Marijuana Sales, Funding & Banking News


Cannabis firm iAnthus defaults on interest payments, probes CEO

Multistate marijuana operator iAnthus, partially blaming the coronavirus, said it is unable to meet interest obligations totaling $4.4 million on $157.5 million in debt. The New York-based company also delayed announcing its quarterly earnings results. “The decline in the overall public equity cannabis markets, coupled with the extraordinary market conditions that began in Q1 2020 […]

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Chart: Coronavirus takes its toll on March adult-use marijuana sales

Recreational marijuana sales in four key markets decelerated in March as the COVID-19 crisis continues to disrupt both the cannabis industry and the broader U.S. economy. According to point-of-sale data provided by Seattle-based Headset, recreational cannabis sales in Colorado and Nevada declined from March 2019 to March 2020, the first time that monthly adult-use sales […]

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Cannabis REIT inks $49 million sale-leaseback deal with Ascend

Innovative Industrial Properties, a real estate investment trust that specializes in the marijuana industry, bought a cannabis cultivation and processing facility in Massachusetts from Ascend Wellness Holdings (AWH) in a $49 million sale-leaseback deal. San Diego-based IIP paid $26.8 million to Boston-based AWH – a vertically integrated, multistate marijuana operator – for a 199,000-square-foot facility […]

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VIDEO: Coronavirus exacerbating cannabis credit crunch in California

John Schroyer, Marijuana Business Daily’s senior reporter based in California, spotlights in the video clip below how the coronavirus crisis has worsened what was already a tight funding climate in the cannabis industry. For more insights on the shifts in marijuana regulation and markets in California – including a discussion about how the novel coronavirus is impacting […]

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Cannabis firm Harvest Health seals $25 million Franklin Labs purchase

Multistate marijuana operator Harvest Health & Recreation announced on Friday it closed on its previously announced $25.5 million purchase of Pennsylvania medical cannabis company Franklin Labs. The closing comes a day after Harvest revealed that it would no longer buy Chicago-based Verano Holdings, which was for a time was one of the biggest merger and acquisitions announced […]

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Harvest Health, Verano end mammoth marijuana merger

What was one of the largest acquisitions ever announced in the marijuana industry – a deal valued at $850 million when Phoenix-based multistate marijuana operator Harvest Health & Recreation said a year ago it would buy Chicago’s Verano Holdings – has been mutually terminated, the two companies said Thursday. The coronavirus and other financial and regulatory […]

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High-profile founders leaving US marijuana companies signals new phase for industry

A number of high-profile founders of U.S.-based cannabis companies have stepped down in the past several weeks amid continuing struggles to move their firms toward profitability.  Industry experts suggest this is a sign of maturation among marijuana businesses as investors demand they focus more on profits than raising capital and relying on previously booming stock prices. […]

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Full suite of Farm Credit Canada’s financial lifelines open to cannabis businesses

Farm Credit Canada (FCC), a government-owned agricultural lender, says the full suite of its lending products is available to legal cannabis producers across the country – ensuring operators have access to the capital they need to overcome any short-term cash-flow challenges. While the lending products are not tied to the COVID-19 pandemic, any liquidity offered through […]

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Week in Review: Coronavirus’ effects on marijuana firms, Tilray plans $90M raise, Maine aims to tackle illicit MJ & more

Marijuana retailers, vape product suppliers and MJ industry conferences and trade shows are among the cannabis businesses dealing with challenges related to coronavirus. MJBizDaily takeaway: On the supply side, businesses that rely on cannabis vape products sourced from China are feeling the strain, as are manufacturers that use Chinese companies to provide packaging. But many are looking […]

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Investors target distressed cannabis companies for new opportunities

Could it be a win-win deal? An increasing number of investors – including mainstream investment banks new to cannabis – have begun seeking out cash-strapped marijuana companies with the aim of pumping money into them to provide a financial lifeline. The investments offer the distressed companies a chance to get back up on their feet. […]

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Investing in distressed marijuana businesses: Q&A with Trava Capital’s James Parker, former MedMen CFO

James Parker is no stranger to the marijuana industry or distressed-asset investing, and he’s aiming to combine both with a private equity firm he founded in December – California-based Trava Capital. A former chief financial officer at MedMen, Parker made headlines in 2019 by suing the company for breach of contract. Parker began Trava Capital […]

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