Marijuana Sales, Funding & Banking News

Cannabis firm Tilray’s revenue up, but wider loss reported

Canadian marijuana company Tilray on Tuesday reported revenue of 60.9 million Canadian dollars ($45.9 million) for the second quarter, up almost four times from the same period in 2018. Net loss for the period, which ended June 30, was $35.05 million compared with a $12.83 million loss in the second quarter 2018. Tilray, based in […]

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Acreage reports improved cannabis revenue, net loss for quarter

Acreage Holdings, a New York-based multistate marijuana operator, on Tuesday reported net quarterly revenue of $17.7 million for the three months ended June 30, up more than five times from the same period last year. Net loss totaled $33.9 million for the company, which is due to be acquired by Canadian cannabis giant Canopy Growth […]

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Cronos boosts quarterly marijuana revenue, reports operational loss

Toronto-based Canadian cannabis company Cronos Group on Thursday reported second-quarter revenue of 10.24 million Canadian dollars ($7.7 million), triple the CA$3.4 million the firm declared in the same period last year. Net revenue for the first half of the year totaled CA$16.7 million – more than double the CA$6.34 million Cronos reported in the same […]

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Thrive Capital to invest in marijuana company LeafLink

Thrive Capital Management, an investment company whose founder has ties to the Trump administration, is set to invest in the marijuana industry for the first time, leading a $35 million funding round for online cannabis inventory and ordering platform LeafLink. New York-based Thrive was founded in 2009 by Josh Kushner, whose brother, Jared Kushner, is a […]

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Alaska credit union to nix pilot banking program for cannabis-related businesses

A credit union in Alaska will soon end a program it launched to provide some marijuana businesses in the state with checking and savings accounts in an attempt to reduce their reliance on cash. Anchorage-based Credit Union 1 said it will formally shutter the service Aug. 30. The catalyst, according to the credit union, was the […]

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Marijuana-infused product brand Dixie inks licensing deal with Arizona Iced Tea maker

Denver-based Dixie Brands, a longtime manufacturer of marijuana-infused products,  reached a licensing deal with Arizona Beverage Co., the firm behind Arizona Iced Tea. Arizona Beverage Co., based in Woodbury, New York, is entering the marijuana-infused beverage and edibles market in the United States and Canada in an effort to make up for lost ground in […]

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Columbia Care reports higher marijuana revenue, bigger losses

Columbia Care, a New York-based multistate cannabis operator, reported revenue of $19.3 million for the second quarter ended June 30, up from $9.6 million in the same period last year. Net loss for the period was $33.7 million, compared with a loss of $4.2 million in the second quarter of 2018. The company said the […]

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Recreational marijuana sales and business licenses trending upward in Colorado

Adult-use cannabis sales account for an increasing portion of overall legal marijuana commerce in Colorado, according to new state data, with the number of adult-use MJ business licenses also on the rise. Based on an annual update from the Colorado Marijuana Enforcement Division, 66% of the total pounds of marijuana flower and 86% of the total […]

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