Illinois Medical Cannabis Business & Marijuana Legal News

Cresco Labs secures up to $200M in debt for marijuana operations

Cresco Labs, a multistate cannabis operator based in Chicago, said it has secured up to $200 million in debt funding from a syndicate of lenders. The money is earmarked to: Expand operations in Illinois, where it’s based. Finance pending acquisitions Fund other growth initiatives. The company expects to draw down up to an initial $100 […]

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First cannabis consumption site in Illinois gets nod

Illinois’ capital city approved the first social consumption marijuana establishment in the state. Illinois Supply and Provisions plans to connect the consumption space to its recreational and medical marijuana store in downtown Springfield, the Chicago Tribune reported. The company, which got the OK from the Springfield City Council on Monday, is still working out details of […]

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Illinois adult-use cannabis stores might face more shortages

Recreational marijuana sales in Illinois could be hurt by a surge in medical cannabis applications with the Jan. 1 launch of adult-use sales. More than 2,570 people applied for medical marijuana cards Jan. 1-17, nearly a 34% jump from Dec. 1-17, the Chicago Tribune reported. Regulators earlier in January warned marijuana retailers they are required to […]

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Illinois social equity cannabis applicants laud licensing help from consultants, technology

Many marijuana industry watchers tout the social equity program in Illinois as one of the most far-reaching and likely to succeed in the U.S. cannabis sector. However, experts also note that for all the Illinois program’s positive intent, it is still a sometimes prohibitively expensive and burdensome undertaking for any social equity applicant. With associated expenses […]

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Week in Review: US lawmakers call for more marijuana research, some Cresco Lab employees in IL unionize, Trulieve addresses short sellers & more

U.S. lawmakers and experts tell a congressional panel that the federal government needs more cannabis research, some marijuana employees in Illinois vote to unionize, Trulieve refutes a short-seller report – and more of the week’s top MJ business news.   What’s the role of expanded marijuana research in federal reform? With strong bipartisan support, lawmakers […]

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Marijuana tech firm Fyllo buys Denver’s CannaRegs for $10 million

Chicago-based Fyllo, a digital marketing firm that focuses on the cannabis industry, on Friday said it has agreed to pay $10 million to acquire Denver-based CannaRegs. CannaRegs provides a web-subscription service and technology platform that offers access to state and municipal cannabis rules and regulations. In February, the company said it secured a $2 million […]

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Cresco Lab cannabis growers in Illinois plan to join union

Employees at an Illinois marijuana cultivation facility owned by Chicago-based multistate operator Cresco Labs are the first cannabis workers in the state to unionize. Laborers at Cresco’s facility in Joliet voted 58-32 to be represented by the United Food and Commercial Workers Local 881. The vote affects about 100 of the 130 workers at the facility. […]

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Illinois probes marijuana retailers for sourcing violations

Illinois regulators are investigating apparent violations of a regulation intended to prevent marijuana stores from sourcing marijuana from a single cultivator. The Illinois Department of Financial and Professional Regulation also reminded retailers that they are required by law to keep enough product on hand for medical marijuana customers. Just over a week after the state’s […]

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Week in Review: IL adult-use marijuana stores face shortages, Michigan early recreational MJ sales near $6.5M, Harvest pivots on deals & more

After the Jan. 1 launch, some Illinois adult-use cannabis retailers have cut off customers temporarily to conserve inventory, recreational marijuana sales in Michigan hit almost $6.5 million in first month, Harvest Health & Recreation looks to terminate an acquisition – and more of the week’s top MJ business news. Huge rec sales in Illinois lead to some shop closures The […]

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Illinois opens applications for additional marijuana license classes

Illinois regulators have opened the application process for cannabis entrepreneurs seeking craft grower, transporter and infuser licenses, paving the way for additional business opportunities in the state’s newly launched recreational market. In a news release, the Illinois Department of Agriculture (IDOA) said it will begin accepting completed applications on Friday, Feb. 14. The deadline is 5 […]

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Some Illinois adult-use marijuana shops close due to product shortages, high demand that totaled $11M in sales in first week

Illinois cannabis shops have had approximately a week to sell recreational marijuana since the state began allowing it Jan. 1, and demand has proven so extreme that – despite enjoying about $11 million in early sales – some retailers have cut off adult-use customers temporarily in order to conserve inventory. “The demand in Illinois is every […]

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Illinois’ recreational marijuana sales near $11 million

Adult-use cannabis retailers in Illinois have sold almost $11 million of recreational marijuana since sales began Jan. 1. According to state Department of Financial and Professional Regulation, the 37 licensed recreational marijuana stores registered more than 271,000 transactions since the launch of Illinois’ rec industry. On the first day alone, sales nearly reached $3.2 million. Sales were […]

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