Florida Medical Cannabis Business & Marijuana Legal News


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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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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Florida, Oklahoma classify medical marijuana stores as ‘essential’

Count Florida and Oklahoma among the states in which medical marijuana dispensaries are considered “essential” businesses that can remain open during the coronavirus pandemic. A Florida statute considers medical cannabis dispensaries in the state to be an essential service such as pharmacies, the Tampa Bay Times reported. In Oklahoma, the state’s Medical Marijuana Authority posted the following message […]

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Marijuana retailer Green Growth announces CEO’s departure

Green Growth Brands, a troubled marijuana retailer in the process of focusing solely on marijuana, said its CEO has stepped down, effective immediately. The outgoing CEO, Peter Horvath, came to the Columbus, Ohio, company after leading strategies for retail giants such as Victoria’s Secret, American Eagle Outfitters, DSW and Limited Brands. Horvath’s departure comes after […]

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Florida lawmakers nix THC cap for younger medical marijuana patients

The Florida Senate killed a provision that would have limited THC in medical cannabis to 10% for patients younger than 21, which could have been costly to businesses. A number of states recently moved to restrict THC, but so far the measures have failed. Still, the trend is worrisome as businesses would be required to […]

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Cannabis shops take preventive measures in response to coronavirus, report fewer customers yet larger purchases

Marijuana retailers are seeing customers stocking up on products as the coronavirus spreads across the United States. Stores also are implementing extra precautions to keep both customers and employees safe. Here are some of the approaches cannabis businesses are taking in response to the health crisis: Increasing social distancing and sanitation. Prioritizing medical marijuana patients. […]

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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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Green Growth Brands returns its focus to marijuana

Ohio-based Green Growth Brands is exiting the CBD market to focus exclusively on running its marijuana operations. Green Growth Brands agreed to sell an 80% stake in its chain of CBD kiosks in malls to The BRN Group of New York for an undisclosed price. Green Growth Brands CEO Peter Horvarth told analysts the company can […]

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Florida legislators seek partial THC cap in medical marijuana

Florida would cap the amount of THC in medical cannabis at 10% for patients younger than 21 under a state Senate bill amendment filed Friday, a move that could be disruptive to the state’s fast-growing MMJ industry. The measure, however, isn’t as stringent as a proposal floated by Florida House lawmakers to cap all medical cannabis […]

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Medical cannabis business opportunities could swell in several states this year

Several states could expand their medical cannabis programs this year through new laws or regulatory policies, opening the door to additional business licenses, more sales for existing cannabis operators and fresh business for ancillary companies. The business prospects in the eight states listed below might not be as glitzy as new, hundred-million-dollar-plus cannabis markets. But […]

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Maine enlists Metrc as state’s marijuana traceability provider

Maine regulators on Thursday entered a six-year contract for Florida-based Metrc to provide the state with a marijuana seed-to-sale tracking system. Metrc replaces BioTrackTHC, a subsidiary of Colorado-based Helix, after BioTrackTHC agreed to end its contract with the state because it couldn’t meet the necessary requirements. Metrc’s cloud-based software service will be used for Maine’s existing […]

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Week in Review: US House members reach out to Senate on marijuana banking, Cresco gets $200M in debt financing, Denver MJ store burglaries & more

Sponsors of the cannabis banking bill that passed the U.S. House appeal to the chair of a key U.S. Senate panel, lenders provide Cresco Labs $200 million in debt financing, police urge Denver marijuana store owners to take added security measures – and more of the week’s top MJ business news. Marijuana banking reform The four […]

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