Business
Sà Wea: Pioneering African Heritage and E-Commerce Innovation in the Luxury Cannabis Industry
LOS ANGELES — In the cannabis industry, often lacking cultural diversity and unique storytelling, Sà Wea Luxury Inc. stands out as the first luxury cannabis lifestyle brand to integrate African heritage into its identity. Founded by Julia Fofanah, a first-generation Liberian American, Sà Wea redefines cannabis consumption by fusing high-end design, cultural pride, and digital ...
Bright Green Corporation Completes Restructuring, Exits Cannabis Sector
LOS ANGELES- Bright Green Corporation has finalized its restructuring plan, marking a strategic shift from the cannabis industry to the production of all U.S. Drug Enforcement Administration (DEA) scheduled controlled substances. This decision includes an agreement with the DEA to withdraw all cannabis-related renewal applications, with the possibility of reinstatement contingent upon future federal guidelines ...
Greenlane Holdings Completes $25 Million Private Placement to Strengthen Financial Position
LOS ANGELES -Greenlane Holdings, Inc, a seller of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, has successfully closed a $25 million private placement. The offering, priced at $1.19 per Common Unit, was conducted in accordance with Nasdaq regulations. Details of the Offering The private placement involved the sale of 21,008,405 Common Units, each ...
Minnesota Opens Application Window for Cannabis Business Licenses
LOS ANGELES- The Minnesota Office of Cannabis Management (OCM) has commenced accepting applications for various cannabis business licenses as of February 18, 2025. This marks a significant step toward establishing the state's legal cannabis market. The application period will remain open until March 14, 2025. License Types and Application Process Prospective applicants can apply for ...
What You Need to Know About Risk Management and Insurance in Cannabis
LOS ANGELES—Every CFO needs to know that the cannabis industry is fraught with unique risks that require specialized risk management strategies and comprehensive insurance coverage. As companies navigate this complex landscape, understanding these risks and securing adequate protection is essential to safeguarding operations and ensuring long-term viability. Unique Risks in the Cannabis Industry Regulatory Risks ...
New Lawsuit Accuses CCELL of Price-Fixing & Monopoly Tactics
LOS ANGELES — February 14, 2025 A class action lawsuit has been filed against Smoore, the parent company of CCELL, and its U.S. distributors, accusing them of engaging in illegal price-fixing and monopolistic practices that have driven up costs in the cannabis vape hardware market. The suit, initiated by Arizona-based Earth’s Healing, Inc., claims violations ...
Understanding Price Compression and Market Trends in Cannabis
LOS ANGELES—Every CFO needs to know that price compression is a pressing challenge in the cannabis industry, driven by increased competition, oversupply, and constantly shifting consumer demands and preferences. As prices decline, it becomes increasingly difficult to maintain profitability. To combat this phenomenon, CFOs must take strategic actions that include effective cost management, brand differentiation, ...
What You Need to Know: Mergers, Acquisitions, and Consolidation
LOS ANGELES—Every CFO needs to know that navigating mergers, acquisitions, and consolidation in cannabis and psychedelics industries requires a deep understanding of business valuation complexities and strategic deal-making. Effective M&A strategies are crucial to driving growth, expanding market share, increasing operational efficiency, ultimately contributing to the continued evolution of the industry. Valuation Complexities Valuing cannabis ...
TILT Holdings Divests Massachusetts Dispensaries for $2 Million
LOS ANGELES- TILT Holdings Inc., a cannabis business solutions provider, has entered into an agreement to divest two of its Massachusetts dispensaries to In Good Health, a private single-state cannabis operator, for $2 million in cash. Under the terms of the agreement, TILT will transfer ownership of its Taunton dispensary to In Good Health and ...
The Future of Cannabis Under Trump’s 2025 Administration: A Tough Road Ahead?
WASHINGTON, D.C.–As the new Trump administration takes shape in 2025, the future of cannabis policy in the United States remains uncertain. While President Trump has occasionally expressed support for a state's rights approach to cannabis legalization, his administration's key appointments and recent actions suggest a much more conservative stance. Key Appointments and Their Stance on ...
Missouri Expunges More than 140,000 Cannabis Cases
ST LOUIS- Missouri courts have expunged more than 140,000 cannabis-related cases since voters approved a constitutional amendment in 2022 to legalize recreational cannabis. However, the total number of expungements is unlikely to grow significantly beyond this point. As part of the amendment, courts were mandated to search their records for eligible cannabis-related charges and remove ...
Illinois Cannabis Sales Surpass $2 Billion in 2024
LOS ANGELES- In 2024, Illinois' legal cannabis market achieved sales exceeding $2 billion, marking a 2.5% increase from the previous year. This total comprises approximately $1.722 billion in adult-use cannabis sales and over $285 million in medical cannabis sales. The state collected more than $490 million in sales taxes from these transactions. A record-setting 56,318,082 ...
