Canadian recreational cannabis sales down 6.2% in November
Retail sales of recreational cannabis totaled 412.1 million Canadian dollars ($305.8 million) in November, a decline of 6.2% from October.
Retail sales of recreational cannabis totaled 412.1 million Canadian dollars ($305.8 million) in November, a decline of 6.2% from October.
Petalfast, a California-based cannabis sales, marketing and distribution company, raised roughly $8 million from investors, including private family offices.
Wisconsin State Assembly Speaker Robin Vos says he won’t amend a Republican bill that would create a restrictive medical cannabis regime, despite opposition from some fellow GOP lawmakers.
Canadian cannabis grower and processor Safari Flower Group is insolvent and has received an initial creditor protection order under Canada’s Companies’ Creditors Arrangement Act.
A new regulatory change allowing one company to operate up to 150 recreational cannabis stores in Ontario – a twofold increase from the previous cap of 75 – is expected to benefit large retail chains and drive more consolidation in Canada’s most valuable adult-use market.
Consumers in Illinois spent more than $1.6 billion on legal adult-use cannabis in 2023, a market record despite a nearly 15% year-over-year decline in sales to out-of-state shoppers.
Lawmakers in Washington DC passed legislation targeting unlicensed cannabis “gifting” stores, potentially empowering a new crackdown on the illicit retailers.
Consumer spending on legal medical marijuana in Arkansas reached $283 million in 2023, an annual record and a 2.5% increase over the $276 million in sales reported in 2022.
Hard-pressed Canadian cannabis company Canopy Growth Corp. is selling equity for cash, announcing a private placement of shares and warrants to raise $30 million.
Humble & Fume, a Canadian cannabis and accessories distributor, received an initial creditor protection order and intends to go private.
Kentucky Gov. Andy Beshear is calling for additional qualifying health conditions for the state’s upcoming medical marijuana program, which would expand the total addressable market for MMJ businesses.
The Oneida Indian Nation has launched recreational marijuana sales from its vertically integrated business in Verona, New York.