Business

LOS ANGELES- SNDL Inc. has announced plans to acquire the remaining 34.8% of Nova Cannabis Inc. shares that it does not already own in a deal valued at approximately C$40 million. The transaction will consolidate SNDL's ownership of Nova, strengthening its position in Canada’s cannabis retail market. Under the agreement, SNDL will pay C$1.75 per ...

LOS ANGELES- Verano Holdings Corp., a major multi-state cannabis operator, has announced agreements to acquire the Arizona and Virginia operations of The Cannabist Company Holdings Inc. The $105 million deal positions Verano to enter the Virginia market ahead of a potential adult-use program and expand its presence in Arizona. Under the terms, Verano will acquire ...

LOS ANGELES- Tilray Brands has announced the acquisition of four craft breweries from Molson Coors, marking a significant expansion of its U.S. operations. The financial details of the deal were not disclosed. The acquired breweries include Hop Valley Brewing Co. (Oregon), Terrapin Beer Co. (Georgia), Revolver Brewing (Texas), and Atwater Brewery (Michigan). Tilray expects to ...

LOS ANGELES — An international award-winning cannabis company backed by 15 years of clinical research, Tikun Olam, knows a thing or two about growing world-class crops.  They also know that optimizing their facility protocols can lead to dramatic gains in potency, yield, and profit. With over 60,000 square feet of greenhouse space and more than ...

LOS ANGELES- Trulieve announced its financial results for the second quarter ending June 30, 2024. The results, reported in U.S. dollars and following U.S. Generally Accepted Accounting Principles (GAAP), reflect continued growth and operational expansion. Revenue and Sales Performance Trulieve achieved a revenue of $303 million, showing a 2% increase from the previous quarter and ...

LOS ANGELES- New York City has intensified its efforts to close nearly 3,000 unlicensed cannabis dispensaries, a move that could provide a boost for legal retailers struggling with high rents and intense competition. Since the state authorized the crackdown last month, hundreds of illegal shops have been shut down, with many more voluntarily closing to ...

CLEVELAND- Starting Tuesday, Ohioans aged 21 and over will have the opportunity to purchase recreational cannabis without needing a medical card. This marks a significant change in the state's cannabis regulations. The Ohio Department of Commerce Division of Cannabis Control is issuing its first set of dual-use Certificates of Operation (COO) to 98 dispensaries across ...

CLEVELAND, Ohio – The Ohio Cannabis Health & Business Summit (OCHBS) is thrilled to announce its annual conference, scheduled for October 4-5, 2024, at the I-X Center in Cleveland, Ohio. Since its inception in 2019, OCHBS has been committed to supporting and growing the Ohio cannabis industry. As the state prepares to expand its program ...

LOS ANGELES- Canadian cannabis company SNDL Inc. has announced a significant financial restructuring plan, which includes the elimination of 106 full-time positions. The restructuring aims to optimize corporate overhead spending and consolidate its cannabis segments under the leadership of Tyler Robson. SNDL expects this move to result in annual savings of $20 million, with a ...

LOS ANGELES- On Monday, Argus reaffirmed its Buy rating on shares of Constellation Brands (NYSE: STZ), maintaining a price target of $306.00. Argus notes the stock's value, currently trading at 18 times the firm's fiscal year 2025 earnings estimate, and supports a higher multiple due to expected sales and earnings growth. Constellation Brands, known for ...

LOS ANGELES- Snoop Dogg has launched his first licensed cannabis dispensary, S.W.E.D., and an exclusive product line under the Death Row Cannabis brand. The shop, located near LAX airport in Los Angeles, opened on July 14. In early 2022, Snoop Dogg acquired Death Row Records (DRR), known for its influential role in hip-hop. Following this ...

LOS ANGELES- In the latest market close, Canopy Growth Corporation (CGC) reached $6.50, marking a +0.31% increase compared to the previous day. This performance was below the S&P 500's daily gain of 0.55%. Meanwhile, the Dow and the tech-heavy Nasdaq saw increases of 0.62% and 0.63%, respectively. Over the past month, Canopy Growth's shares have ...

NEW YORK--In the dynamic world of business, arrogance often precedes downfall. This truth is vividly illustrated in the rise and fall of Nokia, once a titan in the mobile phone industry. Years ago, during a pivotal moment in my career, I witnessed firsthand how arrogance can blind companies to innovation and lead to their eventual ...

LOS ANGELES- Kentuckians can now apply for cannabis business licenses, and medical providers can seek permission to prescribe cannabis through Kentucky’s Board of Medical Licensure and Board of Nursing. This follows the enactment of bipartisan House Bill 829, which accelerated the medical cannabis timeline from January 2025 to July 1, 2024. The 2023 legislative session ...

LOS ANGELES--California's cannabis industry is reeling from a recent pesticide scandal that has undermined consumer confidence and highlighted regulatory shortcomings. An investigation by the Los Angeles Times, in collaboration with WeedWeek, revealed alarming levels of pesticides in cannabis products sold across the state. The findings have put the spotlight on the state's regulated cannabis market, ...

WASHINGTON, D.C. - In a landmark ruling, the Supreme Court has overturned a 40-year-old precedent known as "Chevron deference," which mandated that courts defer to the interpretations of federal agencies when a law is ambiguous, provided those interpretations are reasonable. This decision, second only to the court's recent ruling on presidential immunity from criminal prosecution, ...

MIAMI, Florida--In a recent announcement, the Internal Revenue Service (IRS) underscored the ongoing enforcement of Internal Revenue Code Section 280E, a tax code provision that has long been a contentious issue for cannabis businesses. The announcement comes amidst a wave of refund claims filed by cannabis operators, prompting a stern reminder from the IRS that ...

LOS ANGELES- Cronos Group's $51 million credit line will enhance production and facilitate global market expansion, positioning the company as a key player in the burgeoning cannabis industry. Canada’s Cronos Group has announced that it has secured a $51 million credit line through its subsidiary, Cronos Growing Co. This investment aims to address the increasing ...