Medical cannabis patients in Arkansas spent $211.3 million on MMJ between Jan. 1 and the end of September as the state’s legal marijuana market approaches new heights.
Solomon Israel
Solomon Israel's Latest Posts
Washington state suspends marijuana testing laboratory’s certification
Washington state regulators suspended the quality-assurance certification for testing lab True Northwest.
Hemp biotech firm 22nd Century Group cuts debt by $8.1 million
Agricultural biotechnology company 22nd Century Group, which focuses on hemp, tobacco and hops, says it has reduced the outstanding amount of its senior secured debt by $8.1 million.
Quebec’s government marijuana retailer SQDC appoints new CEO
Suzanne Bergeron has been installed as the new president and CEO of the Société québécoise du cannabis, the governmental marijuana retail monopoly in the Canadian province of Quebec.
Nasdaq finds cannabis ancillary firm Agrify noncompliant after late filings
Publicly traded cannabis tech company Agrify Corp. has received a formal noncompliance notification from the Nasdaq, the latest predicament for the firm’s listing on the high-profile stock exchange.
New York’s recreational marijuana sales total $83 million in first 3 quarters
Retail sales of legal recreational marijuana in New York were worth $83 million between the beginning of 2023 and Sept. 29, according to a new preliminary estimate from the state’s cannabis regulator.
Marijuana MSO Cresco Labs exits Arizona, secures mortgage in New York
Marijuana multistate operator Cresco Labs has exited Arizona by selling its only asset in the state, Encanto, for $6.5 million in cash to Mint Cannabis.
Marijuana operator gets $22M in loans from Minnesota governmental agencies
Hwy35, a Missouri-based marijuana operator, secured $22 million in funding from two state agencies in Minnesota as well as a municipality.
Marijuana MSO 4Front Ventures takes out $10M loan for Illinois operations
Multistate marijuana company 4Front Ventures Corp. obtained a $10 million senior secured credit facility, which will be put toward its expanding retail operations in Illinois.
What the end of 280E might mean for cannabis business taxes
As the U.S. Drug Enforcement Administration weighs whether to revise marijuana to a Schedule 3 controlled substance, regulated cannabis producers are looking forward to the prospect of easing their heavy tax burdens under Section 280E of the federal tax code.
Michigan marijuana firm Skymint’s assets bought from receivership
Tropics LP has acquired most of the assets of Michigan cannabis company Skymint, which entered receivership this year after defaulting on a loan from Tropics.
Marijuana MSO Trulieve seeks $143M federal refund for 280E taxes
Multistate marijuana company Trulieve Cannabis Corp. is seeking a federal tax refund of $143 million, saying it “believes it does not owe” the taxes it paid over three years.
