Michigan Medical Cannabis News
Canada-based cannabis multistate operator Red White & Bloom Brands has restructured about 145 million Canadian dollars ($105 million) of issued outstanding debt as part of a larger debt-renewal program.
With adult-use marijuana prices plunging, Michigan’s largest lobbying organization for the state’s MJ industry is asking lawmakers to stop issuing new cannabis business licenses.
As the industry, consumers and other enthusiasts prep for another April 20 cannabis celebration, the date is taking on new importance nationwide for advocacy, unity and business.
A Michigan cannabis processor agreed to surrender its permit and cease operations following accusations of “widespread regulatory violations” including missing records and inaccurate product labeling.
Recreational marijuana prices in Michigan dropped nearly 30% in February compared to a year ago, according to a monthly data report from the state’s Cannabis Regulatory Agency.
The expansion of adult-use cannabis sales means a concentration of certain well-performing products for retailers and less access to full-spectrum cannabis stock-keeping units for MMJ patients.
Michigan’s governor is suggesting taxing adult-use cannabis an additional 32% to fund a $3 billion infrastructure plan.
