Marijuana Sales, Funding & Banking News

Florida’s medical cannabis industry has only one truly dominant player

Florida’s medical marijuana market is often described by industry watchers as an oligopoly – dominated by a few vertically integrated operators. But it isn’t. The reality is that the roughly half-billion-dollar market is dominated by one player – Florida-based Trulieve, which is capturing nearly 50% of all sales. No other company comes close. Experts say […]

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California marijuana banking bill dies but might return in 2020

A bill to set up a state-run banking system for California cannabis companies died after months of legislative wrangling, but the measure’s sponsor already pledges to reintroduce the bill in 2020. Senate Bill 51, sponsored by Sen. Robert Hertzberg, was one of the most closely watched cannabis industry measures in the California legislature this year. […]

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Medicine Man Technologies’ acquisition of CO marijuana firm its ninth this year

A buying spree by Denver-based Medicine Man Technologies continues, with a deal announced Wednesday to buy Colorado Harvest Co. and its three cannabis storefronts for $12.5 million. Medicine Man Technologies said it is paying $4 million in cash and 2.8 million shares of common stock valued at $2.95 per share, equal to $8.5 million in […]

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Week in Review: DEA marijuana research, MMJ licensing case heads to FL high court, NV adult-use license ruling & more

The DEA indicates support for expanding cannabis research, a Florida medical marijuana licensing issue is sent to the state’s Supreme Court for potential review, a Nevada judge freezes some permits for new recreational marijuana shops – and more of the week’s top cannabis business news. DEA to up cannabis research The U.S. Drug Enforcement Administration (DEA) […]

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Vireo Health posts cannabis revenue rise, net loss for second quarter

Vireo Health, a Minneapolis-based multistate marijuana operator, on Thursday reported revenue of $7.2 million in the second quarter, up 70% from the same period a year ago. The net loss for the quarter, ending June 30, was approximately $1.9 million, compared with net income of $120,080 for the prior-year period. The company recently announced it […]

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Green Thumb reports increased cannabis revenue on net quarter loss

Green Thumb Industries (GTI), a vertically integrated, multistate marijuana company based in Chicago, on Wednesday reported revenue of $44.7 million for the second quarter, up 228% from the same period a year ago. Net loss for the quarter, ending June 30, was $22.2 million, compared with a net loss of $9.7 million in the first quarter […]

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Vireo Health moving fast as it focuses on cannabis science, consumers and shareholder value

Vireo Health, the Minneapolis-based vertically integrated cannabis company, has been very busy since it started trading on the Canadian Securities Exchange March 20. The physician-led group, which trades under the ticker VREO, has made acquisitions in four states since then, entering the Arizona, New Mexico, Massachusetts and Nevada markets. The fact that the two most […]

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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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