Feds seize homes in Maine in crackdown on illegal marijuana grows
The federal government seized two homes in Maine it says were used to grow illegal marijuana.
IM Cannabis announces $1.6 million private placement to repay loan
Medical marijuana company IM Cannabis Corp. is planning a non-brokered private placement offering of up to $1.6 million through the sale of about 625,000 units.
Dutch medical marijuana producer Bedrocan returning to Canada
Medical marijuana producer Bedrocan International is returning to the Canadian market through the purchase of a facility in Scarborough, Ontario.
Florida cannabis businesses shut down, halt delivery as Hurricane Milton nears
Florida cannabis businesses began shutting down this week in anticipation of Hurricane Milton, which was expected to make landfall late Wednesday on the state’s west coast.
Backers of Nebraska medical marijuana ballot initiative dispute fraud claims
Sponsors of Nebraska’s medical marijuana ballot initiatives are disputing the secretary of state’s claims questioning the validity of nearly 100,000 signatures collected for two petitions.
California cannabis brand West Coast Cure voluntarily recalls several products
West Coast Cure, one of the largest California cannabis brands engulfed in a monthslong pesticide scandal, has voluntarily recalled at least 20 products that contain impurities.
40 Tons to share MJBizCon space with other justice-impacted marijuana brands
40 Tons is sharing its space on the MJBizCon 2024 show floor with 15 other marijuana companies founded by justice-impacted individuals.
Commercial landlords soften stance on renting to cannabis businesses
Cannabis companies that once struggled to find space to conduct cultivation, manufacturing and retail operations are benefiting from a tumultuous commercial real estate market that’s prompting landlords to reconsider leasing to marijuana-related businesses.
Arkansas marijuana initiative has 91,000 verified signatures, elections chief says
A voter initiative that would significantly expand Arkansas’ medical marijuana program has attracted enough signatures to qualify for the November ballot, according to the state’s top election official.
Delaware inundated with adult-use cannabis business license applications
Delaware received more than 1,260 applications for adult-use cannabis business licenses, including 800 for 30 retail operations.
Marijuana businesses seek alternatives to debt financing in slow capital market
Cannect Wellness raised $7 million in its second equity funding round; capital raises have been slow due to the expense of debt financing.
Eaze winding down cannabis delivery operations as new owners ponder future
The former CEO of California’s largest marijuana delivery service, Eaze Technologies, said its parent company is winding down operations and new ownership will determine if the service continues.
Marijuana operator TerrAscend withdraws $26 million from senior secured loan
TerrAscend Corp., a Canadian-headquartered marijuana multistate operator with U.S. assets, said it withdrew $26 million from its $140 million loan to pay off higher-interest debt it holds in Michigan.
Basketball great Carmelo Anthony enters new arena with cannabis brand, mission
Carmelo Anthony’s 19-year NBA career included 10 All-Star nods and three Olympic gold medals. Today, he’s building a new legacy in the cannabis industry.
Ohio recreational marijuana sales near $90 million in 7 weeks
Barely seven weeks since the launch of Ohio’s recreational marijuana market, sales have reached almost $90 million.
Report details upside of New York’s adult-use cannabis market
New York regulators have issued a wide-ranging report on the state’s cannabis industry, which is finally showing signs of growth nearly two years after the launch of adult-use sales.
What legalized psilocybin might look like in New Jersey
New Jersey lawmakers are hoping to succeed with psychedelics policy reform in ways their counterparts in California and Connecticut have not – at least not so far.
Fed rate cut could be a game changer as cannabis industry debt maturity looms
Cannabis investments have been buoyed by the Federal Reserve’s interest rate cut, but benefits to marijuana operators are more nuanced.
Arkansas high court breathes life into medical marijuana ballot initiative
A ballot initiative that would significantly expand Arkansas’ medical marijuana program is still alive after the state’s Supreme Court ordered a key government official to resume counting roughly 18,000 signatures that he allegedly declined to count.
14 licenses for cannabis social clubs granted in 4 German federal states
The number of applications and licenses granted for cannabis cultivation social clubs in Germany continued to grow throughout September, but growth has slowed month-over-month.
Trulieve suit alleges deceptive advertising in adult-use marijuana opposition
Trulieve Cannabis Corp., Florida’s largest medical marijuana retail chain, has filed a defamation lawsuit against the state’s Republican Party and two TV stations for running “deceptive campaigns” aimed to mislead voters on a November ballot initiative to legalize adult-use sales.
Green Thumb cannabis workers in New Jersey seek right to exit union
Employees of cannabis multistate operator Green Thumb Industries want to vote on whether they can remove United Food and Commercial Workers (UFCW) Local 360 as their union representative.
Michigan marijuana sales boom fueled by low flower prices
Marijuana flower prices have nosedived in Michigan since the start of adult-use sales, and many attribute the dip to a glut of cultivation licenses.
Congressman introduces bill that would increase THC percentage in hemp
U.S. Sen. Rand Paul, a Kentucky Republican, has introduced a bill in Congress that would raise the THC level on hemp products and lightly regulate them nationally.
Arkansas medical cannabis campaign sues state over rejected ballot initiative
Medical cannabis advocates in Arkansas filed a lawsuit challenging the secretary of state’s decision not to certify a ballot initiative that would expand the MMJ program.
