Business

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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, ...

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 ...

ST LOUIS- Missouri courts have expunged more than 140,000 cannabis-related cases since voters approved a constitutional amendment in 2022 to legalize recreational cannabis. However, the total number of expungements is unlikely to grow significantly beyond this point. As part of the amendment, courts were mandated to search their records for eligible cannabis-related charges and remove ...

LOS ANGELES- In 2024, Illinois' legal cannabis market achieved sales exceeding $2 billion, marking a 2.5% increase from the previous year. This total comprises approximately $1.722 billion in adult-use cannabis sales and over $285 million in medical cannabis sales. The state collected more than $490 million in sales taxes from these transactions. A record-setting 56,318,082 ...

LOS ANGELES- The legal cannabis industry in California is confronting significant financial challenges as a proposed increase in the state excise tax looms. Currently set at 15%, the tax is scheduled to rise to 19% on July 1, 2025, unless state lawmakers intervene. Industry stakeholders express concern that this tax hike could exacerbate existing financial ...

LOS ANGELES- Aurora Cannabis Inc. has announced a significant increase in revenue for its fiscal third quarter, primarily due to substantial growth in international medical cannabis sales. The company's total net revenue reached C$88.2 million, marking a 37% rise from the same period last year. Medical cannabis revenue accounted for C$68.1 million of this total, ...

LOS ANGELES- The New York Office of Cannabis Management (OCM) has launched a Cannabis Banking Directory to assist licensed cannabis businesses in identifying financial institutions willing to provide banking services. This initiative aims to mitigate challenges faced by cannabis operators in securing compliant financial services. The directory lists ten financial institutions, including seven banks and ...

LOS ANGELES- The Super Bowl presents a significant opportunity for cannabis businesses to enhance brand and product awareness, despite existing advertising limitations. While traditional advertising channels during the Super Bowl remain inaccessible to cannabis companies due to federal regulations and network policies, many brands have adopted alternative strategies to capitalize on the event's massive viewership. ...

LOS ANGELES- Enveric Biosciences, Inc.  recently implemented a 1-for-15 reverse stock split, effective January 29, 2025, to comply with Nasdaq's minimum bid price requirement. Following the split, the company conducted a public offering, raising $5 million through the issuance of 1.67 million shares priced at $3 each, accompanied by Series A and B warrants. This ...

LOS ANGELES- Frontier Risk Group, a company specializing in insurance solutions for the cannabis industry, has announced the successful completion of a $3 million Seed+ funding round. This round was led by Casa Verde, a venture capital firm focused on the cannabis sector, with significant participation from existing investors. The funding will support Frontier Risk ...

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 ...

LOS ANGELES—Every CFO needs to know that strategic capital investment in the cannabis and psychedelic industries requires a nuanced approach that balances innovation, risk management, and potential. As the market continues to transform and unfold, understanding where and how to allocate capital can spell the difference between merely surviving and truly thriving in a highly ...

LOS ANGELES- In Florida's evolving medical cannabis landscape, smaller operators are making significant inroads, challenging the dominance of established multi-state operators (MSOs). Despite the state's stringent vertical integration requirements—which mandate that Medical Marijuana Treatment Centers (MMTCs) oversee cultivation, processing, and dispensing—these emerging players are finding ways to thrive. As of January 2025, Florida's medical cannabis ...

LOS ANGELES- New York State is experiencing a significant increase in tax revenue from legal cannabis sales. For the fiscal year ending March 31, 2025, the state anticipates collecting $161.8 million, a fourfold increase from the previous year. Projections for the following fiscal year estimate revenues of $248 million, with expectations to reach $374 million ...