Lack of standards, dubious business practices threaten to upend cannabis testing industry
A lack of standards in cannabis testing results is plaguing the industry. Some business owners are shopping around for labs that will give them the results they want to see, while others are sending in adulterated samples. And testing labs are being shuttered by state regulators for allegedly reporting results that don’t match up with audits.
Cannabis workers in Pennsylvania ratify UFCW union contract
Employees at Pennsylvania cannabis company CannTech voted to ratify a union contract with the United Food and Commercial Workers International Union (UFCW) Local 1776.
TerrAscend borrows $120M to make payments on marijuana acquisition
U.S. and Canadian marijuana operator TerrAscend borrowed $120 million from a syndicate of lenders to help finance earnout payments related to its acquisition of Ilera Healthcare in Pennsylvania.
Ayr borrows $75 million to fund marijuana acquisitions, finish facilities
Multistate marijuana operator Ayr Strategies announced a $75 million secured loan intended to fund acquisitions and complete facilities in Arizona, Ohio and Pennsylvania.