Cannabis MSO Verano Holdings secures $12 million loan
Cannabis multistate operator Verano Holdings Corp. closed a $12 million “cross-collateralized” senior mortgage from Rainbow Realty Group and MJ Real Estate Investment Trust in which the company put up cultivation and processing properties. The...
Struggling marijuana MSO Schwazze defaults on restructured debt
Struggling Colorado-based marijuana multistate operator Schwazze defaulted on a restructured loan after it missed a $700,000 payment due March 3. As a result, the bankruptcy consultant that Schwazze enlisted last summer to refinance its debt due later this year...
What’s causing the decline in M&A activity in the cannabis industry?
Mergers and acquisitions in the cannabis industry in 2024 totaled $1.169 billion, a decrease of $579 million – or 33% – from the $1.749 billion of industry M&A the previous year, according to Viridian Capital Advisors. What’s behind the decline? There...
Oklahoma loses nearly 40% of licensed medical marijuana operators in 12 months
A reckoning is under way in the Oklahoma medical marijuana market. Over a 12-month period through July 2024, the number of commercial MMJ businesses in the state decreased by nearly 40%, according to a fiscal year 2024 annual report recently published by the Oklahoma...
Cannabis operator Entourage gets shareholders’ approval to go private
Shareholders of Canadian cannabis company Entourage Health Corp. have approved the company’s plan to go private. Under the proposal, parties related to the LIUNA Pension Fund of Central and Eastern Canada – 1001095275 Ontario and guarantor 243753 Ontario –...
Connecticut marijuana regulator apologizes for ‘retaliation’ inspection
The day after the president of a Connecticut marijuana cultivator told lawmakers that testing-lab standards need improvement, officials from the state Department of Consumer Protection showed up at his business for a surprise inspection. The compliance check was...
Edible Arrangements’ parent company enters hemp-derived THC market
Edible Arrangements’ parent company is getting into the cannabis edibles business. Georgia-based Edible Brands is launching edibles.com, an e-commerce marketplace that will offer hemp-derived THC products from brands such as Cann, Wana Brands and 1906....
Marijuana MSO Planet 13 recovers $2.1M more from former bank alternative
Las Vegas-based marijuana multistate operator Planet 13 Holdings says it recovered another $2.1 million in cash plus real estate as part of a dispute with a former banking partner it claims “embezzled money from” its accounts. Planet 13 said in a news release that it...
Poseidon invests $1 million in another New Jersey cannabis retailer
Poseidon Investment Management, a San Francisco-based cannabis hedge fund operator, has invested in another New Jersey retailer, its third financing deal in that market since mid-December. Poseidon Managing Director Patrick Rea confirmed to MJBizDaily the firm...
State bans, restrictions threaten hemp-derived THC market after Farm Bill boom
The freewheeling days for hemp-derived THC in America appear to be dwindling. After a seven-year boom for hemp-derived THC products, lawmakers are pursuing blanket bans or disruptively strict regulations on intoxicating hemp products in about a dozen states, a...
New York launches $5M grant program for cannabis social equity retailers
New York has established a $5 million grant program to support startup costs for adult-use cannabis social equity retail licensees in the state. The grants, implemented by the Office of Cannabis Management (OCM) and Empire State Development, will fund $10,000 to...Featured
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