Business

Planet 13 Holdings, based in Las Vegas, has unveiled a substantial $48.9 million agreement to acquire the comprehensive cannabis enterprise of VidaCann, a Florida-based company. This acquisition encompasses a network of 26 medical cannabis dispensaries, marking a significant stride in the cannabis industry. The deal, composed of stock, cash, and debt components, has garnered unanimous ...

MONTGOMERY, Ala. — The road to medical cannabis access in Alabama remains blocked as a legal battle unfolds over the methods employed in selecting companies for the potentially lucrative licenses. In the heart of Montgomery County, Circuit Judge James Anderson firmly dismissed a plea from the Alabama Medical Cannabis Commission on Thursday. The request had ...

NEW YORK-- In a strategic move to diversify its portfolio, Tilray Brands, one of the world's largest cannabis companies, is broadening its reach into the alcoholic and cannabis beverage sectors. The company has recently announced acquisitions from major beverage giants Molson Coors and Anheuser-Busch. On Friday, Tilray revealed its plans to acquire the remaining 57.5% ...

LOS ANGELES-- In a significant move within the burgeoning cannabis industry, multistate operator Greenlight announced on Monday its acquisition of an operating recreational and medical dispensary in Las Vegas and an 18,000-square-foot cultivation facility in Buckhannon, West Virginia. The financial details of these acquisitions remain undisclosed. The West Virginia facility further solidifies Greenlight's presence in ...

LOS ANGELES — Organigram Holdings, a Canadian licensed producer, has entered into a supply agreement with 4C Labs, a UK-based medical cannabis cultivator and digital healthcare provider. The partnership aims to provide dried medical cannabis flower to the growing United Kingdom market. While the financial terms of the deal remain undisclosed, Organigram anticipates supplying approximately ...

NEW YORK — Mind Medicine (MindMed) Inc., a clinical-stage biopharmaceutical company focused on developing innovative solutions for brain health disorders, announced today the signing of a senior secured credit facility with K2 HealthVentures, a leading specialty finance company within the healthcare sector. This agreement, involving an initial funding of $15.0 million out of the $50.0 ...

LOS ANGELES–Amid a challenging period, WM Technology, known as the cannabis advertising powerhouse Weedmaps, has revealed an encouraging financial turnaround through its latest quarterly profit report. For the quarter ending on June 30, WM Technology reported a net income of nearly $2 million, a significant shift from the preceding quarter's $4 million net loss, as ...

BLACKSTONE, MA – Beard Bros Pharms, a legacy cannabis brand founded by self-made entrepreneurs Bill and Jeff Levers, has partnered with Ideal Craft Cannabis to bring their full-spectrum Rick Simpson Oil (RSO) to Massachusetts. This is the first time Beard Bros Pharms products will be available beyond California and the beginning of a multi-state expansion plan. Beard ...

LOS ANGELES-- Canadian cannabis producer Tilray Brands has announced an $85 million all-cash acquisition of eight beverage brands from Anheuser-Busch, including well-known breweries such as Breckenridge and Shock Top. The deal, expected to close by the end of September. The acquisition marks a significant step in Tilray's diversification strategy, positioning the Canadian cannabis producer as ...

LOS ANGELES–In a bid to address the escalating harm from the drug toxicity crisis, Canadian researchers from the University of British Columbia (UBC), found innovative strategies that harness the potential of cannabis to curb opioid cravings among individuals using unregulated opioids. This compelling study, published here in the National Library of Medicine, takes a closer ...

NEW YORK–In a significant legal development, a state Supreme Court judge has taken action against the New York state Office of Cannabis Management following a lawsuit that raises concerns about the equitable distribution of cannabis licenses. The lawsuit, which alleges that the state has disproportionately excluded disabled veterans and marginalized minority groups from cannabis licensing ...

MIAMI–A campaign advocating the legalization of cannabis in Florida, sponsored chiefly by Trulieve Cannabis Corp., a notable multistate operator, has come under the scrutiny of the state attorney general, who alleges that it disguises a larger ambition: to tighten Trulieve’s grip on the cannabis market, creating what she terms a “monopolistic stranglehold.” The initiative, known ...

LOS ANGELES-Story Cannabis Co., a prominent multistate operator, has successfully secured a substantial foothold in the Arizona cannabis market by acquiring four coveted vertically integrated licenses from Devi Holdings. These licenses, which were previously under the Nature's Medicines brand, have now transitioned into the Story Cannabis Co. portfolio, as revealed in a recent news release. ...

LOS ANGELES-- MariMed Inc., a multi-state operator in the cannabis industry, has unveiled its financial results for the second quarter ending June 30, 2023. Despite facing headwinds in the industry and consumer spending, the company's performance across several important metrics remained stable or showed growth. One significant indicator of stability is the Generally Accepted Accounting ...

LOS ANGELES-- After months of negotiations, a purchase agreement has been signed for the acquisition of a prominent indoor cannabis cultivation and processing facility from a public Canadian LP. The facility is considered one of the largest and most advanced of its kind, boasting an impressive 1.7 million square feet in total, comprising 1.4 million ...

LOS ANGELES-- Cybin Inc. a company in the psychedelics industry, revealed the pricing of its overnight marketed public offering, aimed at funding the progression of its clinical programs, including CYB003 and CYB004. The company plans to offer an aggregate of 24,264,706 Cybin units, each priced at $0.34, resulting in gross proceeds of $8,250,000. The offering ...

LOS ANGELES-- Canadian clinical-stage natural psychedelics firm Filament Health has taken a significant step forward by signing a definitive agreement with Special Purpose Acquisition Company (SPAC) Jupiter Acquisition Corp. to establish a new public company listed on NASDAQ. The deal, expected to be finalized in the fourth quarter of 2023, values Filament at $176 million ...

NEW YORK-In a significant development within the burgeoning cannabis sector, the much-anticipated $2 billion merger between cannabis producers Cresco Labs and Columbia Care Inc has been called off. Announced in March of the previous year, the deal was initially viewed as a bold wager on the potential boom in the U.S. cannabis industry. Executives from ...

NEW YORK - Housing Works Cannabis Co., the inaugural adult-use retailer to establish its presence in New York, has reported a remarkable $12 million in sales during the initial six months of operations. The nonprofit made this announcement in a press release on Monday, showcasing strong conversion rates, sales figures, and customer retention since its ...

NEW YORK — Ascend Wellness, a prominent cannabis multistate operator (MSO), is set to embark on a private placement offering to raise $7 million in capital. As part of the equity financing terms, the New York-based MSO will sell 9,859,155 shares of Class A common stock at a price of $0.71 per share to an ...

NEW YORK-In a recent move, Mastercard (MA.N) has directed financial institutions to cease processing cannabis transactions on its debit cards, delivering a significant blow to an industry that has long struggled to gain a foothold within the U.S. financial system. The cannabis sector in the United States has faced numerous hurdles, primarily due to its ...

LOS ANGELES-The cannabis industry has been a rollercoaster ride for investors and executives alike, with fluctuating stock prices and evolving regulations shaping the landscape. One significant consequence of the industry's ups and downs has been a notable impact on executive compensation. A recent article published on MJbizdaily.com sheds light on the challenges faced by cannabis ...

LOS ANGELES-- A group of hemp companies in Maryland has taken legal action against Governor Wes Moore and several state officials, contending that the regulatory framework approved for the recreational cannabis industry poses a serious threat to their businesses' viability. Filed in Washington County Circuit Court on Monday, the lawsuit was brought forth by the ...