Business

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, ...

LOS ANGELES-- Colorado-based cannabis company Terrapin Care Station has decided to abandon its plans for a production facility in the town of Auburn, New York. The decision was reportedly made due to delays in the broader market becoming operational. Terrapin Care Station is a second-tier multistate operator that has a presence in several US states, ...

JOLIET, Ill.– A 13-day Unfair Labor Practice (ULP) strike led by Teamsters Local 777 members at two Rise Cannabis dispensaries in Joliet, Ill. and one in Niles, Ill. has forced the parent company, Green Thumb Industries (GTI), to raise wages by 50 percent during the strike. The workers are now returning to their jobs and ...

LOS ANGELES-- Glass House Brands Inc a vertically-integrated cannabis company in the United States, announced on Monday that it will release its financial results for the first quarter ended March 31, 2023, on Monday, May 15, 2023, after market close. Investors and analysts are invited to participate in the conference call scheduled for 5:00 p.m. ...

LOS ANGELES-- Oregon Secretary of State Shemia Fagan announced on Monday that she has terminated her consulting deal with a cannabis company, Veriede Holdings LLC, after the arrangement was discovered during an audit of the state's cannabis industry. Fagan admitted to exercising poor judgment by contracting with the company, which is owned by her political ...

LOS ANGELES Aurora Cannabis Inc., a leading manufacturer and supplier of medical cannabis worldwide, announced today the launch of two new high tetrahydrocannabinol (THC) cannabis flower products for medical patients in Germany. The products, Pedanios 27/1 FRG CA and Pedanios 29/1 SRD CA, are the latest additions to the company's international medical cannabis portfolio, providing ...

LOS ANGELES-- Simple Solvents and Florida Chemical Supply have announced a strategic partnership that will revolutionize the supply chain for the cannabis and hemp markets in Florida. Simple Solvents, a leading supplier of high-quality solvents, will focus on producing and delivering top-notch solvents to Florida Chemical's state-of-the-art warehouses, while Florida Chemical will provide regulatory support, ...

LOS ANGELES-- Aurora Cannabis Inc, the Canadian company that is paving the way for the cannabis industry, has announced the launch of a new program that aims to support and empower cannabis patients in their wellness journey. The program, called the Strainprint® App, is an award-winning journal that allows Aurora patients to track their medical ...

LOS ANGELES-- Missouri’s decision to legalize recreational cannabis last year has led to an impressive surge in job growth in the industry, with the number of active licenses rising from 9,800 in October to over 14,000 in March, according to the St. Louis Post-Dispatch. However, concerns are beginning to emerge as labor needs appear to ...

NEW YORK–As New York State finally legalized recreational cannabis use earlier this year, many hoped it would be a turning point for the industry. But so far, the implementation of the new law has been plagued with issues, leaving many wondering if the cannabis industry in New York will ever reach its full potential. One ...

LOS ANGELES-- SC Labs, a leading cannabis and hemp testing company in the U.S., announced today its acquisition of C4 Laboratories, a Scottsdale-based lab offering advanced testing capabilities to ensure quality and accuracy. With the addition of C4 Labs, SC Labs is now licensed and accredited in five states, including Arizona, California, Colorado, Michigan, and ...

LOS ANGELES- In a significant milestone for the growing cannabis industry, analysts predict that it will add a whopping $100 billion to the US economy by 2023. This projection, which comes from the newly published MJBiz Factbook, highlights the remarkable growth trajectory of the industry despite its relatively recent legalization. The cannabis industry's economic impact ...

MICHIGAN-- Michigan's legal cannabis retail market is seeing explosive growth as it enters its fourth year of adult-use sales, with licensed dispensaries recording a record-breaking haul of $249.7 million in March. This figure marks a 46% increase in sales compared to the first quarter of 2022 and a 6% increase compared to the fourth quarter ...

LOS ANGELES-- In March, out-of-state sales for cannabis in Illinois dropped by almost 17%, signaling that neighboring Missouri's thriving recreational market is still pulling customers away. This news comes just two months after Missouri allowed adult-use cannabis sales, and the state has already sold over $229 million worth of cannabis, setting it on track to ...

SACRAMENTO-- California, often considered a pioneer in the legalization of cannabis, has faced numerous challenges in regulating the industry. One of the most pressing issues is the overtaxation of legal cannabis farms, which has led to the loss of hundreds of licenses across the state. According to a report by SFGate, the number of legal ...

NEW YORK–In the affluent SoHo neighborhood of Manhattan, a new cannabis museum called House of Cannabis (aka THC NYC) is set to open on April 7. The museum is the brainchild of Robert Frey, the CEO of the company, who has previously co-founded Pure Management Group, the creator of Pure Nightclub in Las Vegas, and ...