Arizona Medical Cannabis Business & Marijuana Legal News

Week in Review: Vape crisis continues, federal cannabis bill moves, Utah licenses & more

State regulators from across the country react to the vaping crisis, a federal marijuana banking bill sees movement, Utah ups its medical cannabis licensing opportunities – and more of the week’s top marijuana business news. States’ responses to vaping crisis State regulators nationwide have begun responding in earnest to the vaping illness epidemic, which now stands […]

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Phoenix authorities bust cannabis vape operation

Law enforcement authorities found about 1,100 packaged vape cartridges in a raid of a suspected marijuana and THC vape cartridge operation in north Phoenix. The raid comes as hundreds of illnesses and seven deaths across the country are being linked to e-cigarettes and marijuana vaping devices, in both the legal and illegal markets. The vape cartridges […]

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Cresco Labs acquires marijuana company Tryke for $282.5 million

Chicago-based Cresco Labs said it is buying Tryke, a vertically integrated private cannabis company active in Nevada and Arizona, for $282.5 million. Here are the basics around the announcement: The $282.5 million price tag is made up of $55 million in cash and the balance in stock. Tryke posted revenue of $70.4 million in fiscal […]

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Arizona group modifying recreational marijuana legalization measure

A group pushing to legalize adult-use cannabis in Arizona plans to refile its proposed voter initiative with some changes later this month in response to a legislative committee review. It doesn’t appear the changes will be substantial, according to the Arizona Republic, but they are being made partly to ensure the ballot measure addresses potential […]

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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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