Illinois Medical Cannabis Business & Marijuana Legal News

Multistate cannabis firm Cresco Labs launches trading on CSE

Chicago-based Cresco Labs began trading Monday on the Canadian Securities Exchange, adding its name to the rapidly growing list of U.S.-based firms that are going public in Canada. Here’s what you need to know: Cresco Labs will trade on the CSE under the ticker symbol CL. Shares of the multistate marijuana company opened at 8 Canadian […]

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Cannabis business predictions take center stage at MJBizCon 2018

Three more states could prove likely candidates to legalize recreational cannabis in 2019. Uncle Sam may be poised to reform the nation’s marijuana laws. And annual medical marijuana sales in the United States are projected to drop for the first time in 2018 – but the decline is expected to prove short-lived. Those were just three […]

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Key cannabis legalization wins could bring in upwards of $2 billion in new sales

Marijuana scored a sweeping victory at the ballot box on Tuesday, with voters approving new markets in Michigan, Missouri and Utah that eventually could generate $2 billion in medical and recreational sales.

Across the nation, voters installed the Democrats as the new majority party in the U.S. House of Representatives, improving the odds that lawmakers will pass federal marijuana reforms that benefit MJ businesses.

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Election updates, analysis & highlights

Marijuana Business Daily reporters were on the ground across the United States on Election Day 2018, providing live coverage of the midterms and their significance to the cannabis market. Scroll down for updates our staff filed from the states voting on cannabis-related proposals, as well as potentially pivotal U.S. congressional and gubernatorial races. For analysis of […]

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Marijuana firm Cresco Labs expands in Arizona, Illinois

Just weeks after closing a $100 million capital raise, Chicago-based Cresco Labs is growing again – this time through acquisitions in Arizona and Illinois. The multistate cannabis firm announced that it has acquired Arizona Facilities Supply, which provides management services to Encanto Green Cross Dispensary. Encanto is licensed to cultivate, process and dispense medical marijuana […]

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Week in Review: Sweet Leaf owners make a deal, NJ/IL medical cannabis reform & Alaska tax revamp

Sweet Leaf’s owners strike a deal with Colorado marijuana regulators, New Jersey and Illinois take steps to bolster their medical cannabis markets, and Alaska overhauls its MJ business taxes. Here’s a closer look at some notable developments in the cannabis industry this week. Sweet Leaf hit hard The owners of the once high-flying Colorado marijuana […]

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MedMen inks blockbuster $682 million stock deal to acquire medical cannabis firm PharmaCann

MedMen Enterprises has agreed to acquire multistate medical marijuana company PharmaCann in an all-stock deal valued at $682 million, inking what is believed to be the largest acquisition to date in the U.S. cannabis industry. The deal will double the number of states where Los Angeles-based MedMen has licenses to operate – expanding the firm’s […]

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Illinois medical cannabis market rises as regulations loosen

The medical marijuana market in Illinois is growing, especially after the addition of MMJ as an opioid alternative – a development that, if sustained, could significantly boost sales for businesses in the state. State officials reported that MMJ card applications had reached 44,000 recently, news site Patch.com noted. That’s roughly 2,000 more than when Gov. Bruce […]

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MedMen inks dispensary deal to enter Illinois medical cannabis market

Los Angeles-based MedMen announced its second acquisition of the week to expand its national footprint – this time into the Illinois medical marijuana market. The multistate marijuana business agreed to acquire Seven Point, a licensed medical cannabis dispensary in the Chicago suburb of Oak Park. Terms of the deal weren’t disclosed, but it comes on the heels […]

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BioTrackTHC system issues disrupt Illinois cannabis sales

Approximately one in five medical marijuana dispensaries in Illinois had to temporarily close Thursday because of a problem with the state’s seed-to-sale tracking system, which is a software developed by BioTrackTHC.

BioTrackTHC, based in Fort Lauderdale, Florida, reported 16 of roughly 80 dispensaries in Illinois were affected.

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Earnings highlights: Hedge fund billionaire Leon Cooperman bets on cannabis; two firms deliver solid Q2 results

Share prices at cannabis firms Green Thumb Industries and Tilray are on the rise after solid second-quarter performances – and mainstream investors are taking note, with at least one hedge fund billionaire throwing his support behind the industry. The two businesses reported their first earnings as newly public companies after the markets closed Tuesday. Here’s […]

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Illinois governor signs bill to allow medical marijuana as opioid alternative

Illinois Gov. Bruce Rauner signed legislation Tuesday allowing the use of medical cannabis as an alternative to opioids – a development that could eventually generate hundreds of millions of dollars in additional MMJ sales. Marijuana Business Daily estimates the move could add tens of thousands of new patients to a program that has roughly 42,000 currently registered. […]

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