Business
Idaho Lawmakers Push to Restrict Citizen-Led Ballot Initiatives on Cannabis and Drug Reform
BOISE - Idaho lawmakers have taken a significant step toward restricting citizen-led ballot initiatives related to cannabis and other drug reforms. The Idaho Senate recently passed a House-approved bill that would put a constitutional amendment before voters in the 2026 election. If approved, this amendment would strip the electorate of their ability to pass laws ...
Analysis: Cannabis Capital on the Rise: A Resilient Industry Continues To Grow
NEW YORK–Despite persistent regulatory frustrations, wholesale price compression, slowing growth, and historically low stock prices, the cannabis capital markets are showing unexpected strength. According to Viridian Capital Advisors, global cannabis capital raises surged to $2.3 billion for the last twelve months (LTM) ending March 7, 2025—a 46% increase compared to the prior year. This comes ...
Blueberries Medical Corp. Announces C$1 Million Non-Brokered Private Placement
LOS ANGELES- Blueberries Medical Corp., a Latin American licensed producer of medicinal cannabis and cannabis-derived products, has announced a non-brokered private placement to raise approximately C$1.05 million (approximately US$740,000). Offering Details Common Shares Issued: 96,064,935 Price per Share: C$0.011 Gross Proceeds: Approximately C$1.05 million Expected Closing Date: On or about March 25, 2025 The ...
MindMed Reports 2024 Financial Results and Advances in Clinical Trials
LOS ANGELES- of December 31, 2024, MindMed reported cash and cash equivalents totaling $273.7 million, up from $99.7 million at the end of 2023. This increase is attributed to equity financings totaling approximately $250 million completed during the year, extending the company's operational funding into 2027. Research and development expenses for 2024 were $65.3 million, ...
British American Tobacco Invests $86.8 Million in Organigram
LOS ANGELES- British American Tobacco (BAT), one of the world's largest tobacco companies, has finalized a strategic investment of approximately $86.8 million (C$124.6 million) in Organigram Holdings Inc., a prominent Canadian cannabis producer. This investment, executed through BAT's subsidiary, BT DE Investments Inc., increases BAT's stake in Organigram to 30% of common shares and grants ...
Andy Kovtun Joins Highly Capitalized Network-HCN to Drive Engaging Content Creation
FOR IMMEDIATE RELEASE LOS ANGELES – Highly Capitalized Network-HCN, a leading source of financial news and market insights for the cannabis and psychedelics industries, proudly welcomes Andy Kovtun to its team. With a strong background in content strategy and a passion for the cannabis industry, Andy will play a pivotal role in creating unique and ...
Massachusetts Cannabis Sales Surpass $8 Billion
LOS ANGELES- Massachusetts' legal cannabis industry has achieved significant milestones since the commencement of adult-use sales in November 2018. As of December 2024, adult-use marijuana establishments have reported cumulative gross sales exceeding $7 billion. When combined with medical cannabis sales, which have generated approximately $1.4 billion since December 2018, the total cannabis sales in the ...
Trump’s Tariffs & Social Program Cuts: Potential Impacts On The Cannabis Industry
NEW YORK--Economic policies don’t just shape government budgets; they create ripple effects across industries, shifting market dynamics, consumer behavior, and business strategies. As the cannabis industry continues to grow and normalize, policies under President Trump could determine which businesses thrive and which ones struggle. Two major developments could have profound effects on the cannabis industry: ...
The Unregulated Illicit Cannabis Market Is Booming in California
LOS ANGELES-In 2024, California's legal cannabis production experienced an 11.8% increase, reaching 1.4 million pounds, according to a study commissioned by the state's Department of Cannabis Control (DCC). Despite this growth, the illicit cannabis market continues to overshadow the legal industry, with unauthorized production estimated at 11.4 million pounds. A significant portion of this illicit ...
GTI Q4 2024: Strong Leadership, But Can It Sustain Momentum?
NEW YORK–Green Thumb Industries (GTI) has once again demonstrated why it remains a leader in the U.S. cannabis industry. With a steady growth trajectory and disciplined financial management, the company continues to post strong results in a volatile sector. However, challenges remain, particularly around margin sustainability, regulatory uncertainty, and long-term expansion opportunities. Q4 2024 Financial ...
Analysis: Movers and Shakers: Cannabis Quarterly Earnings
NEW YORK - Cannabis companies are reporting earnings from Q4 2024 and full year results. Here are just some of the results from the companies we are covering at HCN, in both cannabis and psychedelics: 1. Green Thumb Industries (GTI): Q2 2024 Revenue: $280 million, an 11% year-over-year increase. Key Issues: Regulatory challenges, including urging ...
Verano Holdings Reports 2024 Financial Results and Outlines 2025
LOS ANGELES- Verano Holdings Corp., a multi-state cannabis operator, has released its financial results for the fourth quarter and full year ending December 31, 2024, highlighting a decrease in revenue and an increase in net losses. Financial Performance Revenue: The company reported fourth-quarter revenue of $218 million, marking an 8% decrease compared to the same ...
