Growing markets lift multistate cannabis operator earnings as many MSOs turn the corner
6:30am By Jeff SmithPublicly traded multistate cannabis operators generally enjoyed robust third-quarter financial performances, bolstered by sizzling sales growth during the coronavirus pandemic and a focus on state markets that are growing.…Cannabis SPAC acquires Caliva and Left Coast Ventures, hires Jay-Z
Tue 6:38pm By Bart SchanemanNew York-based Subversive Capital Acquisition Corp., a special-purpose acquisition company, said it has acquired two California cannabis companies and hired rapper and producer Shawn "Jay-Z" Carter in a role to foster social equity in the industry.…Marijuana firm Vireo files prospectus to issue up to $200 million in securities
Tue 1:54pm By Jeff SmithMinneapolis-based Vireo Health International said it has filed a preliminary prospectus in Canada to sell as much as 260 million Canadian dollars ($200 million) in securities if and when market opportunities permit. Such a shelf offering doesn’t mean a…Supply-demand imbalance grows for Canadian cannabis edibles
Tue 12:36pm By Matt LamersMakers of edible cannabis products in Canada continue to stock more goods than they’re able to sell, the latest data from Canada’s cannabis regulator shows. In August, federal license holders, provincial distributors and retailers held almost 10 million…California judge rules against cannabis billboard ads on interstate highways
Tue 12:35pm By John SchroyerBillboards for marijuana companies are commonplace in California, but that advertising option for cannabis businesses is about to shrink based on a district court judge’s ruling. According to TV station KSBY, San Luis Obispo Superior Court Judge Ginger…Latin American cannabis exports continue to fall short of lofty expectations
Tue 12:16pm By Alfredo PascualExpectations that Latin America would become a significant exporter of cannabis for medical and scientific use have not yet materialized, with total export revenue from the continent estimated to be less than $15 million.…Maine’s recreational marijuana sales reach $1.4 million in first month
Tue 10:54am By Solomon IsraelRegulated recreational marijuana retailers in Maine sold $1.4 million worth of cannabis in the first month of adult-use legalization, which kicked off on Oct. 9. The preliminary, unaudited sales data from Maine’s Office of Marijuana Policy (OMP) covers 31…Election underscores voter shift in favor of marijuana legalization
Tue 6:30am By Andrew LongAn analysis of votes cast for marijuana ballot measures in 2020 shows that while voters remain divided over legalization based on political affiliation and geography, the overall electorate has shifted in favor of accepting both medical and adult-use cannabis.…Cannabis MSO Jushi plans $50 million expansion in Pennsylvania
Mon 1:43pm By Jeff SmithFast-growing multistate cannabis operator Jushi Holdings said it will invest $50 million to expand its Pennsylvania cultivation and processing facility to meet increasing market demand. The Florida-based MSO plans to expand the facility in Scranton from 90,000…Cannabis delivery, curbside pickup return to Ontario — but for how long?
Mon 12:30pm By Solomon IsraelPrivate-sector Ontario cannabis retailers might once again offer home delivery and curbside pickup during a monthlong pandemic lockdown in two heavily populated regions, but it remains unclear how long the government will continue allowing those services.…South Dakota’s recreational marijuana law to be challenged in court
Mon 11:54am By Kevin HuhnA lawsuit in South Dakota backed by the governor questions the constitutionality of the voter-approved amendment that legalized recreational marijuana in the state. The lawsuit was filed Friday by Pennington County Sheriff Kevin Thom and South Dakota Highway…Cannabis firm Liberty Health settles class action suit for $1.8 million
Mon 9:00am By Jeff SmithCanada-based cannabis operator Liberty Health Sciences said it agreed to settle a 2019 securities fraud class action lawsuit for $1.8 million. The settlement is “made without any admission or finding of liability and is subject to court approval,” Liberty…Appellation program, cooperatives might give small California cannabis farmers a boost
Mon 6:30am By John SchroyerSmall marijuana farmers in California who've struggled in recent years - either to launch their own brands, expand their businesses or survive the transition to the new legal market - might have a brighter future, thanks in part to various programs and…Best practices for getting the top price for extracted marijuana products
Sun 11:00am By Bart SchanemanOnce extraction is complete and finished products are made, there’s still one important step for cannabis-extraction companies to execute: Selling their manufactured goods to consumers.…Marijuana operator Harvest settles dispute over Washington state assets
Fri 6:24pm By Jeff SmithMultistate marijuana operator Harvest Health & Recreation said it has settled litigation in connection with the Washington state portion of an $85.8 million deal the company announced last March to buy the Seattle-based Have a Heart retail group. The…Longtime California cannabis czar Lori Ajax is stepping down
