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....
Canada’s unpaid cannabis taxes soar 72% to almost CA$300 million
(This is the second installment of a two-part series about licensed Canadian cannabis producers’ unpaid excise taxes. Part 1 is available here.) A growing number of Canadian cannabis producers continue to rack up tax debt, which could lead to “a meaningful...
Troy Datcher, pioneering Black marijuana executive, dead at 55
Troy Datcher, board chair of Gold Flora Corp. and a prominent Black leader in the marijuana industry, died Feb. 26 after a brief hospitalization. He was 55. ADVERTISEMENT Originally from Alabama, Datcher leaves behind a wife and daughter. Datcher was the “first...
Curio fined $26,000 for selling cannabis retrieved from dumpster, other offenses
(This story has been updated with comment from Curio co-founder Wendy Bronfein.) Multistate operator Curio Wellness was fined $26,000 by Maryland regulators after reviewing video footage of employees at its flagship Maryland store retrieving cannabis from a dumpster...
Marijuana lender Chicago Atlantic extends credit facility maturity to 2026
The financing subsidiary of ancillary marijuana firm Chicago Atlantic Real Estate Finance is extending the maturity of its $100 million secured revolving credit facility and increasing its accordion feature to $150 million. Chicago Atlantic Lincoln extended the...
Aurora Cannabis repays remainder of convertible senior debt
Aurora Cannabis says it has repaid the remaining balance of its convertible senior notes, a landmark in the Canadian producer’s efforts to cut its debt and save on interest payments. Edmonton, Alberta-based Aurora still has 47.9 million Canadian dollars ($35.3...
Opinion: Medical marijuana companies have stronger 280E argument
The $143 million question on every marijuana executive’s mind these days – especially after Thursday’s news that Trulieve Cannabis received $113 million in tax refunds – is: Should my MJ company consider filing a tax refund claim? The best answer is:...
Cannabis firm BZAM granted creditor protection with massive unpaid tax bills
Canadian cannabis firm BZAM, which merged with The Green Organic Dutchman in 2022, has been granted creditor protection to restructure the business and pursue a sale process. The Ontario Superior Court of Justice granted the request for creditor protection for BZAM...
Ohio drops medical marijuana card fee to 1 cent, halves processor license cost
Ohio regulators have reduced the fee to obtain medical marijuana patient cards or caregiver cards to 1 cent, a move that could increase business for MMJ dispensaries in the state. The new fee kicks in March 4, Cincinnati TV station WCPO reported. ADVERTISEMENT The 1...
Michigan, Georgia raids net thousands of cannabis plants, hundreds of pounds
Recent law enforcement raids in Michigan and Georgia have resulted in the seizure of thousands of plants and hundreds of pounds of cannabis. Michigan State Police seized an alleged illegal grow in the Detroit suburb of Highland Park, confiscating more than 4,000...Featured
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