Dispensary/Retail Store Business News

Cannabis legislation in Ontario expected in late September

Ontario’s Progressive Conservative government is expected to introduce legislation in late September to regulate the recreational cannabis industry, according to multiple sources with knowledge of the matter. The legislation could be introduced within days of the Sept. 24 start of the fall session. Last month, the new government reversed the previous provincial government’s commitment to […]

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L.A. crackdown: 105 unlicensed cannabis firms, 500-plus people targeted

Los Angeles prosecutors have filed misdemeanor charges against 515 people in a clampdown on 105 illegal marijuana businesses in the city – a move that could benefit legal MJ companies by helping to eliminate black-market rivals. The businesses targeted include retail shops, delivery services and cultivation operations, of which nearly two dozen have closed since […]

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MedMen inks CA$75M equity financing deal to expand US cannabis operations

Los Angeles-based MedMen Enterprises says it expects to raise up to 75 million Canadian dollars ($57 million) in a bought-deal equity financing plan, with the proceeds to be used to expand its U.S. retail footprint. Here’s a rundown of the deal: Toronto-based Eight Capital and Cormark Securities – as co-lead underwriters and joint bookrunners – […]

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Oregon marijuana firm lands $12.5M from Canada’s Tidal Royalty to fund expansion

Oregon-based Diem Cannabis is poised to enter a new market after landing upwards of $12.5 million in financing from Toronto-based Tidal Royalty Corp. The capital will be used over the next three years to develop and operate a large-scale cultivation and processing facility and up to four dispensaries, all in Massachusetts, the firms announced in […]

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California political groups launch website to shoot down statewide marijuana delivery

Three heavy-hitting political organizations in Sacramento, California, announced a new website Friday in a push to convince state regulators to abandon plans to allow marijuana delivery statewide. The cannabis industry largely supports the statewide delivery policy, arguing it’s necessary to guarantee access for homebound medical marijuana patients. It also would boost sales by reaching municipalities […]

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Marijuana exchange-traded fund takes in $22 million in August

Investors are flocking to a U.S.-listed exchange-traded fund (ETF) that tracks nearly 40 Canadian and American cannabis firms. The $436 million ETFMG Alternative Harvest ETF – which trades on the NYSE Arca under the ticker symbol MJ – has taken in around $22 million in August, putting it in a position to post its largest monthly inflow […]

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Oregon probes two dispensaries for selling large quantities of medical marijuana

Oregon regulators said they are investigating two retailers that account for more than 33% of all individual sales totaling 8 ounces or more of medical cannabis. Willamette Week reported that the Oregon Liquor Control Commission (OLCC) is investigating the dispensaries, which the agency declined to identify. They are located in Multnomah County, which includes Portland. The disclosure […]

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Earnings highlights: Hedge fund billionaire Leon Cooperman bets on cannabis; two firms deliver solid Q2 results

Share prices at cannabis firms Green Thumb Industries and Tilray are on the rise after solid second-quarter performances – and mainstream investors are taking note, with at least one hedge fund billionaire throwing his support behind the industry. The two businesses reported their first earnings as newly public companies after the markets closed Tuesday. Here’s […]

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California begins enforcement against unlicensed marijuana businesses

California cannabis regulators have started to demonstrate there are teeth behind the state’s new rules. Here’s what you need to know: A 47-year-old Orange County resident was arrested Friday by local police for “unlawfully operating a marijuana dispensary” in Costa Mesa, according to a news release from the state Bureau of Cannabis Control (BCC). The […]

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Oregon slashes daily purchase limits for medical cannabis patients

In a bid to stem the flow of marijuana product to the black market, Oregon regulators have ordered a steep cut over the next six months in the amount of cannabis that medical MJ patients can buy on a daily basis. The Oregon Liquor Control Commission (OLCC) last Thursday reduced purchasing limits for Medical Marijuana […]

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