Arizona Medical Cannabis Business & Marijuana Legal News


Big cannabis companies scale back amid coronavirus, raising questions about industry’s overall health

The COVID-19 outbreak is causing serious jitters among large cannabis companies, with a growing list of multistate marijuana operators scaling back by laying off workers and shuttering operations in a bid to slash costs. The widespread cutbacks this week by Acreage Holdings, MedMen Enterprises and 4Front Ventures also call into question the overall health of the marijuana industry […]

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Cannabis giant 4Front cuts workforce, appoints new CEO

Multistate marijuana operator 4Front Ventures on Monday said it has slashed its corporate workforce by almost 40% and cut the number of employees at its recreational and medical cannabis stores by almost 45%. The company did not release the number of employees who lost their jobs. The cuts, which took place over the past four […]

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Week in Review: Recreational marijuana sales tumble, cannabis stores open during pandemic, Harvest-Verano deal dead & more

COVID-19 causes cannabis sales to ebb, flow Only a few days after adult-use marijuana sales soared amid the coronavirus scare, they took a nosedive. MJBizDaily takeaway: The roller-coaster ride in marijuana sales was to be expected. Initially, consumers, panicked by the pandemic, stockpiled products. The sudden drop might mark a natural decline after consumers stocked up before […]

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Cannabis firm Harvest Health seals $25 million Franklin Labs purchase

Multistate marijuana operator Harvest Health & Recreation announced on Friday it closed on its previously announced $25.5 million purchase of Pennsylvania medical cannabis company Franklin Labs. The closing comes a day after Harvest revealed that it would no longer buy Chicago-based Verano Holdings, which was for a time was one of the biggest merger and acquisitions announced […]

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Coronavirus impact felt in cannabis industry M&A as Harvest Health-Verano deal scuttled

The once-booming market for cannabis mergers and acquisitions is now feeling fallout from the COVID-19 pandemic, on top of all the other problems that have brought M&A activity to a virtual halt in the industry. Harvest Health & Recreation’s planned acquisition of privately held Verano Holdings was called off Thursday, with the companies citing “prolonged obstacles” […]

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Harvest Health, Verano end mammoth marijuana merger

What was one of the largest acquisitions ever announced in the marijuana industry – a deal valued at $850 million when Phoenix-based multistate marijuana operator Harvest Health & Recreation said a year ago it would buy Chicago’s Verano Holdings – has been mutually terminated, the two companies said Thursday. The coronavirus and other financial and regulatory […]

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Poll: COVID-19’s cannabis legalization impact?

The nationwide coronavirus outbreak could hamper cannabis legalization efforts along the East Coast and elsewhere, raising further questions about the launch of lucrative new adult-use and medical markets in New York and other states. Coronavirus already has caused a number of state legislatures to temporarily shut down, including ones on the East Coast that were […]

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Marijuana businesses pivot quickly to meet demand for home deliveries amid coronavirus worries

Cannabis companies that provide delivery services – including delivery operators and retailers – are seeing a deluge of orders as customers stock up on marijuana products in the wake of coronavirus pandemic concerns. At the same time, these companies are putting into place unprecedented measures to ensure their delivery drivers and customers stay healthy, ranging […]

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Large cannabis operators positioned to dominate potential Arizona recreational cannabis market, shut out small businesses

Arizona’s fast-growing, roughly $750 million a year medical marijuana market was fortified by multistate operators (MSOs) that moved into the market and invigorated lackluster operations, cannabis experts say. And now an even bigger potential prize looms: A recreational cannabis market that the state’s voters could legalize in November. But some experts worry that the industry-backed recreational cannabis […]

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Harvest Health confirms $85.8 million Have A Heart marijuana deal

Harvest Health & Recreation, the Arizona-based multistate cannabis operator, confirmed its $85.8 million plans to acquire Interurban Capital Group, owners of the Seattle-based Have a Heart dispensary company. The company first announced its intention to acquire Have A Heart in January. That same month, Harvest said it was terminating its planned acquisition of Falcon International. Meanwhile, Harvest […]

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Marijuana businesses fight state efforts to limit THC content in flower, concentrates

Lawmakers in several states have sought to limit the amount of THC in cannabis – moves that, if successful, would likely result in costly business adjustments, loss of sales to illicit markets and other disruptions. Marijuana industry officials fighting back against the limitations say the proposals are based on questionable science, including a controversial study […]

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