acreage holdings

Medical marijuana manufacturer license up for grabs in Iowa

Iowa medical cannabis regulators are opening up a license for a second cultivator/processor to replace multistate operator Acreage Holdings, which dropped out of the market earlier this year. The license could be critical for the 2-year-old program, which is struggling to be economically viable, partly because of high product prices. But it’s unclear how many […]

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Marijuana MSO Acreage wins motion to block Maine city from favoring residents

Marijuana multistate operator Acreage Holdings continues to prevail in its legal efforts to thwart Maine and, now, its largest city from favoring homegrown businesses in the state’s impending adult-use market. A federal judge ruled Friday that Portland can’t enforce scoring criteria that give licensing preference to locally owned marijuana businesses, Law360 reported. U.S. District Judge […]

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Massachusetts cannabis businesses fined for pesticide, ownership infractions

Three marijuana cultivation companies in Massachusetts will pay hundreds of thousands of dollars in fines for pesticide use and other violations. The state’s Cannabis Control Commission approved penalties against Garden Remedies, Healthy Pharms and The Botanist, MassLive.com reported. Each company agreed to settlements, complied with the commission’s inquiries and admitted to the wrongdoing. The fines […]

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Acreage completes New Jersey medical cannabis acquisition

Multistate marijuana operator Acreage Holdings said it has closed on a deal to acquire a New Jersey medical cannabis operation for $10 million, plus the assumption of debt. The acquisition, announced last year, gives Acreage a firm foothold in a marijuana market positioned for potential adult-use legalization. New Jersey residents will vote on an adult-use […]

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Cannabis companies Canopy, Acreage ink major changes in acquisition deal, with price tag slashed

Canadian cannabis producer Canopy Growth reached an agreement to significantly amend its conditional deal to acquire cash-strapped, U.S. multistate operator Acreage Holdings. The original deal was valued at approximately $3.4 billion, making it the priciest M&A transaction in the cannabis industry at the time. All told, the new deal, announced Thursday, could value Acreage’s equity […]

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Acreage subsidiary challenges Maine city’s marijuana residency rule

Maine’s largest medical marijuana company is suing the city of Portland in federal court, claiming that an adult-use licensing preference for residents violates the commerce clause of the U.S. Constitution. Wellness Connection of Maine, a vertically integrated operation with four MMJ dispensaries in the state, filed a similar legal challenge against the state. The state […]

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Marijuana MSO execs pinpoint state markets they’re least bullish on – and those they’re eyeing for the future

This is the second installment of a two-part series in which top executives from multistate operators discuss the state-legal marijuana markets they like the most and the least. The first installment can be viewed here. Executives’ comments have been edited for length and clarity. (Click on the orange arrows to advance the slideshow.)

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Cannabis MSO Acreage Holdings raises $60 million as it restructures

Marijuana multistate operator Acreage Holdings, which has been slashing overhead costs and selling unprofitable assets, said Monday it has agreements in place to raise up to $60 million for working capital and other purposes. The deals, which will have a dilutive effect on existing shareholder stock, include: An agreement to periodically sell equity up to […]

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Week in Review: MA adult-use cannabis stores reopening, High Times deal unravels, Acreage ‘reset’ & more

Massachusetts recreational marijuana retail stores will be allowed to reopen May 25, but sales will be limited to curbside pickup and online or telephone orders. MJBizDaily takeaway: This ends an expensive shutdown and a sore point for rec store operators in Massachusetts, who have seen counterparts across the country generally treated as essential businesses. Gov. Charlie […]

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Cost-cutting cannabis giant Acreage to take $80 million-$100 million charge

Multistate marijuana operator Acreage Holdings on Monday said it is still reducing overhead costs – including the sale of a North Dakota medical cannabis operation and undeveloped real estate in Nantucket, Massachusetts – as it seeks to improve its financial situation. The New York-based company said in a news release that it expects to take […]

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