFE Banking Act already passed by the U.S. House of Representatives.
