Marijuana Sales, Funding & Banking News

Canadian marijuana firm Sundial, California’s KushCo seek Nasdaq listings

Sundial Growers, a Canadian cannabis company, and California-based KushCo Holdings have applied to be listed on the Nasdaq. Sundial, based in Calgary, Alberta, would operate under the ticker symbol SNDL. The number of shares to be offered and the price range for the offering have not been determined. The company currently operates two facilities in its […]

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Sol Global cannabis investment firm raises CA$50 million; exec resigns

Sol Global, a Toronto-based international cannabis investment firm, said it raised 50 million Canadian dollars ($37.5 million) in debt financing. The company will use the proceeds to fund its expansion in CBD activities and operations in California, Florida and Michigan. The company also said Jonathan Gilbert resigned as president of its subsidiary, Impact Biosciences, which […]

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Linton’s firing by Canopy follows string of losses, may raise concerns about cannabis sector-mainstream partnerships

Former Canopy Growth co-CEO Bruce Linton may have had suspicions about his future when a special board meeting of the Canadian cannabis giant was convened last Friday. Even though Linton was also Canopy’s chair, he didn’t call the meeting. By Wednesday, Linton was filling up his car with gas at Costco and contemplating his future […]

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Cannabis company Surterra closes $100 million funding, adds executives

Surterra Wellness, an Atlanta-based medical cannabis company, closed a $100 million share offering whose net proceeds will be used to fund acquisitions and capital expenditure. The company also said it is taking on two new directors to help with corporate strategy: Ed Brown, former president and CEO of The Patron Spirits Co. Brown was a participant […]

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Chart: Ranks of US banks serving cannabis firms growing, but data may overstate true number

The number of financial institutions actively banking marijuana-related businesses in the United States is rising, but the true number is far fewer than U.S. Treasury data indicates, according to one industry executive. Data released by the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) shows the number of banks and credit unions actively banking marijuana-related businesses […]

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50% of Ohio’s registered medical marijuana patients not buying, citing high cost

More than 42,000 medical marijuana patients in Ohio have signed up since the program went live in January, but half of those registered haven’t purchased cannabis because it is too pricey. A tight supply as a result of a lack of licensed cultivators, processors and dispensaries is keeping prices steep at retail stores, though costs have […]

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Week in Review: House votes to protect legal MJ, Acreage/Canopy shareholders decide, NY adult-use cannabis roadblock & more

The U.S. House of Representatives approves a bipartisan amendment that would shield state-legal cannabis programs from interference by the U.S. Department of Justice, Acreage and Canopy shareholders OK the planned acquisition, New York’s adult-use cannabis legislation hits a wall – plus other important news from around the industry. US House OKs provision protecting state-legal cannabis industries […]

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Cannabis company Vireo Health expands into Puerto Rico

Vireo Health, a Minneapolis-based multistate marijuana operator, said it is expanding into Puerto Rico, the company’s 11th state or territory of cannabis operations. Vireo will have the opportunity in Puerto Rico to run a cultivation and processing facility plus up to six dispensaries on the island. Christian Gonzalez, a native of the territory who has […]

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