Lawmakers in Washington DC passed legislation targeting unlicensed cannabis “gifting” stores, potentially empowering a new crackdown on the illicit retailers.
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Arkansas medical marijuana sales hit $283 million in 2023, up 2.5%
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.
Troubled cannabis company Canopy Growth raising $30 million
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.
Cannabis and accessories distributor Humble & Fume gets creditor protection
Humble & Fume, a Canadian cannabis and accessories distributor, received an initial creditor protection order and intends to go private.
Kentucky eyes new qualifying conditions for medical marijuana, taps Metrc
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.
Oneida Indian Nation opens recreational marijuana sales in New York
The Oneida Indian Nation has launched recreational marijuana sales from its vertically integrated business in Verona, New York.
Canadian marijuana retailer Trees Corp. enters creditor protection
Insolvent Canadian recreational marijuana retailer Trees Corp. has entered creditor protection, becoming the latest debt-laden cannabis company to keep its creditors at bay while seeking restructuring.
Marijuana fintech company POSaBit to move to TSXV, raises funds to pay debt
Marijuana payment technology company POSaBit Systems Corp. has applied to list its shares on the TSX Venture Exchange, moving away from the Canadian Securities Exchange.
Rhode Island marijuana sales top $100M in first year of recreational retail
Combined adult-use and medical marijuana sales in Rhode Island totaled $105 million in the year since recreational retail sales launched in December 2022.
Maryland adult-use cannabis sales hit $56M in November; DC sales dwindle
Adult-use cannabis sales in Maryland grew to nearly $56 million in November, a 1.5% increase over October.
Marijuana cultivator, retail franchiser Item 9 Labs seeks sale of business
Item 9 Labs Corp., the parent company of marijuana retail franchise business Unity Rd. and Arizona cultivator Item 9 Labs, has retained Sharp Capital Advisors to help sell its business.
Canadian cannabis insolvencies persist in 2023 amid industry woes
Financially distressed cannabis companies continued to seek refuge in Canadian insolvency law in 2023, although such insolvency filings under one statute declined from 2022.
