New Mexico’s Cannabis Control Division is cracking down on a Las Cruces business for “gifting” marijuana to shoppers who bought non-MJ merchandise. Speak Easy – described by its owner as “a novelty and gift shop … not a dispensary” – was giving “samples” of cannabis to customers who bought stickers for prices ranging from $15 […]
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Marijuana brand Old Pal gets $8M infusion from consumer products firm
Consumer products company Turning Point Brands (TPB) is making an $8 million strategic investment in marijuana brand Old Pal Holding. Louisville, Kentucky-based TPB’s investment involves “a convertible note which includes additional follow-on investment rights,” according to a news release. “TPB’s investment will enable Old Pal to expand product offerings in existing states, which include California, […]
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Canadian cannabis sales reach record of CA$313 million in May
Regulated recreational marijuana sales in Canada grew modestly between April and May for the third month straight, reaching a milestone of 313.3 million Canadian dollars ($248.8 million). National sales were up by 2.3% over April’s record figure, according to figures released Friday by Canadian government data bureau Statistics Canada. April’s sales total was adjusted downward […]
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Denver approves first marijuana retailer to work with licensed delivery service
The Denver location of Colorado marijuana retail chain Strawberry Fields is the city’s first recipient of a cannabis delivery license. Possessing that permit means Strawberry Fields may legally offer marijuana delivery in Denver once the business makes arrangements with a licensed transport service, a city official told MJBizDaily via email. The retailer told Denverite that […]
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Amazon lobbies US government on cannabis, report says
In a first for the company, e-commerce behemoth Amazon lobbied the U.S. government on cannabis policy during the second quarter of this year, Business Insider reported. The report did not detail exactly which aspects of cannabis policy were the focus of Amazon’s recent lobbying activity. However, Seattle-headquartered Amazon announced in June that it would actively […]
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Cannabis retailer High Tide continues US e-commerce acquisition spree
Canadian cannabis retail chain High Tide is making yet another U.S. e-commerce acquisition, entering a $3.85 million deal to acquire online marijuana accessories retailer DankStop. Under the terms of the deal announced Tuesday, High Tide’s U.S. subsidiary will purchase 100% of DankStop shares for $3.85 million in High Tide shares. The planned acquisition is the […]
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Online cannabis sales boom amid COVID-19 spurs delivery-service acquisitions
The explosive growth of e-commerce during the COVID-19 pandemic has propelled new interest in acquisitions involving direct-to-consumer cannabis delivery. Some marijuana companies have acquired delivery-only cannabis dispensaries, while others have spent more to acquire vertically integrated MJ firms with home-delivery operations included. Companies involved in recent delivery-related acquisitions have said that the deals help them: […]
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Ayr to acquire Nevada marijuana grower, concentrates producer for $17M
Multistate marijuana operator Ayr Wellness said it is spending $17 million to acquire two Nevada cannabis businesses, Tahoe Hydroponics Co., a cultivator, and NV Green, a concentrates producer. Tahoe and NV Green are separate companies but have “the same principals involved,” according to an Ayr spokesperson. The acquisition’s $17 million price tag includes $5 million […]
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When setting cannabis retail prices, covering expense is priority No. 1
Whether they’re shopping in a newly legal market and comparing prices against illicit-market marijuana or weighing prices between a variety of regulated stores in a more mature market, cannabis consumers can be highly sensitive to pricing.
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Court approves Canadian marijuana producer CannTrust’s restructuring plan
A court approved a plan for troubled Canadian marijuana producer CannTrust Holdings to reorganize under Canada’s Companies’ Creditors Arrangement Act (CCAA), the Ontario-based business said. CannTrust expects the plan approved by the Ontario Superior Court of Justice to be implemented within three to five months, according to a Friday afternoon news release. However, the plan’s […]
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Jushi closes $5M acquisition of Ohio medical marijuana cultivator OhiGrow
Florida-based multistate marijuana company Jushi Holdings closed its acquisition of Ohio medical marijuana grower OhiGrow in a cash deal worth $5 million. OhiGrow is one of 34 licensed cannabis cultivators in Ohio, according to a Jushi news release issued Thursday. The acquisition includes a 10,000-square-foot facility and 1.35 acres of land in Toledo, Ohio, with […]
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Canopy Growth sued by Cointreau over cannabis beverage name
Canada-based cannabis producer Canopy Growth is being sued in a U.S. federal court by French orange liqueur producer Rémy Cointreau, which alleges that Canopy’s line of “Quatreau” cannabis beverages willfully infringes on the Cointreau trademark. The name of Canopy’s drink (pronounced “Kwatro”) sounds so similar to Cointreau’s own brand name (pronounced “Kwantro”) that “confusion is […]
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