Marijuana Cultivation News

Marijuana firm Cresco Labs posts Q4 revenue spike, 2018 profit

Chicago-based Cresco Labs’ revenue more than quadrupled during its fourth quarter, helping pave the company’s path to profitability in 2018. The multistate, vertically integrated company posted fourth-quarter revenue of $17 million – up 411% from the same period in 2017. Cresco said the increase was “driven by expansion into new markets and gains in market […]

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Cannabis firm Harvest Health posts spike in Q4, full-year revenue

Arizona-based Harvest Health & Recreation’s revenue more than doubled during its fourth quarter and fiscal 2018 as the multistate marijuana company continued to expand its retail and wholesale footprint and predicted further expansion this year through acquisitions. Despite the sales gains, the company recorded a net loss for the quarter of $71.1 million – which […]

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MJardin to add marijuana extraction in Nevada with acquisition

Denver-based MJardin Group agreed to buy Carson City Agency Solutions, which does business as Cannabella, an operator of a cannabis extraction facility and producer of edibles and topicals in Carson City, Nevada. Terms of the deal were not released. With the acquisition, MJardin will add extraction capabilities to its existing cultivation operations in Nevada. To […]

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Oregon cannabis regulators consider stiffening noncompliance penalties

Oregon is calling out licensed recreational marijuana operators who fail to follow the law. The Oregon Liquor Control Commission (OLCC), which regulates the state’s legal cannabis industry, noted at its monthly meeting that there “remains significant noncompliance by marijuana licensees failing to abide by the state’s laws and rules.” According to a news release, the […]

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Florida adds eight more medical marijuana business licensees

Florida’s medical cannabis marketplace is set to see a significant boost in the number of businesses that can operate in the state as regulators approved licenses for eight more firms in addition to the 14 existing MMJ operators. The state will grant the additional licenses to companies that failed to gain approval during the first […]

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Aphria, Wayland face challenge over German marijuana cultivation contracts

Germany’s efforts to get domestic medical cannabis cultivation up and running took another step forward Wednesday, as the German Federal Institute for Drugs and Medical Devices (BfArM) confirmed the winners of nine of the 13 available lots for the first round. Four of the lots – granted to Aphria and Demecan in the preliminary results – were […]

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Georgia lifts ban on commercial medical marijuana production

Georgia Gov. Brian Kemp has opened the state to commercial medical cannabis cultivation, signing a bill to create new business opportunities in the Peach State’s limited MMJ program. The measure outlines the first opportunities for private businesses to grow and sell cannabis. Georgia launched its limited MMJ program in 2015, though the cultivation, manufacture or sale of THC […]

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California county making progress on repeal of cannabis cultivation ban

A California county is still working on a new regulatory regime to govern cannabis farmers, which could provide a way back into the legal market for hundreds of growers who’ve been stuck in limbo since January 2018. The Calaveras County Board of Supervisors’ new rulemaking began in February. The movement marks a reversal from a ban enacted over […]

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California licensing snafu could cost cannabis growers thousands in lost revenue, possible shutdowns

California’s marijuana growers are at risk of losing thousands of dollars in revenue as scores of temporary business licenses expire each day before the state can replace them with annual permits. That leaves many cultivators trapped in a licensing logjam with a difficult choice: Continue operating with expired permits – or shut down. This is […]

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