Adult-use cannabis sales in Illinois have exceeded $1.2 billion with one month left in the year, according to monthly sales figures released by the state’s Department of Financial and Professional Regulation.
Now that the omicron variant of COVID-19 has found its way into the United States, marijuana businesses – particularly retailers – are contemplating how the shifting pandemic situation might affect their daily operations.
As in every other business, cannabis brands are vying for consumer attention amid a sea of competition.
Chicago-based marijuana industry lender Chicago Atlantic Real Estate Finance is planning an initial public offering on the Nasdaq stock exchange.
Multistate operator Ayr Wellness announced a deal to acquire Dispensary 33, which operates two retail cannabis stores in Chicago, for at least $55 million.
Cannabis producers have long held the belief that marijuana and hemp are less water intensive than other commodity crops, making it an ideal alternative for drought-stricken or arid growing regions.
Fyllo, a cannabis compliance software company, raised another $40 million in capital to fund growth, mergers and acquisitions as well as attract executive talent.