Layoff announcements continue to weigh on the marijuana industry, state regulators focus on vitamin E acetate additive in vaporizer products as the vape crisis continues, Michigan businesses set their game plans for a December adult-use MJ launch, and more of the week’s top cannabis news. Pink slips pile up Three well-known California cannabis companies this […]
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Cresco Labs, Origin House revamp cannabis merger as value falls more than 50% and close delayed
Cresco Labs, a Chicago-based multistate cannabis operator, and Origin House are overhauling the terms of their merger announced earlier this year, as falling cannabis stock prices and other factors slashed the value of the transaction in half to approximately $400 million. Because of the revised terms, the transaction also will now not close until approximately […]
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Week in Review: Marijuana lending activity cools, Vireo hires Linton, MA judge lifts MMJ vape ban & more
Cannabis companies confront fewer funding opportunities, Vireo Health taps Bruce Linton to help the multistate operator expand, a Massachusetts judge rules an emergency ban on vapes can’t be enforced for medical marijuana patients – and more of the week’s top cannabis business news. Marijuana investment activity slows Cannabis companies are struggling to thrive as […]
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Marijuana company Vireo Health wagers on former Canopy co-CEO Linton to expand nationally
To help expand its national footprint, multistate marijuana company Vireo Health International has hired Bruce Linton, one of the biggest names in the cannabis industry and former leader of Canada’s Canopy Growth until his surprise firing in the summer. It’s a high-profile hire for the U.S. cannabis industry, one that many executives and investors across […]
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Tight funding environment weighs on marijuana companies still seeking profit
Which came first? Poor paths to profitability for North American cannabis companies or limited funding for them to build their businesses? The reality: It’s a bit of both. Funding opportunities for marijuana firms do exist, but investors are increasingly unlikely to lend if cannabis companies cannot meet their revenue and profitability targets. Therefore, cannabis businesses trying to […]
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Shareholders sue Canadian cannabis grower Sundial
Canadian marijuana company Sundial is facing two class action lawsuits filed in the United States by shareholders over hundreds of pounds of alleged “un-sellable” cannabis. The latest suit charged that the company failed to disclose that one client, Vancouver, British Columbia-based Zenabis Global, returned more than 1,200 pounds of marijuana worth $1.9 million (2.5 million […]
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Cresco Labs growing jobs in Illinois as adult-use marijuana looms
Chicago-based Cresco Labs is more than doubling its workforce in Illinois as the multistate operator prepares for the Jan. 1 launch of recreational cannabis sales in the state. The company, expected to close its acquisition of Canada-based distributor Origin House by Nov. 15, said it is hiring more than 300 people in its home state […]
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Medicine Man Technologies looks beyond Colorado after nearly $300M buying spree
Medicine Man Technologies is undergoing a growth spurt of historic proportions, including visions for national and even international expansion that are a long way from the company’s humble beginnings. At the beginning of this year, the Denver-based company was largely a cannabis consulting company with annual revenues of less than $10 million. Now, after an […]
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Curaleaf amends Cura Partners marijuana deal; antitrust hurdle cleared
Curaleaf, a Massachusetts-based, multistate cannabis operator, is amending the terms of its pending acquisition of Cura Partners because of changing market conditions. Curaleaf, which initially announced the proposed deal in May for an estimated price of almost $1 billion, will now issue 55 million of its shares instead of the original 95.6 million shares in the […]
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CEO Berman leaves cannabis firm Harborside; board chair picked as interim
One of the most well-known and longest-operating cannabis dispensary owners in the nation, California-based Harborside, announced Monday that its CEO has stepped down and a new interim chief executive officer was appointed. Andrew Berman, who has served as CEO, president and board member since January 2018, relinquished the reins of the Oakland, California-based company, effective […]
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Hexo slashes workforce by 200 amid lower marijuana revenue expectations
Troubled Canadian cannabis company Hexo, which this week postponed the release of financial results amid lower revenue expectations, said it is cutting about 200 jobs across multiple locations and divisions. The cuts represent approximately 20% of the Quebec-based company’s workforce and include the elimination of some executive positions and the departures of Arno Groll, chief […]
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Green Growth Brands loses $64 million amid marijuana dispensary delays
Ohio-based CBD and cannabis company Green Growth Brands recorded a loss of more than $64 million for its fiscal year as it faced higher-than-expected capital expenditures and delays in building out its Nevada dispensaries. The company did not list its results from the previous year – it became a publicly traded company in January. Green Growth […]
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Setting salaries and recruiting the best North American cannabis jobs in 2020.