Arizona Medical Cannabis Business & Marijuana Legal News

Harvest agrees to halt quest for two medical cannabis licenses in Pennsylvania

Harvest Health & Recreation, an Arizona-based multistate cannabis company, reached an agreement with Pennsylvania regulators to drop two permits for affiliated medical marijuana companies it was pursuing in the state. Harvest no longer will pursue permits for Harvest of Northwest PA and Harvest of North Central PA. The company also will not operate the two facilities […]

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Harvest Health & Recreation reports improved marijuana revenue, net quarter loss

Arizona-based Harvest Health & Recreation, a major multistate operator, reported revenue of $26.6 million for the second quarter, a 153% jump from the $10.5 million booked in the same period last year. Net loss for the second quarter, ending June 30, totaled $20.6 million compared with net income of $2.83 million for the same period […]

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Chart: Medical marijuana markets expanding at varying rates, with Oklahoma, Florida setting the pace

While medical marijuana is legally available in 36 states and Washington DC, the fragmented nature of the industry – each state creates its own set of rules – means each market grows at a different rate. The new quarterly release of the Marijuana Business Factbook presents updated profiles of each state market, highlighting the growth […]

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Arizona group files recreational cannabis legalization ballot measure

Arizona voters may get a chance to decide next year whether to legalize recreational marijuana, which could open up a host of new cannabis business opportunities if it succeeds. Legalization advocates said they’ve filed paperwork with the Arizona Secretary of State to put the question before voters in 2020. They’ll need to collect at least 237,645 […]

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Harvest Health secures $225 million loan to boost marijuana expansion

Harvest Health & Recreation, a Phoenix-based multistate cannabis operator, secured up to a $225 million loan to help accelerate growth. The loan, to be structured in three $75 million tranches, is backed by Miami-based Torian Capital Partners. Harvest said the proceeds will be used for:  Working capital.  Strategic acquisitions.  General corporate purposes. The loan will […]

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Arizona attorney general OKs digital medical cannabis payments

Arizona Attorney General Mark Brnovich approved a trial program allowing digital payments to medical marijuana dispensaries,  a move that could significantly influence the way the state’s unbanked MMJ firms transact business in the future. Brnovich noted in a news release that an Arizona startup, Alta, will allow cash-intensive businesses to make and receive digital payments without a […]

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Harvest beefs up portfolio by buying another Arizona medical marijuana dispensary

Harvest Health & Recreation, a vertically integrated cannabis company with a market cap of roughly $1.7 billion, has grown its already large footprint in Arizona with the acquisition of another medical marijuana dispensary. Harvest, based in Tempe, Arizona, purchased Leaf Life for an undisclosed amount, but the acquisition includes a stock component. Leaf Life becomes the […]

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Social media challenges continue for cannabis firms – sometimes costing thousands in lost investment

After what seemed to be a brief hiatus, social media giants are once again suspending – and outright deleting – the accounts of marijuana companies. Some industry officials say this is a result of spiteful competitors flagging posts and reporting pages to the platforms’ moderators, costing businesses thousands of dollars in lost time and labor when […]

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Arizona may be on verge of requiring medical marijuana testing

Arizona Gov. Doug Ducey has until Saturday to decide whether to sign legislation that would require medical marijuana and derivative products to be tested by an independent lab for pesticides, fungus, heavy metals and other impurities starting Nov. 1, 2020. Senate Bill 1494 also would require the state Department of Health Services to issue lab […]

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Green Growth eyes Florida medical marijuana market, nixes Arizona deal

Ohio-based medical marijuana company Green Growth Brands is moving into Florida through a $54.65 million agreement to acquire Spring Oaks Greenhouses, an MMJ company based in the state. The acquisition, expected to close in August, would allow Green Growth to operate up to 35 dispensaries in Florida’s sizable medical cannabis market. Green Growth also announced […]

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