Marijuana REIT Innovative Industrial Properties posts $164.2M profit in 2023
Marijuana industry real estate company Innovative Industrial Properties (IIP) reported $164.2 million in net income for its common shareholders in its full 2023 fiscal year. The full-year profit was earned on $309.5 million in revenue for the fiscal year ended Dec....
Canada says cannabis wholesalers must garnish payments over unpaid taxes
(This is the first installment of a two-part series about licensed Canadian cannabis producers’ unpaid excise taxes. Part 2 is available here.) Canada’s tax collection agency is following through on a threat to garnish cash from licensed cannabis producers that...
Suit accuses marijuana producer Glass House of ‘systemic’ labor violations
Major California marijuana producer Glass House Brands imposed “systemic quota and production demands” on workers that violated labor law, including unpaid overtime and unrealistic workloads, a lawsuit filed by an ex-worker in Los Angeles County Superior Court...
Millions in fines unpaid by New York’s unlicensed cannabis retailers
The vast majority of fines levied against unlicensed cannabis retailers in New York have not been paid, underscoring the ongoing enforcement challenges in the struggling market. Despite issuing fines in excess of $25 million, the Office of Cannabis Management (OCM)...
Arizona bill targets ‘predatory tactics’ toward marijuana social equity licensees
Republican state Sen. Sonny Borrelli wants Arizona’s marijuana social equity licensees to regain control of their licenses, alleging that they were preyed upon by large operators and investors. Borrelli’s Senate Bill 1262 would give the state’s...
Canadian government hiking cannabis regulatory fees in April
The Canadian government is increasing eight regulatory fees levied on the regulated cannabis industry beginning April 1. The fee increases are in line with Canada’s official inflation rate of 4.4% over the 12 months leading to April 2023, according to details...
US marijuana business licensing declined for the first time in 2023
After years of double-digit growth, active marijuana business licenses in the United States declined for the first time in 2023. That’s according to a new report by CRB Monitor, a cannabis intelligence firm in Nashville, Tennessee, that tracks and monitors...
Virginia adult-use cannabis sales could begin in May 2025 under compromise bill
Adult-use cannabis sales in Virginia would finally begin in May 2025 under a compromise proposal that advanced in the state’s Democratic-controlled General Assembly. However, without a supermajority to overcome a “potential veto” from Republican Gov. Glenn Youngkin,...
Mississippi to rescind medical marijuana lab’s testing license
The Mississippi health department plans to revoke the medical marijuana testing license belonging to Natchez-based Rapid Analytics. The agency said its investigation, which ended Feb. 9, revealed that Rapid Analytics had engaged in “significant deviations from...
US receives first DEA-sanctioned cannabis import from Jamaica
A Canadian-Jamaican company comprised of former veterans of Steep Hill Labs and Canopy Growth Corp. has shipped what it claims is the first Drug Enforcement Administration-sanctioned export of cannabis products from Jamaica to the United States. The Toronto-based Pure...
If OH lawmakers stall, regulator to issue adult-use marijuana licenses Sept. 7
Ohio’s top cannabis regulator plans to issue adult-use marijuana business licenses on Sept. 7 at the latest if infighting in the Legislature continues to halt momentum on establishing rules, certain tax rates and other policies. Jim Canepa, director of the Ohio...Featured
1
Latest Sponsored
