Nevada Medical Cannabis Business & Marijuana Legal News

NV audit spurs marijuana dispensary owners to call for traceability software training

Nevada cannabis dispensary owners are calling for more training on the state’s mandatory seed-to-sale cannabis tracking software after a state-led audit of marijuana businesses found discrepancies between sales reports and tax returns. According to The Nevada Independent, the Nevada Dispensary Association pointed out the inaccurate entries and “confusion over batching and tagging during program’s rollout” […]

Read More

Marijuana company Curaleaf to buy Nevada’s Acres Cannabis for $70M

Massachusetts-based Curaleaf, a vertically integrated cannabis operator, agreed to buy Acres Cannabis for $70 million in a cash and stock deal. Acres Cannabis currently operates 269,000 square feet of cultivation facilities in Nevada with plans to expand that to more than 400,000 square feet. The company also has a flagship dispensary in Las Vegas and […]

Read More

Ascent Industries wholesaler Sweet Cannabis may lose Nevada license

Sweet Cannabis, the Las Vegas wholesaler for Vancouver, British Columbia-based Ascent Industries Corp., may face closure after allegedly violating its license in Clark County, Nevada. The threat adds to multiple problems the company is facing after the Canadian production license of subsidiary Agrima was suspended. Agrima’s license to deal in medical marijuana also was suspended, […]

Read More

Nevada’s Clark County punts on marijuana consumption lounge talks

The Clark County Commission in Nevada postponed deliberations on cannabis consumption lounges, saying it will let the state take the lead on the issue. Despite the county’s decision, Las Vegas, which is located in Clark County, plans to continue its discussions about social consumption spaces when the City Council’s recommending committee meets Feb. 19, the […]

Read More

Marijuana firm Verano sued for $135 million in Nevada related to licenses

Multistate operator Verano Holdings faces a $135 million lawsuit in Nevada for alleged fraud in excluding its Nevada partners from a recent licensing round in which the Illinois-based firm won 11 additional recreational cannabis store licenses. The suit, filed earlier this month by Naturex and BB Marketing in the state’s Eighth Judicial Court, alleges that Verano defrauded its […]

Read More

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 […]

Read More

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 […]

Read More

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, […]

Read More

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 […]

Read More

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% […]

Read More

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 […]

Read More