Business

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, ...

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 ...