Marijuana Dispensary & Cannabis Store News

Unlicensed Michigan medical cannabis dispensaries allowed to stay open

Michigan regulators are permitting roughly 50 unlicensed medical marijuana dispensaries to remain open past a March 31 deadline, in compliance with a judge’s decision. The state’s Bureau of Marijuana Regulation said in a statement issued Friday afternoon that “until further order of the court,” it wouldn’t enforce the deadline against the temporary operating facilities, The […]

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Rhode Island medical cannabis sales hit new highs

Rhode Island’s medical marijuana market is posting record numbers, with the state’s three MMJ retailers on track to total about $56 million in sales this year, up $17.8 million, or 46.6%, from last year. The Providence Journal reports area doctors, including those in nearby Massachusetts, have written recommendations for MMJ to the more than 18,000 registered […]

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Detroit medical marijuana dispensary sues over licensing deadline

An unlicensed medical cannabis dispensary in Detroit has sued the state, just days before regulators are poised to shutter shops that have not obtained appropriate permits. Green Genie filed suit to allow unlicensed dispensaries to stay open past a March 31 deadline, MLive.com reported. Roughly 50 dispensaries are facing cease-and-desist orders after that deadline. For […]

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WV gov vetoes cannabis bill that would tax vertically integrated firms at lower rate

West Virginia Gov. Jim Justice vetoed a medical marijuana bill because he said it “favors wholly vertically integrated businesses” by taxing them at a lower rate than stand-alone cultivators, processors and retailers. Mike Pushkin, a Democratic delegate and sponsor of the bill, told The Register-Herald of Beckley that the governor’s veto “sets back the entire […]

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L.A. mayor considers crackdown on unlicensed marijuana shops

Los Angeles is contemplating a major clampdown on illegal cannabis shops that have bedeviled the licensed industry’s bottom line. Mayor Eric Garcetti said Wednesday he is considering adding “tens of millions” of dollars to the fight against the flourishing illicit market. The mayor didn’t put a precise figure on the spending for the city’s upcoming […]

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Vireo enters Arizona medical cannabis market

Vireo Health, a Minneapolis-based cannabis group, said it is expanding into Arizona with the acquisition of Arizona Natural Remedies (ANR). Vireo declined to disclose the value of the acquisition. The company, which started trading on the Canadian Securities Exchange earlier this month, will now operate in seven states. ANR operates a dispensary in Phoenix and an Amado-based cultivation […]

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Cronos Group reports boosted cannabis revenue but wider losses in Q4

Cronos Group, a Toronto-based licensed cannabis party, posted sizable fourth-quarter revenue, the company said in an earnings report Tuesday, but its net loss for the period grew sharply – fueled in large part by financial reporting requirements. Cronos reported fourth-quarter revenue of 5.6 million Canadian dollars ($4.2 million) for the period ended Dec. 31, 2018, up nearly 250% […]

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Cresco closes in on approval to enter Michigan marijuana market

Cresco Labs, a Chicago-based multistate cannabis operator, said it received prequalification licensing approval to enter the Michigan cannabis market. The company, which earlier this month said it plans to acquire Florida-based medical marijuana group VidaCann for $120 million, would have production and retail operations in 11 states once all outstanding applications are approved. Cresco has applied […]

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Cannabis financier Gotham Green Partners to invest up to $250 million in MedMen

MedMen, a California-based multistate marijuana operator, said it will receive an investment of up to $250 million from private equity fund Gotham Green Partners (GGP). The investment – a convertible credit facility – is believed to be the largest to date by a single investor in a publicly traded cannabis company with U.S. operations. The money […]

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Florida dispensary conducts first smokable medical marijuana sale

Only days after Florida’s governor signed a bill allowing medical cannabis dispensaries to sell smokable products, Trulieve, the largest cannabis retailer in the state, began selling them. Trulieve sold the first smokable flower to a medical marijuana patient in Tallahassee on Thursday, the Tallahassee Democrat reported, and the company plans to have smokable products in […]

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