Trulieve Cannabis reports receiving $113 million in 280E tax refunds
(This story was updated at 3:07 p.m. ET.) Marijuana multistate operator Trulieve Cannabis Corp. revealed that it has received $113 million worth of tax refunds as it challenges what it owes under Section 280E of the Internal Revenue Code. Florida-based Trulieve made...
How to improve cannabis drying, curing methods: Q&A with researcher Allison Justice
Some of the most interesting cannabis cultivation research is happening in South Carolina, where neither adult-use nor medical marijuana is legal. Instead, researcher Allison Justice, who holds a Ph.D. in plant and environmental science and is the founder of the...
Marijuana MSO Green Thumb Industries reports revenue of $1.05 billion
Green Thumb Industries’ plans to be the first multistate operator to sell marijuana at convenience stores is still in the works, company officials said while reporting annual revenue of $1.05 billion. The Chicago-headquartered company remains profitable...
Virginia lawmakers OK adult-use cannabis, but will governor sign off?
Virginia lawmakers passed two identical bills Wednesday to create a framework for adult-use marijuana sales. The move comes nearly three years to the day after the same governing bodies sent legislation to legalize a recreational cannabis program to then-Gov. Ralph...
Florida’s proposed adult-use marijuana THC cap fails in Senate
A proposal to limit the amount of THC in a potential adult-use marijuana market in Florida failed in the state Legislature. A Florida Senate committee voted earlier this month to advance Senate Bill 7050, which would have imposed THC limits of 30% on flower and 60% on...
Australia’s ECS Botanics reports record first-half cannabis revenue of AU$11.3M
(The headline has been updated to correct the dollar figure.) Australia-based ECS Botanics Holdings reported profitable operations for the six months ended Dec. 31, 2023, on increased medical cannabis revenue. The company’s net profit after tax (NPAT) amounted...
Meta, Google must quit promoting illicit marijuana, New York governor says
New York’s governor is demanding that social media sites and search engines such as Meta and Google stop promoting illicit marijuana sellers. Gov. Kathy Hochul was planning a Wednesday news conference to share more about how her office planned to crack down on...
Canadian federal cannabis tax revenue outpaces beer, wine
Canada’s federal government collected more excise tax revenue from cannabis than it did from beer and wine last year. That comes as a parliamentary committee is recommending the government ease up on the cannabis tax. ADVERTISEMENT In the 2022-23 fiscal year ended...
Marijuana tech company Agrify prices public offering to raise $2.6 million
Marijuana technology company Agrify Corp. has priced a public offering to raise gross proceeds of $2.6 million. The net proceeds will be used “for working capital and general corporate purposes, which may include capital expenditures and repayment of...
White couple at center of social equity lawsuits in multiple cannabis markets
New York marijuana retailers recorded roughly $150 million in sales last year, nearly $300 million less than estimates and far shy of the promised multibillion-dollar state market. At least part of the reason for the state’s slow rollout of adult-use cannabis...
US treaties shouldn’t impact marijuana rescheduling, congresswoman says
American commitments in international treaties do not forbid the U.S. Drug Enforcement Administration from rescheduling marijuana as recommended, a California congresswoman told the agency. The DEA has yet to respond to an Aug. 29 recommendation from the Department of...Featured
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