Marijuana Sales, Funding & Banking News

Cresco Labs secures up to $200M in debt for marijuana operations

Cresco Labs, a multistate cannabis operator based in Chicago, said it has secured up to $200 million in debt funding from a syndicate of lenders. The money is earmarked to: Expand operations in Illinois, where it’s based. Finance pending acquisitions Fund other growth initiatives. The company expects to draw down up to an initial $100 […]

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US House lawmakers make marijuana banking reform pitch to key senator

The four lead sponsors of the successful cannabis banking bill in the U.S. House of Representatives are urging the chair of a key U.S. Senate panel to work in partnership to move the issue forward in the Republican-controlled Senate. In a letter released Tuesday, the four representatives praised Senate Banking Chair Mike Crapo, an Idaho […]

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Chart: Good – not great – first year of medical cannabis sales in Ohio

Ohio’s medical marijuana industry pulled in nearly $60 million in its first year of sales, with increased access to dispensaries and falling prices making up for the market’s sluggish start. Roughly 50% of the state’s total medical marijuana sales came in the last quarter of 2019, but it wasn’t enough to drive sales to the heights […]

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Week in Review: IL adult-use marijuana stores face shortages, Michigan early recreational MJ sales near $6.5M, Harvest pivots on deals & more

After the Jan. 1 launch, some Illinois adult-use cannabis retailers have cut off customers temporarily to conserve inventory, recreational marijuana sales in Michigan hit almost $6.5 million in first month, Harvest Health & Recreation looks to terminate an acquisition – and more of the week’s top MJ business news. Huge rec sales in Illinois lead to some shop closures The […]

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Some marijuana firms turn to small investor opportunities in tight funding climate

Cannabis companies in the United States currently face a tough environment in terms of raising money. However, as an example of how marijuana businesses are looking to address this funding challenge, one California producer is turning to mom-and-pop investors as opposed to venture capital. Goldenseed, a privately owned Santa Cruz-based cultivator and processor, said it […]

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Multistate marijuana firm Curaleaf raises $275 million in debt

Curaleaf, a Massachusetts-based multistate marijuana operator, secured $275 million in debt from a syndicate of lenders. It’s believed to be the largest amount of debt ever raised in the U.S. marijuana industry. The company plans to use the money to refinance existing debt, fund previously announced acquisition expenses and capital expenditures and for general corporate […]

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Week in Review: Cannabis banking reform hits snag, recreational MJ goes to New Jersey voters, merger falls through & more

The head of a U.S. Senate banking panel signals marijuana banking reform could take longer than the cannabis industry hoped, legislators in New Jersey agree to put recreational marijuana legalization in front of voters in 2020, another cannabis business merger hits the skids – and more of the week’s top MJ business news. Key US […]

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Key US senator opposes marijuana banking bill

U.S. Sen. Mike Crapo, the chair of a key U.S. Senate committee, struck a blow against a crucial banking bill for the cannabis industry. The Republican said in a statement that he opposes a U.S. House-passed bipartisan bill to give banks and credit unions legal cover to serve cannabis firms. However, he is open to […]

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