Cannabis Industry & Marijuana Business Briefs

Longtime Bay Area cannabis trade school sues former CFO

The oldest marijuana-focused university in the country, Oakland-based Oaksterdam University,  filed a lawsuit against its former chief financial officer. The lawsuit, among other things, alleges: Assault in 2015 and 2018. Breach of contract. Breach of fiduciary duties. Computer fraud. Oaksterdam CEO and owner Dale Sky Jones alleged in the suit that former CFO Aseem Sappal […]

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California cannabis testing lab raises $22.6 million for expansion

California-based testing lab Cannalysis raised $22.6 million that will fund its expansion in the state as well as bankroll its entry into other marijuana markets in the U.S. The Santa Ana-based company raised the money from Canlab, a cannabis, hemp and CBD testing laboratory network. The unusually large raise for a lab also will help […]

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Two plead guilty in Massachusetts marijuana license extortion case

Two men who authorities allege extorted money on behalf of the mayor of Fall River, Massachusetts, from companies seeking to obtain a state license to operate cannabis retail businesses have pleaded guilty. Antonio Costa, 51, of Fall River, and David Hebert, 54, of Westport, Massachusetts, pleaded guilty in federal court to charges of extortion, conspiracy […]

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Chicago mayor wants to prohibit rec cannabis stores downtown

Chicago’s mayor wants the city to ban recreational marijuana stores in the central business district, a move that could hurt sales downtown. The bans are in zoning rules proposed this week by Mayor Lori Lightfoot, a Democrat. The “exclusion” zones also would prohibit adult-use MJ sales within 500 feet of schools and in residential neighborhoods, […]

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Nevada regulators investigate marijuana lab testing facilities

Nevada regulators launched an investigation into cannabis testing labs after tainted marijuana batches triggered two health advisories. The Las Vegas Review-Journal reported the Department of Taxation started the investigation after discovering potentially doctored THC levels by cannabis laboratories and products with high levels of yeast and mold on store shelves. Department officials say marijuana products […]

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Survey: Many Ohio medical cannabis patients ‘very dissatisfied’ with program

A survey of Ohio’s registered medical marijuana cardholders found that the price of MMJ remains prohibitively expensive and it’s difficult to buy. According to the Ohio State University’s Drug Enforcement Policy Center and the nonprofit advocacy group Harm Reduction Ohio, patients said the biggest barriers to purchasing medical cannabis, in order, were: High costs of […]

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Securities regulator accuses former Canadian Cannabis Corp directors of fraud

Former directors and officers of a Toronto-based cannabis company have been accused by Ontario’s securities regulator of defrauding investors. Canadian Cannabis Corp said Tuesday it received a Statement of Allegations from the Ontario Securities Commission (OCS). According to a report by BNN Bloomberg, the OCS accused the company’s former chief executive and two vice presidents […]

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Maine marijuana regulators try to end seed-to-sale tracking confusion

Maine’s marijuana policy office is seeking to curb confusion about the state’s new track-and-trace system after cannabis business owners complained about the costs of complying with the program. The Maine Office of Marijuana Policy conducted a demonstration of a cloud-based software product provided by Florida-based BioTrackTHC that will use barcode-based tags and labels to track […]

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Linton back in cannabis business as chairman, investor and adviser

Ousted Canopy Growth co-CEO Bruce Linton is getting back into the marijuana business in a big way, resurfacing as a senior executive, investor and adviser in three separate companies in the U.S. and Canada. Linton is joining Michigan-based Gage Cannabis Co. as executive chairman, parent company Wolverine Partners said Tuesday. Gage said in a release […]

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GB Sciences sells Louisiana medical marijuana company for $32 million

Nevada-based GB Sciences, which has been under contract with Louisiana State University to cultivate medical marijuana, sold its 50% ownership stake in GB Sciences Louisiana. The stake will be purchased by Wellcana Plus, a Lafayette, Louisiana-based company which holds the other 50% of the operation, by the end of October, according to a release. The […]

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Cresco Labs, Origin House near closing cannabis deal

Cresco Labs, the Chicago-based multistate marijuana operator, said its acquisition of Canada’s Origin House, a major MJ distributor in California, is significantly closer to completion following further compliance with antitrust requirements. The two companies are now set to compete the transaction by Nov. 15 at the latest. Cresco agreed to acquire Origin House, based in […]

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