Marijuana rescheduling doesn’t open door to Big Pharma takeover, report says
The Biden administration’s push to reclassify marijuana under federal law would not by itself open the door for pharmaceutical companies to seize control of the $34 billion legal U.S. cannabis industry. But moving marijuana from Schedule 1 to Schedule 3 – as has...
Wisconsin Assembly speaker rejects compromise on medical cannabis bill
Wisconsin State Assembly Speaker Robin Vos says he won’t amend a Republican bill that would create a restrictive medical cannabis regime, despite opposition from some fellow GOP lawmakers. “We have a very detailed bill that I am pretty sure has 50 votes in...
Marijuana operator Unrivaled Brands completes reorg, reverse stock split
California marijuana company Unrivaled Brands is now under the Blüm Holdings umbrella after completing a previously announced strategic reorganization and reverse stock split. The deal was designed to position the company for growth, according to a news release....
Panama awards licenses to 7 medical cannabis businesses
Seven companies in Panama were granted licenses to manufacture medical cannabis products after a lengthy evaluation by the country’s Dirección Nacional de Farmacia y Drogas, or the National Directorate of Pharmacy and Drugs. These are the first cannabis manufacturing...
Feds weighed state-regulated MMJ programs, compared marijuana to alcohol in rescheduling recommendation
State-regulated medical cannabis programs and illicit users are at least in part to thank for the Biden administration’s recommendation that marijuana be moved from Schedule 1 to Schedule 3 of the Controlled Substances Act. Federal health authorities who recommended...
Cannabis operator Canopy Growth terminates $30M private placement
A private placement of shares and warrants announced by Canopy Growth Corp. was terminated only three days after it was unveiled, the Canadian cannabis operator disclosed in a regulatory filing with the U.S. Securities and Exchange Commission. However, Canopy also...
Maryland recreational marijuana sales soar, but medical transactions stagnate
There’s not much to be crabby about in Maryland’s marijuana market. Since launching in July 2023, the recreational marijuana market in Maryland has grown month-over-month, ending 2023 at $331.8 million in sales, according to data from the Maryland Cannabis...
Canadian cannabis company Safari Flower accesses creditor protection
Canadian cannabis grower and processor Safari Flower Group is insolvent and has received an initial creditor protection order under Canada’s Companies’ Creditors Arrangement Act (CCAA). Fort Erie, Ontario-based Safari described itself in a Jan. 11 court...
Hart replaces retiring Vita as CEO at marijuana MSO The Cannabist Co.
The Cannabist Co. has promoted David Hart to CEO and Jesse Channon to president. Hart, who served as president and chief operating officer, replaces Nick Vita, who co-founded the New York-based multistate operator in 2012. ADVERTISEMENT Vita is retiring, according to...
Survey: 69% of Canadian cannabis consumers ‘always’ buy legal products
Canada’s federally regulated marijuana industry captured more illicit-market share than ever in 2023, the government’s annual Canadian Cannabis Survey suggests. Illicit-market capture is a crucial metric for legal cannabis businesses as it represents their actual...
Australian marijuana grower ECS reports record sales of AU$7.3 million in quarter
ECS Botanics Holdings, an Australian medical marijuana cultivator in Victoria, reported a significant jump in revenue to 7.3 million Australian dollars ($6.5 million) in its second fiscal quarter ending Dec. 31. The company reported revenue in the October-December...Featured
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