Marijuana Sales, Funding & Banking News

IL treasurer: State medical cannabis firms may collapse without banking reform

Illinois Treasurer Michael Frerichs warned legislators the state’s medical marijuana  industry could collapse if the state doesn’t take action to combat what he called a banking crisis for cannabis businesses. In a statement, Frerichs also asked state lawmakers to support legislation he says would prohibit Illinois regulators from taking any action that would penalize or […]

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Marijuana company Curaleaf to buy Nevada’s Acres Cannabis for $70M

Massachusetts-based Curaleaf, a vertically integrated cannabis operator, agreed to buy Acres Cannabis for $70 million in a cash and stock deal. Acres Cannabis currently operates 269,000 square feet of cultivation facilities in Nevada with plans to expand that to more than 400,000 square feet. The company also has a flagship dispensary in Las Vegas and […]

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Michigan medical cannabis cultivator Green Peak raises $30M-plus for expansion

Green Peak Innovations, a medical cannabis cultivator based in Lansing, Michigan, raised more the $30 million in an oversubscribed debt round. The funds will be used to support Green Peak’s expansion in Michigan as well as plans to take the company’s “scalable model to other states,” CEO Jeff Radway said in a news release. Plans […]

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Cannabis data firm Headset to partner with global analytics company Nielsen

Global measurement and data analytics company Nielsen has formed an alliance with Seattle-based cannabis analytics firm Headset to provide insights about the U.S. marijuana market to consumer packaged goods (CPG) businesses. According to a news release, the two firms are joining forces as New York-based Nielsen develops “a full suite” of cannabis measurement capabilities to […]

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WV Senate approves banking fix to medical marijuana law, sends bill to governor

The West Virginia Senate has passed a bill addressing banking services for the state’s medical cannabis program, removing an obstacle that had slowed the MMJ industry’s rollout in the state. The Senate approved the bill 29-4 on Tuesday. It now goes to the governor. The bill would authorize the state to allow financial institutions, including […]

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Oklahoma medical cannabis sales surpass $7 million in February

Oklahoma’s new medical marijuana market is continuing to blossom, hitting more than $7.2 million in sales in February alone. That’s up from $4.3 million in January, after a $1 million sales month in December, the first full month of MMJ sales in the state. Oklahoma voters legalized medical marijuana just last June, and the state’s business-friendly MMJ […]

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Multistate cannabis firm 4Front buys dispensary, grow operations in AZ and MA

4Front Holdings, a U.S. cannabis retail and brand company based in Phoenix, expanded its national footprint with acquisitions in Massachusetts and Arizona. 4Front acquired Healthy Farms, which has two dispensaries and a cultivation facility in Massachusetts, and PHX Interactive, owner of Greens Goddess in Phoenix, a holder of a vertically integrated license. Financial details of the […]

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