Briefs

Marijuana firm MedMen scales back financing, appoints interim CFO

MedMen Enterprises is slashing its latest funding round as the firm’s stock tumbles and the California cannabis company hunts for a new chief financial officer. The multistate cannabis firm revealed Friday that CFO James Parker resigned. The company appointed Jim Miller, vice president of accounting, as interim CFO while the firm searches for a replacement […]

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First recreational cannabis stores open in Massachusetts to big crowds

Despite long lines and the uncertainty that comes with launching adult-use marijuana sales, the owners of the first two stores in Massachusetts permitted to sell recreational cannabis and their customers say sales and shopping experiences have gone smoothly. Cultivate in Leicester and New England Treatment Access (NETA) in Northampton both opened at 8 a.m. ET […]

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California’s Q3 marijuana tax revenues signal ongoing MJ business turbulence

The latest quarterly cannabis tax revenues reported by the state of California reveal that while the legal cannabis market is continuing to grow and stabilize, it’s also underperforming expectations – a trend that became obvious earlier this year. Here are some insights into the reasons: California’s legal marijuana businesses have struggled in the face of […]

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Oregon recreational cannabis sales soar as prices continue to drop

Rampant overproduction in Oregon’s market for legal, recreational marijuana has produced a 50% drop in prices, according to recent estimates by state economists. The widely documented collapse has been tough on cannabis businesses such as cultivators and retailers – but a boon for consumers. “The real economic impact from recreational marijuana will come not from the […]

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Citing safety, OK medical marijuana board makes producers’ info harder to find

The Oklahoma Medical Marijuana Authority removed the addresses of MMJ growers and processors from its online commercial license database in response to security concerns. The Tulsa World reported that groups in the cannabis industry believe the move this week is a positive step for safety and security. The authority published the addresses of dispensaries, growers […]

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Iowa doctors show hesitance about low-THC medical cannabis program

Fewer than 600 patients have been approved to participate in Iowa’s low-THC medical marijuana program, largely because doctors there are uneasy about certifying patients to get access to the medicine. And that’s not particularly good news for cannabis businesses in the state. Under Iowa’s low-THC cannabis program, products cannot exceed 3% THC. Only about 325 of the […]

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Ohio judge: Medical marijuana ownership ‘racial quota’ is unconstitutional

An Ohio judge struck down a provision in the state’s medical cannabis program stipulating that 15% of licenses go to minority-owned groups, saying it’s unconstitutional. Franklin County Judge Charles Schneider said the provision denied Greenleaf Gardens, one of the cultivation license applicants, of its rights because two lower-rated, minority-owned firms were picked ahead of it. […]

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MA says first recreational cannabis stores in eastern US can open Tuesday

Two marijuana stores in Massachusetts were given the green light to begin selling to recreational customers on Tuesday, making them the first commercial cannabis stores in the eastern United States. The Cannabis Control Commission (CCC) announced Friday that New England Treatment Access, in Northampton, and Cultivate Holdings, of Leicester, were authorized to open in three […]

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Leading US marijuana firms list shares on Canadian stock exchange

Three top American cannabis firms made their trading debuts on the Canadian Securities Exchange (CSE) this week, continuing the frenzy of U.S.-based marijuana companies turning to Canada’s public markets to raise capital. Here’s a quick rundown of what investors need to know:   Multistate cannabis operator Acreage Holdings listed its shares under the ticker symbol ACRG.U […]

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Michigan medical cannabis shortage might result in dispensary shutdowns

A lack of medical marijuana in Michigan could potentially result in the state’s approximately 40 licensed dispensaries shuttering their businesses until spring. Cannabis cultivators in the state didn’t start getting permits to grow until August, and that means a larger supply of licensed MMJ won’t be available in the state until next year when more […]

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Gubernatorial win could mean Kansas push toward medical marijuana legalization

The election in Kansas of Democrat Laura Kelly earlier this month puts a medical marijuana supporter in the state’s governor’s seat, and she recently said she senses “some momentum” among legislators to legalize MMJ with strict regulations, The Wichita Eagle reported. MMJ bills have been considered without success for years in Kansas, even though some […]

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Attorney: Utah medical cannabis compromise ‘undermines’ voters’ decision

A pair of pro-marijuana groups in Utah accused the Mormon church of “extreme undermining” with regards to a medical cannabis ballot measure. The letter, sent by attorney Rocky Anderson on behalf of the groups Together for Responsible Use and Cannabis Education (TRUCE), and the Epilepsy Association of Utah, accuses the church of trying to interfere […]

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