Business

LOS ANGELES-- Reunion Neuroscience Inc. a clinical-stage biopharmaceutical company specializing in innovative therapies for underserved mental health conditions, has announced a definitive arrangement agreement with MPM BioImpact, a leading biotechnology investment firm. Under the agreement, affiliates of MPM will acquire Reunion in a transaction valued at approximately US$13.1 million, to be paid in cash. The ...

LOS ANGELES–Trulieve, a prominent cannabis company, has recently found itself embroiled in a distressing incident. In Massachusetts, a tragic workplace accident resulted in the death of one of Trulieve's employees. The company has since faced disciplinary action and is under scrutiny for potential safety violations. The incident, which occurred at a Trulieve facility in Holyoke, ...

ST PAUL, MN–Minnesota Governor Tim Walz, a Democrat, made a significant move on Tuesday by signing a bill that legalizes the recreational use of cannabis in the state. With this signature, Minnesota becomes the 23rd state in the United States to allow the adult-use of cannabis and the third Midwestern state to do so. Governor ...

LOS ANGELES-- In a strategic move to expand its presence in the cannabis edibles market, Canadian cannabis producer Canopy Growth has announced the acquisition of a 19.99% stake in edibles manufacturer Indiva. The deal also grants Canopy exclusive control over the distribution and sales of the highly sought-after Wana branded products in Canada. Wana is ...

LOS ANGELES-- Organigram Holdings Inc, a licensed producer of cannabis, announced today that it has forged a comprehensive technical and commercial relationship with Phylos Bioscience Inc., a renowned U.S. cannabis genetics company based in Portland, Oregon. This partnership aims to bolster Organigram's cultivation efforts in Canada through the utilization of patent-pending foundational technologies and genetics. ...

LOS ANGELES--A recent study published by the American Medical Association (AMA) has shed light on the positive effects of CBD and medical cannabis on various aspects of well-being. Conducted at a network of specialist medical clinics in Australia, the retrospective case series study aimed to explore the potential association between medical cannabis treatment and improvements ...

CONCORD, NH - In a recent decision, New Hampshire Senators thwarted a House-backed initiative that aimed to legalize the use and sale of cannabis for adults. With a vote of 14 to 10, the Senators opposed the progression of House Bill 639, which sought to permit adults to possess up to four ounces of the ...

SAN JOSE, California–In a concerning trend for the cannabis industry in California, tax revenue generated from the sector has declined significantly in the first quarter of 2023, raising alarms about the industry's viability and the need for urgent tax reduction measures. Despite exceeding $200 million in revenue, these figures represent a notable decrease compared to ...

NEW YORK- Canopy Growth Corporation ($CGC), a leading Canadian cannabis producer, has set its sights on the lucrative United States market. With the recent legalization and growing acceptance of cannabis across several states, the company's expansion plans seem strategically aligned. However, investors should exercise caution when considering Canopy's potential success in the United States, given ...

LOS ANGELES-–Legal Cannabis products in the United States are required to report THC potency (total THC % by dry weight) on packaging. However concerns have been raised that reported THC potency values are inaccurate. This is happening across the industry as their is no regulation of laboratory standards. Multiple studies have demonstrated that THC potency ...

NEWYORK--, NY Cannabis Insider hosted a conference in Albany, bringing together stakeholders to discuss solutions to the persistent challenges faced by the New York adult-use cannabis program. One of the main issues raised was the slow enforcement against unlicensed operators, which has hindered the growth of the legal market. Attendees pointed out the stark contrast ...

LOS ANGELES-- Canopy Growth Corporation, aNorth American cannabis and consumer packaged goods (CPG) company, announced today the filing of a revised proxy statement with the U.S. Securities and Exchange Commission (SEC). The statement outlines the company's updated strategy to expedite its entry into the rapidly growing U.S. cannabis industry through its U.S.-domiciled holding company, Canopy ...

SAN FRANCISCO--Cannabis operators Kiva Sales & Service, Lowell Farms, Nabis, Sunderstorm and other key industry players in the world’s largest legal market, today announced the formal launch of Financial Stability for California Cannabis (FSCC), a new coalition composed of industry stakeholders. Between wholesalers, consumer brands and producers, the FSCC represents dozens of operators and brands representing roughly 45% of the state’s ...

LOS ANGELES-- Glass House Brands Inc., a prominent vertically integrated cannabis company in the U.S., has reported impressive financial results for the first quarter ending March 31, 2023. The company registered a net sales growth of 108% from the same period last year, raking in $29.0 million, up from $14.0 million in Q1 2022. This ...

3 Big Hits From MJ Unpacked in New York By Gregory Frye If you didn’t make it to MJ Unpacked in New York City late last month, you missed out on a fantastic cannabis conference. Industry veterans and novices from all backgrounds convened at the Hilton in Midtown Manhattan from April 26-28th to network, exchange ...

LOS ANGELES--The Safe Banking Act, a bill that would provide a safe haven for banks and financial institutions that work with legal cannabis businesses, is under discussion in Congress. If passed, the Act would allow these businesses to access traditional banking services without fear of federal prosecution. Currently, banks are hesitant to work with the ...

LOS ANGELES--Legal cannabis products sold in the United States are required by law to report their THC potency, or the percentage of tetrahydrocannabinol by dry weight, on the packaging. However, concerns have been raised about the accuracy of these reported THC potency values. This is particularly worrisome because THC potency is a significant factor in ...

Rainbow Realty Group II, LLC has announced the closing of a senior mortgage secured by a state-of-the-art cannabis cultivation property in Santa Ana, California. The senior mortgage was issued in collaboration with Sweet Leaf Madison Capital and MJ Real Estate Investment Trust. The property owner and borrower is a seasoned California operator that owns a ...

LOS ANGELES-- Ascend Wellness Holdings, Inc., a multi-state, vertically integrated cannabis operator dedicated to improving lives through cannabis, has announced the appointment of John Hartmann as the new Chief Executive Officer, effective May 15th. As the company gears up to enter the next stage of its growth, it has also made changes to its Board ...

The global medical cannabis market has witnessed remarkable growth, with its valuation reaching USD $9,882.21 million in 2022, and is anticipated to soar to USD $53,886.43 million by 2030, registering a CAGR of 23.61%. Cannabis, a chemical plant rich in medicinal properties, is utilized as a raw material by various pharmaceutical firms for producing drugs ...

LOS ANGELES-- Cannabis operators are facing a significant hurdle in the form of federal tax provision 280E, which penalizes traffickers of Schedule I or II drugs by disallowing the deduction of "ordinary and necessary" business expenses. The provision was first introduced in 1982 in response to a case involving a drug dealer who tried to ...

LOS ANGELES-- Curaleaf Holdings, Inc., a global provider of cannabis consumer products, announced on Thursday that members of its executive management team will be participating in two investor community conferences in May 2023. On May 11, Matt Darin, the Chief Executive Officer of Curaleaf, will participate in the Cannabis Roundtable panel discussion at the Wolfe ...

LOS ANGELES-- Green Thumb Industries (GTI) has finally put an end to a 13-day-long strike by workers at two of its Illinois facilities, Rise Cannabis shops in Joliet and Niles. The International Brotherhood of Teamsters announced on Tuesday that the workers had won a 50% wage increase. However, a GTI spokesperson disputed this claim in ...

TALLAHASSEE--Florida lawmakers have passed a revised bill, SB 1676, that introduces child safety regulations and curbs attractive marketing of hemp products to individuals under 21 years. The bill mandates penalties for “mislabeling” or designing packaging that appeals to children. It also establishes tests for hemp edibles but does not regulate non-ingestible synthetics like shampoos, creams, ...