New restrictions in adult-use cannabis markets ‘not conducive to business’
The transition from a medical marijuana market to adult-use retail presents new business opportunities, an exponentially wider customer base and, generally, a significant growth driver for licensed cannabis companies. Yet, in some of the nation’s newest recreational...
Connecticut marijuana investment recipient isn’t licensed by state
A venture capital firm owned by the state of Connecticut might see its first investment in the marijuana sector go poof. In May 2022, Connecticut Innovations, a quasi-public investment vehicle, invested $1.25 million in marijuana edibles company 1906. ADVERTISEMENT...
Minnesota needs to issue more than 375 adult-use cannabis licenses, study says
As they work to streamline the adult-use cannabis licensing approval process, Minnesota regulators indicated that the state’s developing recreational market will require more than 375 licensed stores. Under a legalization bill signed into law in May by Gov. Tim Walz,...
Adult-use marijuana legalization bids reintroduced in Virginia, West Virginia
Virginia lawmakers this week resumed their quest to legalize adult-use marijuana retail operations in their state, the largest to legalize use and possession without also launching sales. Meanwhile, elected representatives in West Virginia reintroduced a recreational...
Canadian recreational cannabis sales down 6.2% in November
Retail sales of recreational cannabis totaled 412.1 million Canadian dollars ($305.8 million) in November, a decline of 6.2% from October. The November sales figure represents a 10.1% increase in legal sales of adult-use cannabis compared to November 2022, according...
GrowerIQ buys marijuana tech firm Ample Organics from Akerna
Marijuana technology company GrowerIQ has completed its acquisition of Ample Organics, a Canadian tech platform business, in a deal the Toronto-based business says represents a major expansion in its Canadian and international footprint. GrowerIQ bought Ample from...
Cannabis MSO Trulieve appeals Alabama’s license restraining order
Alabama’s yet-to-launch medical marijuana program is embroiled in yet another legal challenge, this time from Florida-based multistate operator Trulieve Cannabis Corp. Trulieve filed a notice of appeal with the state’s Court of Civil Appeals over a...
Rescheduling could change how medical practitioners do business: Q&A with marijuana health pros
Acute on Chronic is one of many cannabis ancillary businesses that stand to benefit if the U.S. Drug Enforcement Administration moves to reschedule marijuana. The Chicago-based company has two physicians and several registered nurses who assist patients nationwide...
Cannabis operator Canopy raising $35 million in upsized private placement
Canadian cannabis company Canopy Growth Corp. on Thursday said it entered into subscription agreements with institutional investors to raise $35 million. The new financing deal comes only days after the company quietly terminated a previously announced funding...
New York governor proposes eliminating marijuana product potency taxes
(This story has been updated to reflect that Curaleaf Holdings has been approved to enter the New York adult-use market.) New York’s governor is proposing the elimination of the state’s potency tax on marijuana products, a potential win for the industry. Under...
Cannabis marketer, distributor Petalfast raises $8 million from family offices
Petalfast, a California-based cannabis sales, marketing and distribution company, raised roughly $8 million from investors, including private family offices. Privately held Petalfast did not reveal the terms of the financing or the identities of the investors....Featured
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