Business

NEW YORK - In a pivotal move, the New York Cannabis Control Board has greenlit a comprehensive set of regulations that lays the foundation for a significant expansion of the Empire State's burgeoning cannabis industry. The regulations, enthusiastically approved by the Cannabis Control Board, meticulously detail the licensing and operational protocols for various facets of ...

NEW YORK-- In a significant move that could reshape the cannabis landscape in New York, state regulators voted on Tuesday to permit existing medical cannabis operators to apply for adult-use retail licenses. This decision potentially positions these operators to dominate what is anticipated to be one of the largest markets on the East Coast. The ...

LOS ANGELES–California is poised to become the third state in the nation to decriminalize the use of psychedelics, following the State Assembly's recent approval of a bill. This legislation would grant individuals aged 21 and older the right to possess and utilize limited quantities of natural psychedelic substances like psilocybin (found in hallucinogenic mushrooms), dimethyltryptamine ...

LOS ANGELES–California is poised to become the third state in the nation to decriminalize the use of psychedelics, following the State Assembly's recent approval of a bill. This legislation would grant individuals aged 21 and older the right to possess and utilize limited quantities of natural psychedelic substances like psilocybin (found in hallucinogenic mushrooms), dimethyltryptamine ...

LOS ANGELES-- In a strategic shift indicative of changing market dynamics, Tilt Holdings, a prominent Phoenix-based cannabis operator, has resolved to sever its ties with a cannabis partnership initiated with the Shinnecock Nation. A mere three weeks after divulging its intention to reassess the business arrangement, the firm has formally announced the sale of its ...

TORONTO — Mindset Pharma Inc. based in Toronto, is set to be acquired by the Japan-based Otsuka Pharmaceutical Co. via its American subsidiary. This all-cash deal, announced Thursday, is valued at about C$80 million ($59.15 million). The terms of the agreement denote that for every share held, Mindset shareholders will obtain $0.75 in cash. This ...

ATLANTA — Georgia's Access to Medical Cannabis Commission (GMCC) has given the nod to three additional dispensary locations, augmenting the availability of low-THC oil products for patients across the state. During the public meeting on August 23, members of the GMCC unanimously approved these new locations. One of the giants in the cannabis industry, Florida-based ...

LONDON — The Association of the Cannabinoid Industry (ACI), a key trade group in the United Kingdom, has voiced its concerns over the prolonged delay by the country's Home Office in establishing a clear regulatory framework for cannabidiol (CBD) products. CBD, a non-psychoactive compound derived from the cannabis plant, has been available on U.K. store ...

NEW YORK — In what could be described as the burgeoning movements within the psychedelics sector, Cybin , a clinical-stage biopharmaceutical firm, has announced its intention to acquire U.K.'s Small Pharma. This move sparks dialogue on potential shifts and consolidations anticipated in the industry. Under the agreed terms, Small Pharma shareholders are set to receive ...

LOS ANGELES — The U.S. cannabis industry, still in its nascent stages, witnessed notable shifts in 2023 with a projected reduction in states reaching the billion-dollar mark in retail sales, according to a comprehensive report by Cannabis Business Times. Eight states are expected to achieve this benchmark, down from nine in 2021. Traditional leaders like ...

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 ...