(This story is part of MJBizDaily’s premium subscription service, Investor Intelligence.) Warrants can align stakeholder incentives with shareholder interests, but they complicate the share count at different valuations and can cloud what you really own. There are two essential steps to valuing equity: Value the underlying business. Divide that by the stakeholders – first the debt […]
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Utah lawmakers consider ditching state-run medical cannabis system
Utah legislators are drafting a proposal to scrap a planned state-run medical marijuana dispensary system and instead increase the number of private facilities, which could boost business opportunities and sales. Lawmakers are considering the change after facing pressure from county attorneys who said the system put public employees at risk of being prosecuted under federal drug […]
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Marijuana firm KushCo secures $50 million credit line
California-based KushCo Holdings, a cannabis company specializing in ancillary products such as packaging, closed on a $50 million credit facility that will be used for working capital and potential acquisitions. The transaction consists of a $35 million revolving line of credit that can be increased by $15 million subject to certain terms, according to the […]
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FBI scrutiny of corruption in US cannabis industry welcomed by some, scorned by others
The FBI’s announcement that it is probing public corruption in the legal marijuana industry has stirred up strong reactions among cannabis insiders. While some complain the FBI’s scrutiny is another example of how the legal MJ industry is being unfairly targeted as if it’s a bottomless gold mine, others welcome the feds’ attention to illicit […]
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Investor Intelligence to host exclusive webcast on Q2 cannabis investing trends
In a special webcast from MJBizDaily’s Investor Intelligence, Viridian Capital Advisors executives Scott Greiper and Harrison Phillips will review Q2 investing trends and the outlook for the marijuana industry for the next 12-18 months. This special live webcast on Aug. 28 at 4:15 p.m. ET/1:15 p.m. PT is exclusively for Investor Intelligence subscribers. Learn more here.
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Cresco Labs reports increased marijuana revenue, net quarter loss
Cresco Labs, a multistate cannabis company based in Chicago, on Wednesday reported revenue of $29.9 million for the second quarter, up 253% from the same period a year ago. Net loss for the quarter, ending June 30, was $3.9 million, compared with net income of $1.6 million for the prior-year period. Cresco trades on the Canadian […]
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CA high court medical cannabis ruling unlikely to cause major disruption to industry, key attorney says
At first blush, it may seem as if the California Supreme Court’s ruling on a medical marijuana case would prove a big deal for the state’s cannabis industry. But that’s not really the case, according to one California cannabis attorney who’s also an expert in state environmental law, on which the ruling is centered. In […]
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Weedmaps will stop advertising unlicensed cannabis retailers ‘later this year’
Online advertising giant Weedmaps said Wednesday it will begin requiring a state license number for all marijuana retail listings on its site, indicating it will cease carrying ads for unlicensed cannabis shops and delivery services. The move could prove an enormous boon to legal retailers that have been struggling to compete with illegal shops simply […]
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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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Michigan offers application help to adult-use marijuana businesses
Michigan regulators are hosting a series of educational sessions in September for potential recreational cannabis business applicants, with online applications starting Nov. 1. The five sessions are designed to demonstrate the online business license application process. Under Michigan’s adult-use marijuana law, local jurisdictions decide whether to permit or ban commercial rec MJ activity. There is […]
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Impact of California high court medical cannabis ruling unclear for state’s businesses
San Diego failed to adequately analyze the potential environmental impacts of its medical marijuana dispensary law, the California Supreme Court ruled in a decision that might limit the discretion of local governments across the state when approving cannabis stores. The ruling came after San Diego declared its 2014 cannabis law didn’t require any environmental analysis. […]
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What the marijuana industry thinks of California governor’s performance since taking office
California Gov. Gavin Newsom swept into office in 2018 just two years after he was the most high-profile politician to champion adult-use cannabis legalization in the state. With that history of support for the legal marijuana industry, many in the sector had hoped that soon after Newsom was elected he’d quickly take up some tough […]
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