California Medical Cannabis Business & Marijuana Legal News


California offers marijuana firms tax-related help to cope with COVID-19 fallout

California’s struggling cannabis industry, beset with high compliance costs and taxation, is in line to benefit from new state guidelines enacted to help businesses survive the global coronavirus pandemic. The assistance – a mix of extensions, relief and deferrals – is a lifeline that can allow many marijuana companies to maintain operations and meet payroll, […]

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New report analyzes US wholesale cannabis prices across the nation

In the video clip below, Bart Schaneman, cultivation and extraction reporter for Marijuana Business Daily, summarizes pre-coronavirus pandemic wholesale prices for the U.S. recreational and medical cannabis markets. To provide a more in-depth look at how wholesale prices vary from state to state – including price comparisons and supply-and-demand analysis – Schaneman compiled his reporting into a […]

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California provides another $30 million for marijuana social equity programs

California awarded an additional $30 million to 16 different cities and counties to bolster social equity programs, which are designed to get victims of the war on drugs more directly involved in the legal cannabis industry. The new grant money is on top of $10 million disbursed by the state last fall for social equity […]

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Lawsuit seeks to overturn Los Angeles’ cannabis social equity licensing process

A lawsuit filed last week aims to have the results of Los Angeles’ social equity retail licensing round last fall thrown out and the entire process redone. The suit, filed in California Superior Court in Los Angeles County, is led by the newly formed Social Equity Owners and Workers Association and actor-turned-cannabis entrepreneur Madison Theodore Shockley III. The suit […]

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California cannabis distributors sharing info on firms that pay their bills, those that don’t

A small group of licensed California marijuana distributors is trying to solve the ripple effects of unpaid bills by pooling information detailing which companies are reliable or unreliable at paying their tabs. The move comes as the coronavirus is inflicting widespread financial pain on cannabis companies, which, unlike other mainstream industries, have been largely excluded […]

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MedMen creditor seeks to seize cannabis firm’s former execs’ homes

A MedMen Enterprises creditor is claiming in a civil lawsuit that three men with ties to the California-based marijuana company – including former CEO Adam Bierman and ex-President Andrew Modlin – owe the deeds to their personal homes as part of an investment guaranty from late 2019. Alaska-based Milestone Investments filed the suit against MedMen […]

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Cannabis technology firm Greenbits raises $23 million

California-based cannabis-technology firm Greenbits, which processes $3.7 billion in sales in more than 1,200 U.S. marijuana stores each year, raised $23 million in a financing round. Greenbits, based in San Jose, said it will use the Series B funding to: Accelerate sales. Fund marketing. Develop products. Expand into new markets. The company’s technology currently is used […]

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Nevada’s Planet 13 cannabis firm ends $10 million deal to enter California

Nevada-based marijuana company Planet 13 on Monday said it is terminating its $10 million acquisition of a cannabis sales license and lease in California, which would have served as the company’s entry into that key market. The stock and cash deal for Newtonian Principles, announced last June, was terminated “due to unmet conditions in the […]

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How the coronavirus crisis is reshaping the cannabis industry for the long term

Cannabis companies are entering a new normal as the coronavirus pandemic puts stress on every sector of business, fundamentally altering the industry in possibly permanent ways. The COVID-19 outbreak has exacerbated fault lines in the rapidly evolving market and led to number of new outcomes, including: Retailers adapting to changing consumer behavior by offering delivery, curbside […]

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Massachusetts gov sued over closure of recreational cannabis stores

A handful of adult-use marijuana businesses on Wednesday sued Massachusetts’ governor, seeking a reversal of his executive order requiring recreational cannabis stores to close during the COVID-19 crisis. The lawsuit calls unconstitutional a decision by Republican Gov. Charlie Baker that adult-use marijuana stores are nonessential businesses and must remain closed until May 4. The lawsuit, filed in […]

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