California Cannabis Industry Faces Potential Crisis Amid Proposed Tax Increase
LOS ANGELES- The legal cannabis industry in California is confronting significant financial challenges as a proposed increase in the state excise tax looms. Currently set at 15%, the tax is scheduled to rise to 19% on July 1, 2025, unless state lawmakers intervene. Industry stakeholders express concern that this tax hike could exacerbate existing financial ...
Aurora Cannabis Reports Record Revenue Driven by International Medical Sales
LOS ANGELES- Aurora Cannabis Inc. has announced a significant increase in revenue for its fiscal third quarter, primarily due to substantial growth in international medical cannabis sales. The company's total net revenue reached C$88.2 million, marking a 37% rise from the same period last year. Medical cannabis revenue accounted for C$68.1 million of this total, ...
New York’s Cannabis Regulatory Body Introduces Banking Directory
LOS ANGELES- The New York Office of Cannabis Management (OCM) has launched a Cannabis Banking Directory to assist licensed cannabis businesses in identifying financial institutions willing to provide banking services. This initiative aims to mitigate challenges faced by cannabis operators in securing compliant financial services. The directory lists ten financial institutions, including seven banks and ...
Cannabis Brands Leverage for Marketing Amid Advertising Restrictions
LOS ANGELES- The Super Bowl presents a significant opportunity for cannabis businesses to enhance brand and product awareness, despite existing advertising limitations. While traditional advertising channels during the Super Bowl remain inaccessible to cannabis companies due to federal regulations and network policies, many brands have adopted alternative strategies to capitalize on the event's massive viewership. ...
Enveric Biosciences Executes Reverse Stock Split and Announces Patent Milestone
LOS ANGELES- Enveric Biosciences, Inc. recently implemented a 1-for-15 reverse stock split, effective January 29, 2025, to comply with Nasdaq's minimum bid price requirement. Following the split, the company conducted a public offering, raising $5 million through the issuance of 1.67 million shares priced at $3 each, accompanied by Series A and B warrants. This ...
Frontier Risk Group Secures $3 Million in Seed+ Funding
LOS ANGELES- Frontier Risk Group, a company specializing in insurance solutions for the cannabis industry, has announced the successful completion of a $3 million Seed+ funding round. This round was led by Casa Verde, a venture capital firm focused on the cannabis sector, with significant participation from existing investors. The funding will support Frontier Risk ...
What You Need to Know About Mergers, Acquisitions, and Consolidation
LOS ANGELES—Every CFO needs to know that navigating mergers, acquisitions, and consolidation in cannabis and psychedelics industries requires a deep understanding of business valuation complexities and strategic deal-making. Effective M&A strategies are crucial to driving growth, expanding market share, increasing operational efficiency, ultimately contributing to the continued evolution of the industry. Valuation Complexities Valuing cannabis ...
A Celebration of Cannabis Culture and Commerce: Hall of Flowers Returns to Ventura
LOS ANGELES-Hall of Flowers, one of America’s premier cannabis trade shows, founded in 2018, is poised to make a grand return to the Ventura County Fairgrounds on March 19-20, 2025. This event has become a cornerstone for cannabis businesses and consumers alike, offering a unique platform that bridges the gap between industry professionals and the ...
What You Need to Know About Capital Investment Strategies
LOS ANGELES—Every CFO needs to know that strategic capital investment in the cannabis and psychedelic industries requires a nuanced approach that balances innovation, risk management, and potential. As the market continues to transform and unfold, understanding where and how to allocate capital can spell the difference between merely surviving and truly thriving in a highly ...
Florida’s Cannabis Market Sees Shift as Smaller Operators Capture Market Share
LOS ANGELES- In Florida's evolving medical cannabis landscape, smaller operators are making significant inroads, challenging the dominance of established multi-state operators (MSOs). Despite the state's stringent vertical integration requirements—which mandate that Medical Marijuana Treatment Centers (MMTCs) oversee cultivation, processing, and dispensing—these emerging players are finding ways to thrive. As of January 2025, Florida's medical cannabis ...
New York’s Cannabis Tax Revenue Surges Amid Market Expansion
LOS ANGELES- New York State is experiencing a significant increase in tax revenue from legal cannabis sales. For the fiscal year ending March 31, 2025, the state anticipates collecting $161.8 million, a fourfold increase from the previous year. Projections for the following fiscal year estimate revenues of $248 million, with expectations to reach $374 million ...
Regulatory Challenges for Hemp Beverages in the USA
LOS ANGELES - The hemp beverage industry in the United States is growing rapidly, driven by consumer demand for wellness-focused and sustainable alternatives to traditional drinks. According to Fortune Business Insights, the U.S. cannabis beverage market is projected to reach $81.44 billion by 2032, supported by the legalization of cannabis products in several states. Despite ...
The Rise of Cannabis Beverages: Trends and Market Insights for 2025
LOS ANGELES - Cannabis beverages are gaining traction in the health and wellness industry as a new way to deliver cannabinoid benefits. As 2025 approaches, this market is projected to grow significantly, evolving consumer preferences and advancements in formulation technologies, coupled with global cannabis legalization. This analysis delves into the key factors fueling the rise ...
