Cannabis producer Cronos loses $111.7 million in fourth quarter
1h By Matt LamersCanadian cannabis producer Cronos Group reported a quarterly loss of $111.7 million and an adjusted EBITDA of negative $53.1 million, according to the full-year and fourth-quarter results released Friday, well below analyst expectations. However, Cronos…Lawsuit casts spotlight on New York’s initial medical cannabis licensing, questions scoring
6:30am By Jeff SmithA new lawsuit sheds light on New York’s licensing of 10 medical cannabis operators in 2015 and 2016, raising questions about how regulators scored the applications and whether other unsuccessful applicants could raise their own legal objections. Fresh…New Jersey fills remaining slots on marijuana oversight commission
Thu 5:10pm By Jeff SmithNew Jersey Gov. Phil Murphy moved quickly to complete the five-member Cannabis Regulatory Commission, only two days after signing adult-use marijuana implementation legislation into law. State regulators now have 180 days from the bill’s enactment to develop…Indus acquires fellow California cannabis firm Lowell Herb for $39M
Thu 4:10pm By John SchroyerIndus Holdings said it has acquired another well-known California marijuana brand, Lowell Herb Co., in a cash-and-stock deal worth $39 million. The terms of the acquisition include $4.1 million in cash along with 22.6 million shares of Indus, which trades on…Acreage selling Florida marijuana arm to Red White & Bloom for $60 million
Thu 3:19pm By Jeff SmithMultistate marijuana operator Acreage Holdings said it has a definitive agreement to sell its medical cannabis operation in Florida to Red White & Bloom Brands for $60 million in cash and stock. The deal reflects a further retrenchment by New York-based…Massachusetts extends medical cannabis telehealth sign-ups
Thu 2:59pm By Solomon IsraelMassachusetts health-care providers may continue registering new medical cannabis patients via telehealth appointments instead of in-person visits, state regulators announced, citing the risk of exposure to the COVID-19 virus. The state initially allowed…Minority owned cannabis company, TheraTrue Inc., announces new CEO Victor Mancebo, $50 million in…
Thu 2:02pm By Pamela MooreFOR IMMEDIATE RELEASE February 25th, 2021 Company co-founded by Dr. Paul Judge, Tech Investor and Entrepreneur ATLANTA, GA and RICHMOND, VA – February 25, 2021 – Today, TheraTrue, Inc., a minority owned medical cannabis production company, announced the…Sales of Canadian cannabis edibles, extracts fall for first time
Thu 1:32pm By Matt LamersCanadians purchased fewer cannabis edibles and extracts last November compared to the previous month, new Health Canada data shows, ending at least 11 consecutive months of growth for the categories. In November, roughly 1.52 million packages of edibles were…Marijuana trimming machine maker sues Border Patrol for impeding parts
Thu 1:20pm By Kevin HuhnA company that produces agricultural equipment for marijuana and hemp businesses filed a lawsuit in Seattle charging the U.S. Customs and Border Protection with wrongly impeding imports from Canada of components needed by its Washington state subsidiary to…California marijuana firms face more state tax audits, millions of dollars in unpaid taxes
Thu 11:00am By John SchroyerThree years after the launch of California’s legal marijuana market, cannabis tax experts warn the industry should expect state regulators to ramp up tax enforcement, noting that several audits of MJ businesses are already underway. As a result, many…Aphria-Tilray cannabis merger talks overcame pandemic pause, rival bidder and other hurdles, proxy…
Thu 6:30am By Matt LamersOn-again, off-again merger talks between rival cannabis producers Tilray and Aphria had their genesis in October 2019 when an unidentified investment bank active in the marijuana space pitched a meeting between the company’s respective CEOs, according to a…Vicaa launches website offering range of high quality growing media for medical cannabis
Wed 4:36pm By Pamela MooreTo: Dept: Media Copy to: From: Vicaa Dept: Marketing Date: February 16, 2021 New: Vicaa.us – the website for specialized growing media for medical cannabis & hemp Sustainable growing solutions On February 11, 2021, Vicaa launched its new website.…Canadian pension fund unloads some cannabis shares, adds Aphria
Wed 2:40pm By Matt LamersA large Canadian pension manager unloaded some marijuana investments over the past couple of years while raising its holdings in licensed producers Aphria and Aurora Cannabis, according to regulatory filings with the U.S. Securities and Exchange Commission.…Missouri pushes back deadline for medical cannabis businesses to open
Wed 1:30pm By Bart SchanemanMissouri regulators have extended the deadline for the state's medical marijuana companies to open after the bulk of them failed to meet the one-year operating cutoff.…Marijuana MSO Verano raises CA$100 million, announces Arizona acquisition
Wed 12:28pm By Solomon IsraelChicago-based multistate marijuana firm Verano Holdings raised slightly more than $100 million Canadian dollars ($79.7 million) through a bought deal private placement of special warrants. Underwriters led by Beacon Securities and Canaccord Genuity agreed to…Two Missouri medical cannabis applicants win permits after court battle
