Illinois Medical Cannabis Business & Marijuana Legal News

Week in Review: New L.A. cannabis retail permit round, MMJ license race hot in MO, IL restricts electricity/water use for MJ growers & more

Los Angeles opens the next marijuana licensing round for 100 retail permits, Missouri growers and dispensary licensee applicants face fierce competition, Illinois restricts cannabis electricity and water use for MJ growers – and more of the week’s top cannabis business news. 100 MJ retail permits up for grabs in L.A. The rush is on for another […]

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Illinois restricts cannabis electricity and water use

Illinois, the latest state to legalize recreational marijuana, is tightening its laws on electricity and water usage for cannabis growers. A state law signed by Gov. Jay Pritzker places limits on the amount of water and electricity growers can use as well as setting requirements for water runoff and wastewater. The law applies to both […]

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Illinois licenses first five adult-use marijuana retailers

Illinois awarded its first licenses to businesses that can sell recreational cannabis when it becomes legal in the state next year. State regulators announced the five medical marijuana dispensaries where residents will be able to buy small amounts of recreational marijuana products starting Jan. 1. The first group of licensees are all owned by Chicago-based […]

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Green Thumb reports increased cannabis revenue on net quarter loss

Green Thumb Industries (GTI), a vertically integrated, multistate marijuana company based in Chicago, on Wednesday reported revenue of $44.7 million for the second quarter, up 228% from the same period a year ago. Net loss for the quarter, ending June 30, was $22.2 million, compared with a net loss of $9.7 million in the first quarter […]

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Green Thumb completes $60 million marijuana firm acquisition

Chicago-based Green Thumb Industries (GTI) announced Monday it completed its $59.6 million cash and stock acquisition of Fiorello Pharmaceuticals, one of 10 companies approved to operate a medical cannabis company in New York. Green Thumb purchased New York City-based Fiorello in a transaction involving $46 million in cash and 1.7 million shares. Fiorello’s assets include: […]

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Cresco Labs reports increased marijuana revenue, net quarter loss

Cresco Labs, a multistate cannabis company based in Chicago, on Wednesday reported revenue of $29.9 million for the second quarter, up 253% from the same period a year ago. Net loss for the quarter, ending June 30, was $3.9 million, compared with net income of $1.6 million for the prior-year period. Cresco trades on the Canadian […]

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Week in Review: IL ups MMJ program, more CannTrust woes, NM studies legalizing adult-use cannabis & more

Illinois adds more qualifying medical cannabis conditions, CannTrust hit with second noncompliance notice for another facility, New Mexico panel studies the potential to legalize recreational marijuana in the state – and more of the week’s top cannabis business news. Illinois boosts MMJ as it preps for adult use Illinois Gov. J.B. Pritzker took measures to […]

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Illinois expands medical marijuana market in advance of recreational launch

Illinois Gov. J.B. Pritzker signed legislation adding new qualifying conditions, including chronic pain, to the state’s medical cannabis program, which likely will boost sales in advance of next year’s recreational MJ launch. By signing the bill, the Democratic governor also makes the state’s MMJ program permanent, the Chicago Sun-Times reported. Here are key details from […]

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Chart: Medical marijuana markets expanding at varying rates, with Oklahoma, Florida setting the pace

While medical marijuana is legally available in 36 states and Washington DC, the fragmented nature of the industry – each state creates its own set of rules – means each market grows at a different rate. The new quarterly release of the Marijuana Business Factbook presents updated profiles of each state market, highlighting the growth […]

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Cresco rebranding marijuana dispensaries to Sunnyside, with wellness focus

Chicago-based Cresco Labs will rebrand its medical cannabis dispensaries under the name Sunnyside, a move designed to put personal wellness at the center of its sales pitch. The marketing move, announced Monday by the vertically integrated multistate cannabis operator, also comes in advance of the 2020 launch of a recreational marijuana market in Cresco’s home state […]

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Week in Review: CannTrust’s cannabis regulatory woes, Florida MMJ caps, push for Congress’ support of STATES Act & more

CannTrust is zapped by Health Canada for unlicensed cannabis cultivation, Florida’s medical marijuana license caps and vertical integration regulations are ruled unconstitutional, marijuana advocates urge a U.S. Congressional panel to support states-rights marijuana legislation – plus more of the week’s top marijuana business headlines. Bad week for Canadian marijuana grower Ontario company CannTrust was hit […]

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Ex-Chicago Tribune publisher joins Illinois cannabis firm

A former publisher of the Chicago Tribune joined Illinois-based cannabis company Revolution Enterprises, part of a growing parade of C-suite officers from major companies plunging into the marijuana industry. Revolution, a multistate cannabis company based in suburban Chicago, announced Wednesday it had tapped Tony Hunter, who spent 20 years with the Chicago Tribune, to help […]

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