New York Medical Marijuana News
A cannabis investor sued Florida regulators for allegedly approving a request by private equity firm Gotham Green Partners to have ownership positions in two vertically integrated medical marijuana licenses in the state.
New York is set to inject $200 million into the local marijuana real estate market, leasing up to 150 retail properties that will be given to social equity businesses to give them a leg up in the state’s new recreational market.
New York’s plan to create a diverse, multibillion-dollar adult-use marijuana industry is in danger of slipping from its high goals, according to critics, making it potentially the latest social equity program to experience a less-than-smooth start.
Silver Spike Investment Corp. co-led a loan worth up to $170 million to privately held California marijuana grower, manufacturer and retailer Shryne Group.
The New York Cannabis Control Board signed off on 16 more conditional adult-use marijuana cultivation licenses along with a slew of proposed industry rules.
Most of the largest U.S. marijuana multistate operators experienced revenue declines in the first quarter of 2022 versus the previous three months, reflecting seasonal factors, declining cannabis prices and inflationary pressures that could be curbing consumer spending.
New York increased the number of conditional adult-use marijuana cultivation licensees from 88 to 146 after the state’s Cannabis Control Board approved 58 new applications.
