Marijuana Sales, Funding & Banking News

CBD maker Charlotte’s Web to start trading on Canada’s top stock exchange

Charlotte’s Web, a Boulder, Colorado-based CBD manufacturer, said Wednesday it received approval to uplist to the Toronto Stock Exchange (TSX). The company expects to start trading on the TSX on May 31 and will maintain its Canadian Securities Exchange ticker symbol CWEB. The move to the TSX – the world’s ninth-largest exchange in terms of market […]

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Multistate cannabis firm Acreage reports first-quarter net loss of $31.2 million

Acreage Holdings, a New York-based multistate cannabis operator, reported quarterly revenues of $12.9 million for the three months ended March 31, 2019. The company also reported a net loss for the period of $31.2 million. The company did not disclose in its news release how this compared to revenue and profit/loss for the year-ago period. […]

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Is Massachusetts adult-use marijuana market being propped up by New Yorkers?

Customers making the trek from nearby New York are responsible for as much as 50% of recreational marijuana sales so far in Massachusetts, according to reporting by Crain’s New York Business. In Great Barrington, a town on Massachusetts’ western edge that’s only a one-hour drive from Albany and less than three hours from New York City, Theory […]

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Chart: Arkansas medical marijuana sales top $353,000 via just two dispensaries, outpacing initial OH sales

Sales of medical marijuana in Arkansas are off to a strong start, with patients purchasing more than 50 pounds of cannabis in nearly 5,000 transactions in the first week dispensaries were open. The initial sales eclipsed those in Ohio, which has nearly four times the population. With sales underway, the Arkansas market could grow at a […]

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MA authority approves acquisition of Sira Naturals by Canadian marijuana firm

The Massachusetts Cannabis Control Commission approved what is believed to be the first sale of a marijuana business in the state. Sira Naturals, which owns three dispensaries in the Boston area, is being sold to Cannabis Strategies Acquisition, a Toronto-based company that invests in cannabis businesses. Last week, regulators delayed a vote on the deal […]

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Haborside CEO: Cannabis company likely to start trading on CSE in June

Harborside, which has well-established cannabis dispensaries in the San Francisco Bay Area, is expected to start trading on the Canadian Securities Exchange (CSE) in the first week of June. While the company initially announced its plans to go public in August 2018, the process actually has been about 18 months in the making, CEO Andy […]

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MMJ expansion moves forward in NJ, cannabis banking, Canada shortages toll & more

New Jersey legislators advance a medical marijuana program expansion, state banking associations get behind federal banking reform, Canada’s cannabis shortage has international implications – plus other important news from around the industry. New Jersey MMJ expansion on track The Garden State’s legislature is moving toward approving a major expansion of its medical cannabis program, which to […]

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MI House supports federal act to protect banks doing business with marijuana firms

Michigan House legislators adopted a resolution that asks the U.S. Congress to make laws providing protection to banks that take medical cannabis businesses as customers. The resolution urges Congress to pass the Secure and Fair Enforcement Bank Act (SAFE Act) and notes that “because of the federal prohibition, there is an extreme risk to provide financial […]

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Marijuana firm MedMen closes initial $80 million in funding from Gotham Green

MedMen, a multistate cannabis company based in California, said it closed on an initial $80 million tranche of funding from New York private equity group Gotham Green Partners (GGP). The money is the first part of a $250 million convertible credit facility with GGP that MedMen secured in March. More details on the funding can […]

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TerrAscend reports quarterly net loss on cannabis revenues of CA$14.6 million

TerrAscend, a Toronto-based vertically integrated marijuana company, reported revenues of 14.6 million Canadian dollars ($10.95 million) for the quarter ended March 31, 2019, with a net loss of CA$11.2 million. The company did not report revenues for the comparable quarter in 2018. Its net loss for that period was CA$2.35 million. During the quarter, TerrAscend […]

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