Nevada Medical Cannabis Business & Marijuana Legal News

Nevada regulators investigate marijuana lab testing facilities

Nevada regulators launched an investigation into cannabis testing labs after tainted marijuana batches triggered two health advisories. The Las Vegas Review-Journal reported the Department of Taxation started the investigation after discovering potentially doctored THC levels by cannabis laboratories and products with high levels of yeast and mold on store shelves. Department officials say marijuana products […]

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GB Sciences sells Louisiana medical marijuana company for $32 million

Nevada-based GB Sciences, which has been under contract with Louisiana State University to cultivate medical marijuana, sold its 50% ownership stake in GB Sciences Louisiana. The stake will be purchased by Wellcana Plus, a Lafayette, Louisiana-based company which holds the other 50% of the operation, by the end of October, according to a release. The […]

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Cresco Labs acquires marijuana company Tryke for $282.5 million

Chicago-based Cresco Labs said it is buying Tryke, a vertically integrated private cannabis company active in Nevada and Arizona, for $282.5 million. Here are the basics around the announcement: The $282.5 million price tag is made up of $55 million in cash and the balance in stock. Tryke posted revenue of $70.4 million in fiscal […]

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Week in Review: Cannabis vape crisis, CA banking bill fails, public corruption in MA & more

Sales fall for recreational marijuana vaping products as a health scare hits the mainstream media, a California marijuana banking bill dies but could return in 2020, a Massachusetts mayor is deposed for allegedly ripping off MJ firms – and more of the week’s top cannabis business news. Vaping crisis The pulmonary illness epidemic related to […]

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Nevada marijuana licensing chief placed on leave amid bias claims

The head of Nevada’s cannabis licensing division is on leave from his job after allegations of favoritism and improper conduct arose during court hearings about the state’s retail marijuana application process. Taxation Department spokesman Ky Plaskon on Tuesday characterized Deputy Executive Director Jorge Pupo’s administrative leave as a personnel matter, according to the Las Vegas […]

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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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Nevada marijuana sales rise to $639 million in fiscal 2019

Cannabis sales in Nevada hit $639 million in its latest fiscal year, a 20% jump over sales of $530 million for the same period a year ago, providing the latest sign of the strength of the state’s MJ market. About 80% of the sales in the fiscal year ended June 30 are in Clark County, […]

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Week in Review: DEA marijuana research, MMJ licensing case heads to FL high court, NV adult-use license ruling & more

The DEA indicates support for expanding cannabis research, a Florida medical marijuana licensing issue is sent to the state’s Supreme Court for potential review, a Nevada judge freezes some permits for new recreational marijuana shops – and more of the week’s top cannabis business news. DEA to up cannabis research The U.S. Drug Enforcement Administration (DEA) […]

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Nevada judge gives OK for more retail cannabis stores to open

More than a dozen new dispensaries could open in Nevada’s booming retail marijuana market in the coming weeks after a judge gave the go-ahead Thursday to companies that underwent background checks and won licenses. State marijuana regulators said as many as 36 stores could open. But lawyers for the state and companies claiming the licensing […]

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Nevada judge freezes permits for new recreational marijuana shops

A Nevada judge halted the licensing process for several dozen new adult-use cannabis stores, siding with companies that lost bids to win the lucrative permits. Clark County District Court Judge Elizabeth Gonzalez issued an injunction after she heard 18 days of evidence and testimony. All sides expect the ruling will be appealed to the state […]

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Terra Tech selling Nevada cannabis dispensary

California-based Terra Tech is selling its Blüm Reno dispensary, which was the subject of a lawsuit earlier this year, for $15 million. In February, Terra Tech agreed to pay $6.3 million to settle a lawsuit that alleged the company siphoned money from the Blüm dispensary for other ventures. Terra Tech is selling the dispensary to Picksy […]

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