Leafly, the online marijuana strain and dispensary guide, on Tuesday announced it had laid off 54 employees, or 18% of its workforce, becoming the latest MJ-related business to shed employees. The layoffs cut across all departments, a spokeswoman for the Seattle-based company said. Leafly made the layoffs to “more closely align our business operations with […]
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Cannabis-focused mutual fund, ETF to close
The Evolve Funds Group, a Canadian fund manager with more than 630 million Canadian dollars ($478 million) under management, on Tuesday said it will shutter a small, poorly performing cannabis mutual fund and an even smaller exchange-traded fund (ETF) that also invests solely in marijuana companies. Evolve attributed the closing to the “volatile” nature of the marijuana […]
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Cannabis trade group’s report targets illicit market in response to vaping health crisis
The marijuana industry’s largest trade association released a report Tuesday on the vaping health scare that calls on cannabis business owners, regulators and law enforcement to do more to combat the illegal market. The National Cannabis Industry Association (NCIA) report targets several areas for improvement in order for licensed cannabis companies to succeed against illegal operators, which many experts […]
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Massachusetts urges revamp of scrutinized municipal marijuana pacts
Accords between Massachusetts municipalities and marijuana businesses, known as host community agreements (HCA), would be solely reviewed and regulated by the state’s Cannabis Control Commission under a redrafted bill.
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Chart: More consumers boost Colorado’s recreational marijuana market in 2019
Sales of adult-use cannabis in Colorado eclipsed $1.4 billion in 2019, a record for the state that likely was propelled by new customers entering the market. Recreational marijuana sales were up 16% in 2019, marking the first time that sales growth accelerated from year to year in any adult-use cannabis market, not just Colorado’s. Sales […]
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California finds illegal cannabis vapes tainted with additives
Marijuana vape cartridges seized in unlicensed stores in Los Angeles contained potentially dangerous additives, including a thickening agent blamed for a national outbreak of deadly lung illnesses tied to vaping, California officials said Monday. Officials also found that the illegal vapes confiscated in the December raids typically were not as potent as advertised and sometimes contained […]
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TerrAscend ends $33.5M acquisition of Nevada marijuana properties
Canadian cannabis company TerrAscend is terminating its proposed $33.5 million purchase of Gravitas Nevada.
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Temporary uptick in Washington state wholesale cannabis flower prices on shuttered businesses, unused canopy
Washington state’s wholesale cannabis flower market is experiencing rising prices, but marijuana business owners don’t expect that upward trend to last.
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How cannabis growers can brace themselves for a product recall
If you’re in the business of cultivating marijuana, it’s more than likely a product recall is in your future.
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Week in Review: US House members reach out to Senate on marijuana banking, Cresco gets $200M in debt financing, Denver MJ store burglaries & more
Sponsors of the cannabis banking bill that passed the U.S. House appeal to the chair of a key U.S. Senate panel, lenders provide Cresco Labs $200 million in debt financing, police urge Denver marijuana store owners to take added security measures – and more of the week’s top MJ business news. Marijuana banking reform The four […]
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Tribes in two states considering cannabis opportunities
An American Indian tribe in Oklahoma is exploring ways to become involved in the marijuana industry, while a South Dakota tribe will vote on whether to legalize medical and adult-use cannabis its reservation. The Cherokee Nation in Tahlequah, Oklahoma, is seeking recommendations from a seven-member committee by May 31 on marijuana and hemp opportunities for the […]
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Missouri licenses 192 medical marijuana dispensaries
It took only two days for Missouri regulators to award all 192 medical cannabis store licenses in the state. Voters approved a constitutional amendment in 2018 that requires the state’s Department of Health and Senior Services (DHSS) to license at least 192 dispensaries, 24 in each of Missouri’s eight congressional districts, according to St. Louis Public […]
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