Business

LOS ANGELES-- StateHouse Holdings Inc. announced a 42% increase in revenues to $24.7 million for the first quarter ending March 31, 2023. Retail revenues also experienced substantial growth, rising 58% to $14.4 million compared to the first quarter of the previous year. However, the company saw a slight decline in revenues compared to the previous ...

MIAMI - Ayr Wellness, a multistate cannabis company, has successfully negotiated agreements to defer principal and amortization payments on debt obligations totaling approximately $69 million by two years. These deferrals were achieved through amendments to vendor notes and promissory notes related to a series of acquisitions. With these latest amendments, Ayr has now extended the ...

Los Angeles-In a recent display of law enforcement priorities, the Los Angeles Police Department (LAPD) has made headlines for the confiscation of a substantial quantity of magic mushrooms. This seizure comes amid growing concerns about the allocation of resources and the misdirected focus of authorities on substances that pose significantly less harm compared to deadly ...

TerrAscend Corp., a cannabis operator in North America, has received conditional approval to list its common shares on the Toronto Stock Exchange (TSX), according to an announcement made by the company on Wednesday. This development, subject to customary conditions, holds significant implications for the cannabis industry at large. Expressing his appreciation for the collaborative efforts ...

LOS ANGELES-- Acreage Holdings, a New York-based cannabis multistate operator, has taken steps to streamline its board of directors in preparation for its impending acquisition by Canopy USA, the American subsidiary of Canadian producer Canopy Growth Corp. The move aims to position Acreage for a seamless integration into Canopy's operations and solidify its role within ...

LOS ANGELES-- Body and Mind Inc has successfully obtained all required regulatory approvals to divest its Muskegon, Michigan, dispensary, the company announced on Friday. The transaction, originally outlined in a stock purchase agreement on April 14, reached its completion on June 13. DEP Nevada Inc., a wholly owned subsidiary of Body and Mind, sold all ...

LOS ANGELES–Leafly, a previously well-regarded online cannabis platform, has come under fire for removing two crucial articles that delved into the tragic death of Lorna McMurrey, a 27-year-old cannabis worker. McMurrey collapsed during her shift at a Trulieve cannabis factory in Holyoke, Massachusetts last year. The removal of these investigative pieces raises questions about ...

TORONTO— Humble & Fume Inc. a distributor of cannabis and cannabis accessories in North America, has announced the successful closing of its non-brokered private placement of convertible debenture units. The offering, which was previously announced on June 1, 2023, raised a total aggregate principal amount of C$1,540,000. Each Debenture Unit comprises a C$1,000 principal amount ...

LOS ANGELES-- TerrAscend Corp. a North American cannabis operator, recently finalized the sale of its head office in Mississauga for 19.7 million Canadian dollars ($15 million). The transaction, however, fell short of the initial asking price of CA$24.23 million, as indicated on the real estate website Zolo, which listed the property's address and square footage. ...

LOS ANGELES-- Multistate operator Red White & Bloom Brands (RWB) has announced its intention to acquire financially troubled Canadian cannabis operator Aleafia Health in a share-exchange agreement. The proposed deal comes shortly after Aleafia announced a strategic review following a breach of secured loan terms. Under the agreement, RWB will provide Aleafia with a $17.5 ...

TORONTO-- Canadian cannabis company Cronos Group Inc. has revealed plans to discontinue its hemp-derived CBD operations in the United States by the end of the second quarter of this year. The decision is aimed at bolstering the company's cash flow in the near term while positioning itself for direct entry into the U.S. THC market ...

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 ...