Nevada Medical Cannabis Business & Marijuana Legal News

Cannabis company Terra Tech sued for alleged theft, deceptive finances

A businesswoman in Reno, Nevada, is suing Terra Tech, accusing the California-based, vertically integrated marijuana company and various defendants connected to the firm of alleged theft, stock manipulation and filing false reports with government agencies, a local TV station reported. According to the lawsuit filed by Heidi Loeb Hegerich in Washoe County District Court, Terra Tech “has a long […]

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Week in Review: NV cannabis licensing gripes, Connecticut permits more MMJ dispensaries & Q3 earnings roundup

Nevada issues 61 additional provisional recreational marijuana retail permits, Connecticut doubles the number of medical cannabis dispensary licenses in the state, and some publicly traded MJ firms release third-quarter results. Here’s a closer look at some notable developments in the marijuana industry this week. Nevada licensing controversy Nevada issued 61 provisional adult-use retail licenses, which […]

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Nevada high court dismisses liquor firms’ adult-use marijuana distribution suit

The Nevada Supreme Court dismissed a lawsuit that would have required the state to license only alcohol wholesalers as distributors of recreational marijuana. The decision doesn’t have an immediate effect, but “when we decide to open up more (distributor) applications, it will allow us to select from a broader range of applicants,” said Stephanie Klapstein, […]

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Green Thumb Industries buys Nevada cannabis business in $290 million deal

Green Thumb Industries (GTI), a multistate marijuana company, has agreed to purchase a Nevada-based, vertically integrated cannabis company in a stock and cash deal valued at about $290 million. The deal expands Chicago-based GTI’s footprint in Nevada, home to one of the fastest-growing, adult-use MJ markets in the nation. The acquisition includes: Three retail stores in […]

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Chart: Declines in wholesale prices hammer major recreational cannabis markets

Wholesale cannabis prices in recreational markets across the United States have fallen precipitously compared to last year, while prices in major medical markets are proving more resilient. According to figures provided by Cannabis Benchmarks, a Connecticut-based provider of wholesale marijuana pricing data, wholesale cannabis prices in Oregon and Washington state are down more than 50% […]

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Upstart Ohio medical cannabis firm raises CA$85 million to expand footprint

A young cannabis company headquartered in Columbus, Ohio, raised 85 million Canadian dollars ($65 million) that it will use to expand its operations. Green Growth Brands – whose CEO, Peter Horvath, resigned a year ago from his executive post with Pittsburgh retail giant American Eagle Outfitters – closed the round in Toronto, where the company was […]

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Canadian marijuana cultivator Flower One buys Nevada MJ firm for $27 million

Canadian marijuana cultivator Flower One Holdings agreed to purchase a Nevada cannabis cultivation business for $27 million, expanding the Toronto-based company’s footprint in the Silver State’s rapidly growing MJ industry. With the purchase of 100% of Las Vegas-based NLV Organics, Flower One (Canadian Securities Exchange: FONE) gains a 25,000-square-foot cultivation and production facility in North Las Vegas, […]

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Build it and they will come? Cannabis entrepreneurs wager big bucks on social consumption venues

Applicants for marijuana social consumption licenses across the United States are betting that consumers will want to patronize a public venue where they can consume cannabis with other users.

Entrepreneurs who pursue this new niche sector are likely to wager hundreds of thousands of dollars to get their businesses off the ground, according to industry executives.

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MJardin buying Nevada cannabis cultivation facility for $22 million

MJardin has agreed to buy a licensed cannabis cultivation facility in Las Vegas for roughly $22 million in cash and stock, allowing the Denver company to extend its geographic footprint into the Nevada marijuana market. MJardin – which operates cultivation, processing and retail facilities in North America and has an office in Toronto – said […]

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Nevada marijuana business faces flurry of financial fraud suits

CWNevada, one of Nevada’s largest cannabis companies, has been sued for alleged fraud, failure to repay millions of dollars to its lenders and misusing intellectual property. “While local and national media outlets report on the unprecedented success of Nevada’s regulated marijuana market, CWNevada management has managed to run the business into the ground,’’ claimed a […]

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