New York governor orders exam of cannabis regulator, adult-use licensing
New York’s governor has ordered examiners to assess the state’s cannabis regulator and processes related to adult-use licensing. Gov. Kathy Hochul, who recently called the state’s rollout of its adult-use market a “disaster,” appointed Jeanette Moy, commissioner...
DEA is working ‘quickly’ on marijuana rescheduling, Vice President Harris says
(This story has been updated with background on a 2021 comment by the vice president.) The U.S. Drug Enforcement Administration is “working as quickly as possible” on potentially rescheduling marijuana, according to Vice President Kamala Harris. Harris...
Retailer High Tide acquires premium cannabis brand Queen of Bud for CA$1M
Canadian cannabis retailer High Tide has entered into a definitive agreement to acquire high-end brand Queen of Bud, including all intellectual property, trademarks and other assets. The price of the acquisition was 1 million Canadian dollars ($740,000), of which...
Washington state police implicate Chinese nationals in marijuana bust
Police in western Washington state have made arrests in an investigation into what the Tacoma Police Department described as “a major illegal marijuana grow operation by Chinese nationals.” The investigation involved search warrants served at residences...
How R&D cannabis lines help cultivators conduct market research
R&D cannabis lines – or limited-edition, small-batch flower – can create a line of communication between cultivators and consumers, enabling marijuana operators to conduct market research while still bringing in revenue. In addition to consistently...
Colorado marijuana sales top $115.4 million in January
Colorado’s total marijuana sales in January were essentially flat compared to December transactions in the state. Adult-use and medical marijuana sales in the state were $115.4 million in January, down $418,111 month-over-month, or less than 1%, according to the...
Retailer High Tide reports break-even net income, record cannabis sales
Canadian cannabis retailer High Tide reported break-even net income and positive free cash flow in its financial results for the first quarter of fiscal 2024. The Calgary, Alberta-based company said late Friday that its revenue for the November-January quarter...
Wyoming joins states that ban hemp-derived THC
Wyoming is the latest state to ban the sale of hemp-derived THC products. Gov. Mark Gordon recently signed into law Senate File 32, which mandates that “no person or licensee shall … add alter, insert or otherwise include any synthetic substance into hemp or...
TerrAscend expects $26 million tax refund, shares strategy for marijuana nemesis 280E
TerrAscend Corp. is the latest marijuana multistate operator to announce a plan to stop paying taxes owed under Section 280E of the Internal Revenue Code, and an executive hinted at the company’s legal basis for doing so. Executive Chair Jason Wild said the...
Canada’s finance minister warned about cannabis industry ‘financial distress’
Canadian Finance Minister Chrystia Freeland was warned last fall about systemic “financial distress” facing the country’s cannabis producers, including skyrocketing tax debt and widespread insolvencies. The calamities facing the industry were spelled out in...
Planet 13 recovers some ‘embezzled money’ as 2023 marijuana revenue falls
Planet 13 Holdings has recovered $3.4 million from its case against an investment firm that the marijuana multistate operator alleges “embezzled money from the company’s accounts,” co-CEO Robert Groesbeck told investors. The Nevada-based MSO announced in...Featured
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