Marijuana MSO Planet 13 prices public offering to raise $11.3 million
Marijuana multistate operator Planet 13 Holdings has priced a public offering to raise gross proceeds of at least $11.3 million. Las Vegas-based Planet 13 sell 18.75 million units at 60 cents per unit through the underwritten public offering. ADVERTISEMENT Each unit...
Amsterdam denied inclusion in Dutch cannabis experiment
The lower house of Parliament in the Netherlands rejected the addition of Amsterdam to the country’s cannabis cultivation and distribution experiment, meaning the number of cities set to take part when the pilot fully launches this summer will remain at 10. Parliament...
Herbl receivership unloads 3 assets from marijuana distributor’s historic collapse
Herbl’s meteoric fall and ensuing receivership are nearing an end. Two buyers placed winning auction bids totaling more than $1.4 million to acquire certain assets from the defunct California marijuana distributor, according to court documents and industry sources....
Kentucky bill would expand medical cannabis qualifying conditions
A Republican lawmaker in Kentucky has introduced a bill to widely expand qualifying conditions for medical cannabis patients as the state preps to launch an MMJ program next year. State Sen. Stephen West, who sponsored the 2023 bill to legalize medical marijuana in...
New York hemp companies sue to overturn new state rules
Claiming new rules governing hemp-derived cannabinoid products cost them “millions of dollars in losses,” state-licensed hemp companies in New York are suing the Office of Cannabis Management in federal court. Enforcement of revised hemp regulations...
THC potency in Oklahoma’s medical cannabis is inflated, testing lab alleges
Oklahoma medical cannabis is frequently less potent than advertised, according to the manager of licensed lab Havard Industries. Jeffery Havard and his team tested 15 samples sourced from three MMJ dispensaries in the state and found all 15 had less THC than indicated...
New Mexico’s combined marijuana sales surpass $1 billion
Combined sales of legal medical and recreational marijuana in New Mexico have set a record, surpassing $1 billion less than two years after the state launched its adult-use market. ADVERTISEMENT The latest sales data from the New Mexico Regulation & Licensing...
Corruption allegations highlight risk-reward of limited cannabis licenses
Rejected for a coveted cannabis retail license in an affluent California wine country town, a small marijuana retail chain is alleging in a lawsuit that political contributions from competing applicants “tainted” the process. Mercy Wellness’ legal claims against...
Avant Brands trims loss to CA$1.5 million on record marijuana sales, exports
British Columbia producer Avant Brands reported record net revenue of 26.3 million Canadian dollars ($19.4 million) in the fiscal year ended Nov 30, 2023 from the sale of 7,105 kilograms (15,663 pounds) of cannabis. That’s CA$6.2 million more than the CA$20.1 million...
Cannabis producer Cronos narrows 2023 loss to $74.5 million
Canadian cannabis producer Cronos Group cut its loss in half in 2023, reporting a deficit of $74.5 million (101 million Canadian dollars). Consolidated net revenue inched higher in the 2023 fiscal year ended Dec. 31, rising to $87.2 million from $86.7 million in the...
New Jersey surpasses 100 marijuana stores, projects $1 billion in sales
The New Jersey governor’s office is celebrating the opening of more than 100 marijuana stores in the state. The New Jersey Cannabis Regulatory Commission’s website lists 102 medical cannabis dispensaries and adult-use stores, according to a news release....Featured
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