Marijuana financier Silver Spike closes on portfolio, changes name & ticker symbol
Specialty marijuana finance company Silver Spike Investment Corp. has closed on a portfolio of loans and changed its name to Chicago Atlantic BDC.
Georgia hemp community responds to hurricane, new regulations
The Georgia hemp industry was tasked with the dual challenge of navigating a hurricane and new regulations governing allowable products over the past week.
Marijuana delivery company Eaze has new owner after assets auctioned
California-based marijuana delivery company Eaze Technologies has a new owner after a public auction of corporate assets.
Arkansas medical cannabis expansion disqualified from November ballot
An amendment to expand access to medical cannabis in Arkansas will not appear on the November ballot in the state.
‘Legalize it,’ Democratic presidential candidate Harris says of marijuana
If there was any uncertainty about where she stands on U.S. marijuana prohibition, Vice President Kamala Harris cleared the air by declaring that MJ should be federally legalized.
MJBizDaily launches survey about diversity in US cannabis industry
Seeking to better understand the role of women and minorities in the U.S. cannabis industry, MJBizDaily is launching its annual diversity survey.
Judge OKs lawsuit aimed at keeping medical marijuana off Nebraska ballot
A lawsuit seeking to thwart two ballot initiatives to legalize medical marijuana in Nebraska can proceed, a District Court judge has ruled.
California governor approves consumption cafes, vetoes cannabis events bill
The day after California Gov. Gavin Newsom vetoed a bill that would have allowed small farmers to sell their cannabis products directly to consumers, he signed a separate bill to legalize marijuana cafes akin to those in the Netherlands.
Major marijuana markets still lacking controls for suspicious lab results
More than half of the country’s biggest marijuana markets do not have a reference lab, according to analysis by MJBizDaily, a glaring gap that critics say raises major questions about product labeling and safety.
SEC alleges data inflation, fines parent of cannabis ad platform Weedmaps $1.5M
The U.S. Securities and Exchange Commission has fined the parent company of cannabis advertising platform Weedmaps $1.5 million for allegedly misstating user metrics leading up to its 2021 sale and ensuing listing on the Nasdaq.
Kentucky’s first medical marijuana business license goes to a testing lab
A cannabis testing laboratory is Nicholasville, Kentucky, is the first business to receive a license under the state’s medical marijuana program, which is supposed to launch next year.
Cannabis brand West Coast Cure asks court to toss pesticide-spurred lawsuit
The parent company of West Coast Cure, one of California’s largest and most well-known marijuana brands, has filed a petition to dismiss a class action lawsuit that claims the operator skirted state regulations and sold unsafe vape products that contained banned pesticides.
Congress should clarify hemp-derived cannabinoids fall under CSA, report says
Congress ought to “state clearly” that hemp-derived THC and other intoxicating cannabinoids extracted from hemp are subject to the Controlled Substances Act (CSA), according to a new report sponsored by federal health authorities.
Pelorus seeks receivership for cannabis operator StateHouse Holdings
Pelorus Fund REIT is asking a California court to place StateHouse Holdings into receivership after the vertically integrated cannabis operator defaulted on four loans.
How likely is passage of Florida’s adult-use marijuana legalization measure?
With little over a month to go before the national election, polls show the future of Florida adult-use cannabis balanced on a knife’s edge.
Los Angeles County seeks to halt online ads for unlicensed cannabis stores
Los Angeles County officials approved a motion to push for popular online platforms such as Google and Yelp to stop listing unlicensed cannabis stores.
Marijuana legalization ‘an issue for the states,’ Democratic VP candidate says
Minnesota Gov. Tim Walz, the Democratic nominee for vice president, declined to endorse nationwide marijuana legalization in a recent interview.
Cannabis sales in Canada hit yearly high of CA$440 million in July
Canada’s cannabis retail sales grew for the fifth consecutive month in July, topping 440 million Canadian dollars ($326.7 million) to reach the highest level so far in 2024.
Marijuana MSO 4Front Ventures amends credit facility, seeks to refine fiscal plan
Marijuana multistate operator 4Front Ventures amended its credit facility and enlisted Canaccord Genuity Corp. to hone its financial strategy.
Ancillary firm aims to solve payment crunch for cannabis brands
LeafLink, a software platform to connect cannabis retailers with brands, is launching a product aimed to guarantee automated weekly payments to brands.
Lawsuit seeks to block California ban on intoxicating hemp-derived products
Six hemp companies and a major lobbying group for the industry filed a lawsuit seeking to block California’s statewide ban on intoxicating hemp-derived products.
MSOs donate another $6 million to Florida adult-use marijuana campaign
Two of the nation’s largest marijuana multistate operators, Trulieve Cannabis Corp. and Curaleaf Holdings, pumped another $6 million into Florida’s adult-use legalization campaign, the most expensive ballot effort in U.S. history.
Hemp bill introduced in Congress would ban synthetic THC nationwide
A new federal agency would be responsible for enforcing fresh regulations imposed on Farm Bill-compliant hemp products in the United States – including a ban on “artificially or synthetically derived cannabinoids of any kind” – under a bill introduced in the U.S. Senate on Wednesday.
Village Farms buys remaining interest in Dutch cannabis producer Leli Holland
Village Farms International has acquired the remaining equity in Netherlands-based cannabis producer Leli Holland B.V.
Premium marijuana brands report steady sales despite shaky economy
Despite economic uncertainty, luxury cannabis products continue to attract discerning consumers seeking premium experiences.