Solvonis Therapeutics to Acquire Awakn Life Sciences in Strategic Biotech Merger
LOS ANGELES- Solvonis Therapeutics PLC, a UK-based biotechnology firm specializing in treatments for mental health and substance use disorders, has entered into an agreement to acquire Awakn Life Sciences Corp., a Toronto-based company developing therapeutics for addiction. The transaction, valued at approximately £5 million, will involve Solvonis issuing around 2.07 billion new shares to Awakn ...
Cronos Group Reports $8.7 Million in Operating Expense Savings for FY2024
LOS ANGELES- Cronos Group Inc. has announced operating expense savings of $8.7 million for the fiscal year 2024, aligning with its previously stated target range of $5 million to $10 million. These savings were primarily achieved through reductions in general and administrative costs, research and development expenditures, and sales and marketing expenses. In its fourth-quarter ...
Minnesota Considers Allowing Liquor Wholesalers to Distribute Low-Potency Hemp Edibles
LOS ANGELES -A bipartisan bill introduced in the Minnesota House of Representatives seeks to permit licensed liquor wholesalers to distribute low-potency hemp edibles. Sponsored by Representatives Zack Stephenson (D) and Nolan West (R), House File 1735 aims to integrate these hemp-derived products into the existing liquor distribution framework. Under the proposed legislation, liquor wholesalers would ...
New Study Suggests Medical Cannabis Highly Cost-Effective Treatment for PTSD
LOS ANGELES-A recent study highlights the affordability and effectiveness of medical cannabis as a treatment for individuals with moderate post-traumatic stress disorder (PTSD). Conducted by researchers at Leafwell, the study suggests that medical cannabis could improve patient health outcomes while potentially lowering overall healthcare costs, even for those without comprehensive insurance coverage. Researchers evaluated the ...
Sà Wea: Pioneering African Heritage and E-Commerce Innovation in the Luxury Cannabis Industry
LOS ANGELES — In the cannabis industry, often lacking cultural diversity and unique storytelling, Sà Wea Luxury Inc. stands out as the first luxury cannabis lifestyle brand to integrate African heritage into its identity. Founded by Julia Fofanah, a first-generation Liberian American, Sà Wea redefines cannabis consumption by fusing high-end design, cultural pride, and digital ...
Bright Green Corporation Completes Restructuring, Exits Cannabis Sector
LOS ANGELES- Bright Green Corporation has finalized its restructuring plan, marking a strategic shift from the cannabis industry to the production of all U.S. Drug Enforcement Administration (DEA) scheduled controlled substances. This decision includes an agreement with the DEA to withdraw all cannabis-related renewal applications, with the possibility of reinstatement contingent upon future federal guidelines ...
Greenlane Holdings Completes $25 Million Private Placement to Strengthen Financial Position
LOS ANGELES -Greenlane Holdings, Inc, a seller of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, has successfully closed a $25 million private placement. The offering, priced at $1.19 per Common Unit, was conducted in accordance with Nasdaq regulations. Details of the Offering The private placement involved the sale of 21,008,405 Common Units, each ...
Minnesota Opens Application Window for Cannabis Business Licenses
LOS ANGELES- The Minnesota Office of Cannabis Management (OCM) has commenced accepting applications for various cannabis business licenses as of February 18, 2025. This marks a significant step toward establishing the state's legal cannabis market. The application period will remain open until March 14, 2025. License Types and Application Process Prospective applicants can apply for ...
What You Need to Know About Risk Management and Insurance in Cannabis
LOS ANGELES—Every CFO needs to know that the cannabis industry is fraught with unique risks that require specialized risk management strategies and comprehensive insurance coverage. As companies navigate this complex landscape, understanding these risks and securing adequate protection is essential to safeguarding operations and ensuring long-term viability. Unique Risks in the Cannabis Industry Regulatory Risks ...
New Lawsuit Accuses CCELL of Price-Fixing & Monopoly Tactics
LOS ANGELES — February 14, 2025 A class action lawsuit has been filed against Smoore, the parent company of CCELL, and its U.S. distributors, accusing them of engaging in illegal price-fixing and monopolistic practices that have driven up costs in the cannabis vape hardware market. The suit, initiated by Arizona-based Earth’s Healing, Inc., claims violations ...
Understanding Price Compression and Market Trends in Cannabis
LOS ANGELES—Every CFO needs to know that price compression is a pressing challenge in the cannabis industry, driven by increased competition, oversupply, and constantly shifting consumer demands and preferences. As prices decline, it becomes increasingly difficult to maintain profitability. To combat this phenomenon, CFOs must take strategic actions that include effective cost management, brand differentiation, ...
What You Need to Know: Mergers, Acquisitions, and Consolidation
LOS ANGELES—Every CFO needs to know that navigating mergers, acquisitions, and consolidation in cannabis and psychedelics industries requires a deep understanding of business valuation complexities and strategic deal-making. Effective M&A strategies are crucial to driving growth, expanding market share, increasing operational efficiency, ultimately contributing to the continued evolution of the industry. Valuation Complexities Valuing cannabis ...
TILT Holdings Divests Massachusetts Dispensaries for $2 Million
LOS ANGELES- TILT Holdings Inc., a cannabis business solutions provider, has entered into an agreement to divest two of its Massachusetts dispensaries to In Good Health, a private single-state cannabis operator, for $2 million in cash. Under the terms of the agreement, TILT will transfer ownership of its Taunton dispensary to In Good Health and ...
