Denver-based Akerna, a cannabis technology compliance provider, on Monday reported revenue of approximately $11 million for its fiscal year. The revenue figure for its fiscal year ended June 30 was 4.2% higher during the same period in 2018. Net loss for fiscal 2019 totaled $12.3 million compared with a net loss in fiscal 2018 of […]
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Why marijuana firms are paying attention as higher education expands MJ course offerings across the US
Cannabis businesses are taking careful note as professional marijuana courses and programs spring up at universities and other educational institutions across the country. Examples include – to name a few – Northern Michigan University, the College of Southern Nevada, the University of Denver and Florida Gulf Coast University, with colleges offering a huge variety of […]
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Week in Review: Vape crisis continues, federal cannabis bill moves, Utah licenses & more
State regulators from across the country react to the vaping crisis, a federal marijuana banking bill sees movement, Utah ups its medical cannabis licensing opportunities – and more of the week’s top marijuana business news. States’ responses to vaping crisis State regulators nationwide have begun responding in earnest to the vaping illness epidemic, which now stands […]
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Linton back in cannabis business as chair, investor and adviser
Ousted Canopy Growth co-CEO Bruce Linton is getting back into the marijuana business in a big way, resurfacing as a senior executive, investor and adviser in three separate companies in the U.S. and Canada. Linton is joining Michigan-based Gage Cannabis Co. as executive chair, parent company Wolverine Partners said Tuesday. Gage said in a news […]
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Cresco Labs, Origin House near closing cannabis deal
Cresco Labs, the Chicago-based multistate marijuana operator, said its acquisition of Canada’s Origin House, a major MJ distributor in California, is significantly closer to completion following further compliance with antitrust requirements. The two companies are now set to compete the transaction by Nov. 15 at the latest. Cresco agreed to acquire Origin House, based in […]
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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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Medicine Man Technologies buying Colorado marijuana firm for $31 million
Denver-based Medicine Man Technologies continues its recent acquisition tear, announcing on Wednesday it is paying $31 million in stock and cash for Strawberry Fields, a cannabis operator based in Colorado Springs, Colorado. Strawberry Fields, which has worked with Medicine Man Technologies for many years, owns four recreational dispensaries in Colorado – two in Pueblo – […]
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Aurora Cannabis sells remaining stake in Green Organic Dutchman
Aurora Cannabis, one of Canada’s largest marijuana companies, sold its remaining stake in Toronto-based The Green Organic Dutchman for 86.5 million Canadian dollars ($64.9 million). The sale, which gave Aurora an approximate return of 50% on its initial investment, involved 28.8 million shares, or about 10.5% of The Green Organic Dutchman (TGOD). Though Aurora no […]
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Medicine Man Technologies’ acquisition of CO marijuana firm its ninth this year
A buying spree by Denver-based Medicine Man Technologies continues, with a deal announced Wednesday to buy Colorado Harvest Co. and its three cannabis storefronts for $12.5 million. Medicine Man Technologies said it is paying $4 million in cash and 2.8 million shares of common stock valued at $2.95 per share, equal to $8.5 million in […]
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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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Multistate marijuana company Curaleaf posts higher revenues, losses
Curaleaf Holdings, a multistate cannabis operator, reported revenue of $48.5 million in the second quarter, more than triple the $14.6 million in revenue during the same period of 2018. The Massachusetts-based company lost $24.4 million in the quarter, ending June 30, mostly due to noncash items and one-time, acquisition-related charges. That’s compared with a loss […]
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Origin House cannabis revenues rise, but losses mount
Marijuana company Origin House posted revenue of 21.4 million Canadian dollars ($16 million) in the second quarter, a sixfold increase over the CA$3.5 million ($2.6 million) it reported for the same period a year ago. But the Ottawa-based company’s losses totaled CA$34.9 million ($26.2 million) for the quarter ending June 30, compared with a profit […]
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