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Week in Review: IL adult-use and NJ medical cannabis legislative moves, Harvard MMJ research & more
The Illinois Senate passes a recreational cannabis sales and taxation bill, an expansion of New Jersey's medical marijuana program advances, Harvard and Canadian MJ firm Atlas sign a medical research…
News May 31
Marijuana retailer Planet 13 reports Q1 revenue of $13.8 million
Planet 13, a Nevada-based company that runs what is said to be the largest cannabis entertainment center in the world, reported first-quarter revenue of $13.8 million, compared with $3.6 million…
News May 30
California legislator scraps bill to hike number of cannabis retail licenses
California Assemblyman Phil Ting has shelved a measure to increase the number of marijuana retail licenses in the state, having lacked the two-thirds vote he needed to pass the bill. Assembly…
News May 30
Green Thumb reports $27.9 million in quarterly marijuana revenue
Green Thumb Industries, a Chicago-based multistate cannabis company, reported revenue of $27.9 million for its first quarter, up from $10.9 million in the same period last year.
News May 30
New Jersey Senate votes to advance medical cannabis expansion bill
The New Jersey Senate voted 33-4 on Thursday to advance a bill that would boost medical marijuana sales and create new business opportunities in the state.
News May 30
Arizona law firm ordered to pay $150K for meritless marijuana suit
Arizona’s highest court has concurred that a Phoenix law firm must pay roughly $150,000 in legal fees for filing a frivolous lawsuit against the town of Snowflake and Copperstate Farms,…
News May 30
Alberta to license 115 new cannabis stores over next six months if supply keeps rising
Alberta regulators have reversed a moratorium on the issuance of new adult-use marijuana retail permits after seeing a “modest but steady” improvement in the province’s cannabis inventory over the past…
News May 30
New Jersey cannabis firms make pivot to medical as adult-use prospects fade – for now
Prospective businesses laid the groundwork in anticipation that lawmakers would legalize the recreational use of marijuana in New Jersey. They scouted locations, talked with municipal officials and worked with consultants.…
News May 30
Cannabis capital ‘rotating’ away from Canada to United States, analyst says
Marijuana businesses and investors seeking higher returns and more potential are looking beyond Canada’s relatively small and highly regulated market, according to analysts covering the still-nascent industry.
News May 30
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