Cannabis producer Rubicon reports quarterly profit of nearly CA$900,000
Rubicon Organics reported a modest profit of 889,166 Canadian dollars ($656,000) in its fourth quarter ended Dec. 31, 2023, but the cannabis producer’s loss for the fiscal year amounted to CA$1.1 million. Rubicon’s net revenue for the year was CA$40.1 million, a...
Arizona sets record with nearly $1.5B in marijuana sales in 2023
Arizona cannabis retailers sold nearly $1.5 billion worth of recreational and medical marijuana in 2023, a record since the state launched adult-use sales in January 2021. State operators’ $1,490,948,873 in marijuana sales last year was an increase of 4.9% from...
New Zealand cannabis company Cannasouth reviewing financial health
New Zealand medical cannabis company Cannasouth Limited has entered voluntary administration, a process that allows for an administrator to review and rearrange the financial affairs of insolvent or near-insolvent companies. The company’s board made the decision...
Colorado marijuana growers can access more diverse genetics
Colorado’s marijuana cultivators now have freedom to procure genetics from a wider variety of sources. Senate Bill 23-271 went into effect in January, part of a larger effort to improve conditions for Colorado operators while also protecting public health and safety....
Ontario eyes CA$600 million cannabis windfall, pledges online crackdown
Ontario’s provincial government is budgeting for a record windfall of more than 600 million Canadian dollars ($442 million) in the next fiscal year from cannabis wholesale profits and its portion of the federal excise tax. The windfall comes after a federal report to...
Republican senators oppose marijuana rescheduling based on global treaties
Moving marijuana to Schedule 3 of the Controlled Substances Act, as Biden administration health officials have recommended, violates U.S. promises to other countries. That’s what three Republican U.S. senators – led by former presidential nominee Mitt Romney of...
AFC Gamma provides $34 million to Sunburn Cannabis in debt capital
Marijuana industry lender AFC Gamma provided $34 million in debt capital to Florida-based dispensary operator Sunburn Cannabis. The funds are being disbursed to Sunburn Cannabis through High End Holdings and its subsidiary Green Sentry Holdings. ADVERTISEMENT West...
Ayr Wellness boosts Florida marijuana cultivation facility mortgage by $8.4M
Marijuana multistate operator Ayr Wellness is increasing by $8.4 million the size of an existing mortgage on a cultivation facility in Gainesville, Florida. The principal on the mortgage is now $48.4 million, Ayr said in a late Tuesday news release. ADVERTISEMENT...
Canadian cannabis producer Organigram enters US, plans CA$25 million raise
Organigram Holdings has dipped into its strategic investment pool to pick up a minority stake in Roxboro, North Carolina-based Open Book Extracts as part of its plan to target emerging cannabis markets in the United States and elsewhere. Late last year, British...
Cookies cuts ties with its lone San Francisco marijuana store
Cookies, the most recognizable brand in cannabis, traces its origins to San Francisco and the pre-legalization marijuana underground in the city that’s considered by many to be the birthplace of the legal industry in America. But as of earlier this year, there is no...
USDA approves genetically modified hemp strain that’s THC- and CBD-free
The U.S. Department of Agriculture has approved a genetically modified hemp strain without THC or CBD that could help hemp farmers reduce waste. The Wisconsin Crop Innovation Center at the University of Wisconsin-Madison developed the strain, called Badger G,...Featured
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