Illinois Medical Cannabis Business & Marijuana Legal News


Illinois adult-use marijuana stores sell $110 million in first three months

Adult-use cannabis stores in Illinois sold almost $110 million in products in the first quarter of 2020, state regulators say. In March, stores sold 812,203 marijuana products for a total of $35.9 million, according to the Illinois Department of Financial and Professional Regulations. Recreational retailers in Illinois sold $27.1 million, or 75.5% of total sales, […]

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Big cannabis companies scale back amid coronavirus, raising questions about industry’s overall health

The COVID-19 outbreak is causing serious jitters among large cannabis companies, with a growing list of multistate marijuana operators scaling back by laying off workers and shuttering operations in a bid to slash costs. The widespread cutbacks this week by Acreage Holdings, MedMen Enterprises and 4Front Ventures also call into question the overall health of the marijuana industry […]

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Cannabis giant 4Front cuts workforce, appoints new CEO

Multistate marijuana operator 4Front Ventures on Monday said it has slashed its corporate workforce by almost 40% and cut the number of employees at its recreational and medical cannabis stores by almost 45%. The company did not release the number of employees who lost their jobs. The cuts, which took place over the past four […]

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Illinois extends adult-use cannabis licensing process

The application deadline for a number of Illinois’ recreational cannabis business permits has been extended by a month during the coronavirus crisis. According to the Chicago Sun-Times, Democratic Gov. J.B. Pritzker signed an executive order extending the license application deadline from March 30 to April 30 for: 40 cannabis infusers that manufacture edibles and other products. 40 […]

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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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Coronavirus impact felt in cannabis industry M&A as Harvest Health-Verano deal scuttled

The once-booming market for cannabis mergers and acquisitions is now feeling fallout from the COVID-19 pandemic, on top of all the other problems that have brought M&A activity to a virtual halt in the industry. Harvest Health & Recreation’s planned acquisition of privately held Verano Holdings was called off Thursday, with the companies citing “prolonged obstacles” […]

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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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More states say medical cannabis shops can stay open amid COVID-19

Massachusetts, Michigan and Ohio joined several other states in declaring that medical marijuana dispensaries can remain open in light of stay-at-home orders designed to help combat the coronavirus outbreak. Here is a look at what is happening in each state:  Massachusetts: Medical marijuana dispensaries in the state will be allowed to stay open from Tuesday through […]

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