Business

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 ...

NEW YORK-The legalization of cannabis in various states across the USA has brought about significant changes in multiple industries, including law enforcement. One area that has been significantly affected is the use of canine cannabis sniffers. These highly trained dogs have been instrumental in detecting illegal drugs, including cannabis for many years. However, with the ...

NEW YORK-In a groundbreaking decision, the New York Office of Cannabis Management has set in motion a revolutionary plan called the Grower's Showcase to bolster the cannabis industry across New York State and provide crucial support for farmers facing challenges due to a lopsided ratio of cultivation licenses to retail locations. This historic development comes ...

NEW YORK-- Curaleaf Holdings, a cannabis multistate operator (MSO) based in New York, is seeking to follow in the footsteps of TerrAscend by joining the Toronto Stock Exchange (TSX). By making this move, Curaleaf hopes to access a wider pool of investors and enhance its market presence. The news of Curaleaf's aspirations to list on ...

CHICAGO--In a somber announcement, Green Thumb Industries Inc, a prominent U.S. cannabis producer, disclosed on Tuesday that one of its employees had tragically passed away at its Rock Island, Illinois facility last Friday. The news sent shockwaves through the company and raised concerns about worker safety in the cannabis industry. The Teamsters Union, an influential ...

LOS ANGELES-- ACT LAB, a lab testing company in the legal cannabis and hemp markets, has recently announced its successful regulatory approval and completion of the acquisition of Florida lab operations and associated assets from Green Scientific Labs Holdings Inc. With this strategic move, ACT LAB is now on track to establish operations in eight ...

TORONTO — The anticipated merger between Canadian cannabis company Aleafia Health and U.S. multistate cannabis operator Red White & Bloom Brands has been called off, according to an announcement made by the companies. The proposed merger, initially unveiled in June, faced complications due to disagreements among holders of Aleafia's convertible debentures, ultimately leading to the ...

LOS ANGELES-Recent research published in the journal Cannabis and Cannabinoid Research has shed light on an intriguing association between cannabis use and an enhanced running experience. According to the study's data, individuals who used cannabis before hitting the pavement reported greater feelings of enjoyment and tranquility during their runs compared to those who didn't indulge. ...

LOS ANGELES-- TerrAscend Corp., a cannabis operator in North America, has successfully closed a commercial loan of $25 million with Stearns Bank. The loan proceeds will primarily be used to pay down existing debt with higher interest rates, effectively reducing the overall interest expense for the company. The loan carries an interest rate of prime ...

MICHIGAN - Wholesale prices for cannabis flower in Michigan have recently shown signs of leveling off and even a slight uptick, providing a glimmer of hope for producers who have endured a significant decline in prices over the past few years. Michigan is a crucial market for the legal marijuana industry and is projected to ...

  WHATELY, Mass. — In a surprising turn of events, the owners of Club Castaway in Whately have announced their plans to reopen the strip club next month. The establishment, Franklin County's sole strip club, has been closed since the onset of the pandemic in March 2020. However, the owners, Nicholas Spagnola and Julius Sokol, ...

Berlin--In a federal legal setback for the pending decriminalization of cannabis, the Karlsruhe-based Supreme Court has upheld its case law from the 1990s, disregarding several appeals. The ruling, issued by the Third Chamber of the Second Senate of the Federal Constitutional Court, addresses the constitutionality of banning cannabis products, as referred to it by courts ...

NEW YORK-Mars Wrigley, the maker of multi-colored fruit-flavored Skittles candies, has reached a settlement in a trademark infringement lawsuit against Terphogz LLC, a seller of cannabis-related merchandise. The lawsuit centered around Terphogz's marketing of products under the name "ZKITTLEZ," which Wrigley deemed to be a violation of their trademark. Under the proposed permanent injunction filed ...

TORONTO-Cronos Group Inc, (CRON.TO) the Canadian cannabis producer backed by Altria Group Inc, the cigarette maker, has confirmed that it is currently engaged in discussions with potential buyers to explore the possibility of a sale, according to sources familiar with the matter. The news comes after reports by Reuters shed light on the ongoing talks. ...