Business

NEW YORK—The leading East Coast cannabis conference and trade show, CWCBExpo, returns to the Javits Convention Center, June 5-6, 2024 with immersive exhibit floor experiences, top education as well as plenty of business building opportunities and after parties.  This year CWCBExpo has partnered with the New York Cannabis Workforce Initiative (CWI) offering attendees a unique ...

LOS ANGELES- Cansortium, a Florida-based vertically integrated cannabis operator, is set to merge with RIV Capital, operator of the Etain Health cannabis brand in New York. Under the merger terms, Cansortium will acquire all issued and outstanding Class A common shares of RIV Capital in exchange for Cansortium shares. Shareholders of Toronto-based RIV Capital will ...

LOS ANGELES- Missouri's cannabis tax revenue has generated over $19 million, which has been allocated to support military veterans, expand substance use treatment programs, and fund the state's Public Defenders System, according to the Missouri Independent. Last fall, each program received $1.3 million, with an additional $5.1 million each distributed earlier this month. Amy Moore, ...

NEW YORK- The owner of seven unlicensed cannabis shops in New York has been fined $15.2 million for operating without a license, ignoring multiple official notices, and selling cannabis to underage customers. New York Attorney General Letitia James announced the fines against David Tulley, owner of the "I'm Stuck" and "Weed Warehouse" chains, as reported ...

LOS ANGELES- Two cannabis dispensaries in Massachusetts, Island Time on Martha’s Vineyard and The Green Lady Dispensary on Nantucket Island, have filed a lawsuit against state regulators. The suit challenges restrictions that prevent them from shipping cannabis inventory by boat, endangering their operations due to their island locations. Filed in Suffolk County Superior Court, the ...

LOS ANGELES- atai Life Sciences, a leading company in the mental health biopharmaceutical sector, has announced significant progress in its clinical trials and a strategic leadership transition, underscoring its commitment to advancing mental health care. Clinical Trials: Breakthroughs and Expectations The first quarter of 2024 has seen notable milestones for atai Life Sciences. A major ...

NEW YORK- At 1 p.m. on May 16, Biden shared a video on X, declaring the U.S. Department of Justice's decision to reclassify cannabis. This announcement led to a swift increase in cannabis-related stocks, reflecting growing market excitement. Forbes reported that Canopy Growth Corp. shares closed at approximately $11, marking an over 11% increase to ...

LOS ANGELES- Canopy Growth, a cannabis producer based in Smiths Falls, Ontario, has raised approximately $50 million (68 million Canadian dollars) in gross proceeds through an exchange and subscription agreement with an institutional investor. The company announced this development on Friday, specifying that the net proceeds will be used for working capital and general corporate ...

WASHINGTON, D.C. - President Joe Biden is officially advancing plans to ease federal cannabis restrictions. Today, Biden announced his administration's intention to reclassify cannabis from the most restrictive category on the federal list of illegal drugs to a moderately restrictive category. "This is monumental," Biden stated in a video posted to X regarding the reclassification, ...

LOS ANGELES- The Ohio Joint Committee on Agency Rule Review (JCARR) has approved new regulations to allow medical cannabis dispensaries to sell adult-use products starting June 7, 2024. This development follows the voter approval of Issue 2 in November 2023, which legalized adult-use cannabis in the state, making Ohio the 24th state to do so. ...

NEW YORK-  Enveric Biosciences is actively pursuing licensing agreements that could potentially net the company up to $410 million in milestone payments. This initiative follows a newly announced partnership with MindBio and comes amidst the company's efforts to advance a leading non-hallucinogenic asset, according to an earnings release issued on Wednesday. During the first quarter ...

LOS ANGELES- As of April 2024, the global landscape for recreational cannabis legalization remains limited, with only nine countries having fully legalized its use nationwide, according to Visual Capitalist. Notably, Germany recently joined Malta and Luxembourg as the third European Union member to legalize cannabis for personal use. Among the countries where recreational cannabis is ...

NEW YORK- Cannabis retailers in New Jersey have achieved a new quarterly sales record of $201 million in the first three months of 2024. This represents a notable 38% increase in year-over-year growth and sets a new high for the state's burgeoning adult-use cannabis market. Despite this milestone, the New Jersey Monitor points out that ...

LOS ANGELES- Recent reports have highlighted a significant decline in the number of registered medical cannabis patients in New Jersey and New Mexico, following the launch of adult-use cannabis markets in both states. According to the New Jersey Monitor, the count of medical cannabis patients in New Jersey has decreased to approximately 80,000 as of ...

LOS ANGELES- Recent data from New Jersey and New Mexico has highlighted a significant decrease in the number of registered medical cannabis patients, coinciding with the establishment of adult-use cannabis markets in these states. Reports indicate that in New Jersey, the count of medical cannabis patients has dropped from a peak of approximately 129,000 in ...

LOS ANGELES- Canopy Growth Corp., a Canadian cannabis producer, announced a new round of funding, securing approximately $50 million through a financing deal. This funding follows a $35 million capital raise in January and comes at a time when the company is grappling with financial difficulties, including high debt levels and operational losses. Under the ...

LOS ANGELES- Las Vegas-based multistate cannabis operator Planet 13 Holdings Inc. is poised to expand its footprint in the Florida medical cannabis market following regulatory approval to sell its existing license in the state. The company announced on April 29 that it received approval for the sale of its subsidiary, Planet 13 Florida Inc., to ...

WASHINGTON, D.C.- In a landmark development, the Drug Enforcement Administration (DEA) has made a historic decision, concurring with the recommendations of the top federal health agency to reclassify cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA). This shift represents a significant departure from the longstanding classification that has persisted for ...

NEW YORK- RIV Capital Inc. an investment and acquisition firm, today reported its financial outcomes for the fiscal quarter and the nine-month period ending December 31, 2023. This period marks a transition following the adjustment of the company's fiscal year end from March 31 to December 31. Comprehensive details about this fiscal change are documented ...

LOS ANGELES- On April 20th, the cannabis community celebrates a day of significance – a day marked not only by camaraderie but also by substantial commercial activity. However, this year’s 4/20 brought a bitter experience for many marijuana retailers relying on the Dutchie e-commerce system. According to reports by MJBizDaily, Dutchie's point-of-sale (POS) software experienced ...

LOS ANGELES- Nature's Miracle Holding Inc., a vertical farming technology, has successfully completed its acquisition of Agrify Corporation, a provider of advanced cultivation and extraction solutions. This merger positions the combined entity at the forefront of the Controlled Environment Agriculture (CEA) industry, leveraging each company's strengths to enhance their market presence and technological capabilities. By ...

LOS ANGELES- In a significant step towards the establishment of its medical cannabis program, Kentucky Governor Andy Beshear announced plans for a lottery to allocate the state's initial medical cannabis business licenses. Scheduled for October, this method aims to ensure a fair distribution process, set to precede the program's expected launch on January 1, 2025. ...