Legislators in Georgia passed a bill that could pave the way for up to 30 medical marijuana oil dispensaries to open in the state, although the law is still awaiting approval from Republican Gov. Brian Kemp. Senate Bill 195 passed through Georgia’s Senate by a vote of 43-9 and through the House by 164-2 before […]
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Cannabis retailer High Tide files CA$100 million shelf prospectus
Canadian cannabis retail chain High Tide filed a preliminary short form base shelf prospectus in order to raise up to 100 million Canadian dollars ($80 million) over a 25-month period. After the prospectus is finalized, High Tide may issue securities including shares, warrants, units, subscription receipts, debt securities and convertible securities. The company might use […]
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Canopy to buy Supreme for CA$435 million as cannabis M&A heats up
Canopy Growth announced plans to acquire competing Canadian marijuana producer The Supreme Cannabis Co. in a stock-and-cash deal valued at roughly 435 million Canadian dollars ($345 million). The pending acquisition continues a recent consolidation trend in the Canadian cannabis industry, amid an oversupply situation that has put pressure on many producers. Competitors Aphria and Tilray announced […]
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Curaleaf gets $130M funding for stake in newly acquired global cannabis firm
Multistate cannabis operator Curaleaf Holdings secured $130 million in funding from an unidentified “strategic institutional investor” in exchange for a 31.5% equity stake in its new venture, Curaleaf International Holdings. Curaleaf International was created to hold London-based medical cannabis company Emmac Life Sciences after a now-completed $286 million cash-and-shares acquisition announced in March, as well to […]
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Organigram acquires cannabis edibles manufacturer for CA$22 million
Canadian cannabis producer Organigram Holdings acquired The Edibles & Infusions Corp. (EIC), a cannabis edibles manufacturer, from AgraFlora Organics International and other shareholders. Organigram paid 22 million Canadian dollars ($17.5 million) worth of shares for the acquisition, with further share payments worth up to CA$13 million if EIC hits milestones, including: Listing Organigram-branded products for […]
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Retail employees can make or break your marijuana store, so hire wisely
You’ve found the perfect location and designed your dream dispensary – now it’s time to recruit the staffers who will bring your store to life. Exact strategies will vary based on a retailer’s size and resources, the local labor pool and available time. But a few basic tips can help you find the employees your […]
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Detroit adult-use marijuana license applications now open to all
Detroit opened its adult-use marijuana license application process to all comers on Thursday. That includes applicants with or without existing medical marijuana licenses, although applicants with existing MMJ permits have some advantages. Applicants without a medical cannabis license will have to wait until Aug. 1 for their applications to enter the review process. Application from […]
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Canadian cannabis producer Canopy hires diversity and inclusion leader
Canadian cannabis producer Canopy Growth appointed Sumayyah Emeh-Edu as its first vice president of diversity, equity and inclusion. Emeh-Edu previously worked as the director of diversity and inclusion strategy at financial services firm Charles Schwab. “While cannabis and CBD industries have flourished, the history of racial inequities surrounding cannabis prohibition and the resulting disproportionate social […]
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MO asks court to throw out awarded medical cannabis cultivation permits
Missouri’s marijuana regulator is asking a court to throw out a February decision that granted medical marijuana cultivation licenses to related businesses Heya Kirksville and Heya Excello. The two businesses’ cultivation license applications originally were rejected by the Missouri Department of Health and Senior Services (DHSS) in an application process overseen by a third-party contractor. […]
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48North Cannabis ends outdoor production amid Canada’s supply glut
48North Cannabis pulled the plug on outdoor marijuana production at its farm in Brant County, Ontario, signaling the changing thinking on the value of low-cost outdoor production in an industry facing a major supply glut. The outdoor cultivation site was previously pitched as a “game changer” by 48North ahead of its first season in 2019, […]
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Cannabis MSO Vireo Health closes $23.5M loan, reports 2020 earnings
Multistate cannabis company Vireo Health International closed the first tranche of a senior secured loan worth $23.5 million. Minneapolis-based Vireo said the loan will be used “to support the company’s ongoing growth initiatives and working capital requirements.” “This facility allows Vireo to continue pursuing first-mover advantages in markets where we see potential for revenue growth […]
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Why Ontario marijuana retail operator Cannabis Xpress is betting on tiny stores
As far as Chris Jones is concerned, sometimes you have to go small to make it big. The veteran marijuana retail operator is wagering that small, convenience-style locations are the key to sustainable retail profitability in Ontario, the largest recreational cannabis market in Canada. Jones’ latest marijuana retailer, Cannabis Xpress, plans to open its first […]
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