Wed 9:00am By Bart SchanemanA pair of medical cannabis license applicants in Missouri will be able to do business in the state after winning a protracted court battle. The Missouri Administrative Hearing Commission awarded Heya Kirksville and Heya Excello medical cannabis cultivation…Sales of cannabis pre-rolls up nearly 50% in 2020 despite pandemic
Wed 6:30am By Bart SchanemanMarijuana pre-rolls are the second-fastest growing product category year-over-year despite conventional wisdom that the often-shared product would suffer during a global pandemic caused by a respiratory-related virus.…Canadian marijuana firm Canopy Growth files $2 billion shelf prospectus
Tue 6:30pm By Matt LamersCanadian marijuana producer Canopy Growth filed a preliminary short-form base shelf prospectus enabling the company to raise up to $2 billion (2.5 billion Canadian dollars) in one or more series or issuances of securities over a 25-month period. It is believed…Aurora says its Danish cannabis has reached German pharmacies
Tue 1:28pm By Matt LamersA subsidiary of Canada’s Aurora Cannabis says its “made in Denmark” medical cannabis products have reached some Germany pharmacies for the first time – a milestone that was years in the making. The German distribution comes before the products have…Marijuana packaging firm KushCo raises $40 million in direct stock offering
Tue 1:13pm By Jeff SmithCalifornia-based marijuana company KushCo Holdings said it expects to net about $40 million from the sale of securities in a direct offering to investors. The provider of packaging and other ancillary products to the cannabis industry said it will use the…Cannabis MSO Green Thumb Industries raises $56 million in US share sale
Tue 12:01pm By Solomon IsraelChicago-based multistate cannabis operator Green Thumb Industries raised roughly $56 million from selling shares in the United States. Green Thumb (GTI) accepted offers to purchase 1.6 million subordinate voting shares for $35.50 per share. The sale is…Genetic editing offers marijuana and hemp companies a way to improve plant strains
Tue 6:30am By Andrew LongThe development of new genetic-editing technology offers cannabis companies a cost-effective way to make specific changes to marijuana and hemp plants – such as more disease resistance – without creating a genetically modified organism (GMO). The…Virginia OKs smokable flower in move that could spur medical marijuana sales
Mon 6:58pm By Jeff SmithVirginia lawmakers overwhelmingly passed legislation that would allow smokable marijuana flower sales later this year, a reform that will dramatically boost sales in the state’s nascent medical cannabis market. Flower sales often account for roughly 50% of…Wrigley chewing gum heir to take cannabis MSO Parallel public via $1.9 billion deal
Mon 6:09pm By Omar SacirbeyChewing gum heir William “Beau” Wrigley Jr., the CEO of Atlanta-based Parallel, struck a mammoth deal with an entertainment mogul to take the cannabis multistate operator public through a transaction that values the company at $1.9 billion. Ceres…Ex-Eaze CEO pleads guilty in $100 million cannabis payment scheme
Mon 5:00pm By Jeff SmithThe former CEO of California cannabis delivery platform Eaze pleaded guilty to one count of conspiracy to commit bank fraud in connection with an alleged scheme to deceive banks into processing more than $100 million worth of credit and debit payments for…Attorney general nominee Garland signals friendlier marijuana stance
Mon 4:45pm By John SchroyerThe U.S. marijuana industry will likely have a friendlier attorney general if President Joe Biden’s pick, Merrick Garland, is confirmed as the head of the Department of Justice – based on comments the federal judge made Monday during his confirmation…New Jersey recreational marijuana implementation law signed, setting stage for $1 billion market
Mon 2:38pm By Jeff SmithNew Jersey Gov. Phil Murphy on Monday finally signed a law to implement a projected $1 billion recreational marijuana market, hours after lawmakers agreed on a “clean-up measure” that had held up the process for months. Adult-use sales could begin before…Canadian cannabis retailer Fire & Flower strikes US licensing deal
Mon 1:37pm By Solomon IsraelMajor Canadian cannabis retailer Fire & Flower Holdings is making moves into the United States, licensing its brand and technology to American Acres Managers, a private Canadian firm with marijuana retail ambitions in Arizona, California and Nevada. “The…Green Organic Dutchman weighs sale of cannabis greenhouse in Quebec
Mon 11:49am By Matt LamersThe Green Organic Dutchman is considering the sale of its mammoth cannabis greenhouse in Salaberry-de-Valleyfield, Quebec, only about two months after the Mississauga, Ontario-based licensed producer increased its stake in the property to 100%. “Multiple…A tale of two cannabis social equity programs: Los Angeles and Oakland
Mon 6:30am By John SchroyerSocial equity programs are a relatively new phenomenon in the U.S. cannabis industry, with the aim of getting more minorities and those with marijuana-related convictions involved in the legal sector. But so far, no city or state has come up with the perfect…
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Herb.co
High Times
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Marijuana Business Daily
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MJ News Network
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NORML
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