Fri 5:37pm By John SchroyerAfter nearly five years of overseeing the rollout of California’s statewide marijuana regulatory system, Lori Ajax is retiring. Alex Traverso, spokesman for the California Bureau of Cannabis Control, confirmed Ajax’s resignation on Friday to Marijuana…Rhode Island grappling with model for adult-use marijuana legalization
Fri 5:17pm By John SchroyerLawmakers in Rhode Island met this week to begin debate on how – not if – they will legalize adult-use recreational marijuana in 2021, but a consensus appears a long ways off. According to East Providence TV station WPRI, one of the fundamental questions…Industry reacts to California cannabis delivery lawsuit outcome: ‘It’s not a win’
Fri 1:36pm By John SchroyerAs news spread of an important ruling in a lawsuit over California's statewide cannabis delivery policy, industry executives' initial impression of a victory gave way to the reality that more legal battles are likely.…New Jersey recreational cannabis bill advances, but differences remain
Fri 12:59pm By Jeff SmithTwo key New Jersey legislative budget committees advanced a recreational cannabis implementation measure, but differences in the Assembly and Senate versions must be resolved before a full-floor vote. New Jersey lawmakers are moving rapidly since residents…C-Shop cannabis stores reopen in Newfoundland as strike ends
Fri 10:53am By Matt LamersA strike that shuttered 10 of Newfoundland and Labrador’s 27 licensed marijuana stores has come to an end. The C-Shop cannabis store locations, which are located inside Dominion grocery stores and staffed by Dominion workers, closed in August when more than…Canadian legal marijuana sales exceed CA$256 million in September
Fri 10:05am By Solomon IsraelCanadian sales of regulated cannabis reached 256.3 million Canadian dollars ($196.4 million) in September, a 1.85% increase over August sales as the pace of monthly growth slowed. Statistics Canada’s cannabis sales figures for September were led by…Report: Canadian cannabis firms received millions in pandemic subsidies
Fri 9:41am By Matt LamersCannabis businesses in Canada benefited from millions of dollars in pandemic-related subsidies from the federal government, according to research by the publication The Deep Dive and verified by Marijuana Business Daily. Other businesses tapped into…Newly legal states offer marijuana growers fresh opportunities, but some greener than others
Fri 6:30am By Bart SchanemanThe legalization ballot measures that voters approved on Nov. 3 created cannabis markets in five U.S. states - Arizona, Mississippi, Montana, New Jersey and South Dakota - and while the rules and regulations are still yet to be ironed out, some of the markets…Australia sends first commercial cannabis oil export to Germany
Thu 7:09pm By Matt LamersCannabis producer Little Green Pharma became the first Australian company to send its medical marijuana oil to Germany for sale to consumers, the Western Australia-based firm announced.…Mexican Senate approves cannabis legalization bill, ending monthslong delay
Thu 6:18pm By Alfredo PascualThe Mexican Senate on Thursday approved a comprehensive adult-use marijuana legalization bill, but the pending law still faces some hurdles before doors are fully open to business opportunities in Latin America's second-largest consumer market.…Utah marijuana business licensing process biased, audit shows
Thu 5:26pm By Bart SchanemanAn investigation into the Utah Department of Agriculture and Food, which regulates the state's medical marijuana program, turned up problems with the selection process of marijuana growers.…Another cannabis flower recall in Germany stemming from contamination
Thu 1:48pm By Alfredo PascualGröbenzell, Germany-based Ever Pharma is recalling all batches of its cannabis flower product CanPharma 20/1 after detecting contamination above acceptable levels, Marijuana Business Daily has learned.…CBD not a narcotic, EU court says, potentially opening new market
Thu 1:09pm By monicarThe European Union's top court ruled that CBD derived from the entire industrial hemp plant is not a narcotic, paving the way for new business opportunities for low-THC marijuana producers to sell outside the highly regulated pharmaceutical channels in Europe.…Court rules in favor of California’s statewide cannabis delivery policy
Thu 11:54am By John SchroyerA California judge threw out a legal challenge to a controversial policy enacted in 2018 by marijuana regulators that allows cannabis products to be delivered anywhere in the state, regardless of local bans on the industry. In a ruling issued late Wednesday,…$6 billion question: Which states are likely to legalize recreational marijuana in 2021?
Thu 6:30am By Jeff SmithRecreational marijuana legalization victories at the ballot box in Arizona and New Jersey this month have set the table for adult-use legalization in a handful of nearby states in 2021 - with more than $6 billion in business opportunities possibly up for grabs…
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