Florida-based cannabis multistate operator Jushi Holdings said it has closed a private offering with proceeds of $72 million.
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Canadian marijuana company Flowr selling assets for CA$5.1 million-plus
British Columbia cannabis cultivator The Flowr Corp. is selling “substantially all” of its assets to Avant Brands K1 as part of a sale and investment solicitation process after entering creditor protection in late October.
Marijuana company Item 9 Labs cutting staff by 20%
Vertically integrated marijuana producer and retailer Item 9 Labs Corp. is cutting its staff by 20% as part of a push for profitability.
Cannabis sector layoffs continue as Weedmaps cuts 25% of staff
The parent company of cannabis advertising platform Weedmaps is laying off roughly 25% of its staff, or up to 175 employees.
Minnesota pharmacy board sues over ‘noncompliant’ marijuana edibles
The Minnesota Board of Pharmacy has filed a lawsuit against a group of three cannabis companies in the state, alleging that their marijuana edibles exceed the state’s THC potency limits and disregard rules around appearance.
Canadian medical cannabis companies look to benefits-covered patients for growth
In the context of a shrinking medical marijuana market, some Canadian companies are focusing on selling medical cannabis to patients whose purchases are covered by employee health benefit plans, citing improved customer retention and consistency.
Illinois picks new marijuana regulator; Michigan removes chief’s interim tag
Illinois Gov. JB Pritzker has appointed Erin Johnson as the state’s head marijuana regulatory officer, while Michigan Gov. Gretchen Whitmer made permanent Brian Hanna’s role as that state’s chief regulator.
Aurora Cannabis repurchases CA$103 million worth of debt
Canadian marijuana company Aurora Cannabis is continuing its debt-reduction quest, repurchasing roughly 103 million Canadian dollars ($76.1 million) worth of convertible notes.
UN report focuses on ‘economic and social potential’ of industrial hemp
The United Nations Conference on Trade and Development (UNCTAD) released a special report on industrial hemp, including a focus on how developing economies can “exploit its economic and social potential.”
Newfoundland ends cannabis vape ban but keeps flavor restriction
The government of the Canadian province of Newfoundland and Labrador has reversed its late-2019 ban on sales of cannabis vape products while retaining a restriction on added non-cannabis flavors.
Molson Coors exiting CBD drink joint venture in US with Hexo
The Molson Coors Beverage Co. is getting out of the CBD drink business in the United States and ending its U.S. Truss joint venture with Canadian cannabis producer Hexo Corp. as of Dec. 31.
Does Canada’s shrinking medical cannabis market offer lessons for other nations?
Canada’s regulated medical cannabis market has dwindled significantly from its peak, declining well before recreational marijuana legalization in October 2018 and continuing that downward trend as adult-use sales displaced purchases through regulated medical channels.
