News
Cansortium Completes Merger with RIV Capital
LOS ANGELES- Cansortium Inc., operating under the Fluent brand, has finalized its merger with RIV Capital Inc., establishing a multi-state cannabis operator with a presence in Florida, New York, Texas, and Pennsylvania. The merger results in a combined entity operating 42 dispensaries and eight cultivation and processing facilities across these four states. Cansortium shareholders hold ...
Psyence Biomed Completes $2 Million Private Placement
LOS ANGELES- Psyence Biomedical Ltd. , a biotechnology firm specializing in psilocybin-based psychedelic medicines, has finalized a private placement, securing approximately $2 million in gross proceeds. The financing involved the issuance of 1,000,000 common shares at $2.00 per share, accompanied by series A and series B common warrants. Both warrant series are immediately exercisable at ...
Cannabis Industry Forecast for 2025: A Year of Transformation
LOS ANGELES—As the calendar turns to 2025, the cannabis industry stands on the brink of transformation. This year could mark a pivotal point, shaped by evolving policies, shifting consumer preferences, and new market opportunities on both local and global scales. Let’s explore the trends and challenges that could define the cannabis landscape in what promises ...
Travis Ahern Named Executive Director of Massachusetts Cannabis Commission
LOS ANGELES- The Massachusetts Cannabis Control Commission (CCC) has selected Holliston Town Manager, Travis Ahern, as its new Executive Director. Ahern's appointment follows a comprehensive search process that began earlier this year. He was among four finalists who participated in public interviews in October. The CCC initially extended the offer to David Lakeman, a former ...
Kaya Holdings Unveils Psilocybin Therapy Series at Sacred Mushroom Center
LOS ANGELES- Kaya Holdings, Inc. a in wellness and mental health solutions, has announced an inaugural open house event for its psilocybin treatment center, The Sacred Mushroom™. The event will take place on Friday, December 27, 2024, from 5:00 PM to 8:00 PM, at its facility in Portland, Oregon. The open house offers attendees an ...
Psyence Biomedical Regains Nasdaq Compliance
LOS ANGELES- Psyence Biomedical Ltd. (Nasdaq: PBM) has regained compliance with all Nasdaq continued listing requirements, as confirmed by the Nasdaq Hearings Panel. The company had previously requested a transfer from The Nasdaq Global Market to The Nasdaq Capital Market, effective November 15, 2024. This strategic move enabled Psyence Biomedical to meet specific listing criteria, ...
MariMed Launches Wholesale Cannabis Operations in Missouri
LOS ANGELES- MariMed Inc, a multi-state cannabis operator, has initiated wholesale operations in Missouri, marking its expansion into a sixth revenue-generating state. The company's premium product lines—including Betty’s Eddies™ fruit chews, Bubby’s Baked™ confections, Vibations™ hydrating drink mixes, and InHouse™ flower, vapes, and gummies—are now available in select dispensaries across the state. MariMed plans to ...
LEEF Brands Closes CAD $500K Financing Round
LOS ANGELES- LEEF Brands Inc. , a California-based cannabis extraction and manufacturing company, has successfully closed the second tranche of its private placement financing, securing an additional CAD $500,000. This follows the first tranche, which raised CAD $2,118,375, bringing the total gross proceeds to CAD $2,618,375, surpassing the initial target. The financing involved issuing 2,000,000 ...
FDA Restricts Psychoactive Mushroom in Edibles
LOS ANGELES- The U.S. Food and Drug Administration (FDA) has issued a warning regarding the use of Amanita muscaria (fly agaric) mushrooms and their psychoactive compounds—muscimol, ibotenic acid, and muscarine—in food products. The FDA has determined that these substances are not approved for use in conventional foods and may pose health risks to consumers. This ...
How to Read an Income Statement Like A Boss: Lessons from P&G
LOS ANGELES--At Procter & Gamble (P&G), we were taught to analyze financial statements with precision, breaking them down into actionable insights that link business performance to strategy. Cannabis companies can apply these same principles to their financial management, as cannabis is fundamentally a consumer packaged goods (CPG) product. Here’s a practical guide using Tide, one ...
Aurora Cannabis Expands Distribution in Australia
LOS ANGELES- Aurora Cannabis Inc. has announced a distribution partnership between its wholly owned subsidiary, MedReleaf Australia, and The Entourage Effect, a company that provides distribution and support services to pharmacies in Australia. Under this agreement, The Entourage Effect will act as a wholesaler for MedReleaf Australia's product lines, including CraftPlant, Aurora, and IndiMed brands. ...
Weedmaps Founders Propose to Take Company Private
LOS ANGELES- Co-founders Doug Francis and Justin Hartfield of WM Technology, Inc., the parent company of Weedmaps, have proposed to take the company private. They offered $1.70 per share in cash for the approximately 68% of shares they do not currently own, valuing the company at about $100 million. This proposal represents a 39% premium ...
The Benefits of Using Hydroponics for Cannabis Cultivation
LOS ANGELES--Hydroponics, the practice of growing plants in a water-based, nutrient-rich solution rather than soil, has become increasingly popular among cannabis cultivators. This method offers several advantages, particularly when it comes to optimizing growth, enhancing yields, and improving the overall quality of cannabis plants. In this article, we’ll explore the key benefits of using hydroponics ...
The Global Growth of Hydroponics in Cannabis Cultivation
LOS ANGELES--The hydroponics industry is experiencing unprecedented growth worldwide, driven largely by its increasing adoption in the cannabis sector. As cannabis legalization expands across continents, cultivators are turning to hydroponic systems to meet the demand for high-quality, sustainable, and efficient crop production. This article explores the factors contributing to the global rise of hydroponics in ...
Vireo Goes on Shopping Spree Becoming a New Cannabis MSO
NEW YORK--Cannabis multistate operator (MSO) Vireo Growth has taken a significant leap forward by securing $75 million in equity financing and acquiring four companies, including three single-state operators and a delivery and analytics platform. This marks a major milestone for the Minneapolis-based company, expanding its footprint and strengthening its market position. Details of the Acquisitions ...
Federally Funded Survey: Cannabis Use By Teens Hits Historic Low
WASHINGTON, D.C- (NORML) Federally funded survey data provided by the University of Michigan reports that teen marijuana use has declined significantly over the past decade and is now at historic lows. Consistent with data previously reported by the Centers for Disease Control and Prevention and the National Survey on Drug Use and Health, the University of Michigan’s annual Monitoring the Future ...
Organigram Expands Market Presence with Strategic Investments and Acquisitions
LOS ANGELES- Organigram Holdings Inc., a Canadian cannabis producer, is actively broadening its market reach through strategic investments and acquisitions, supported by British American Tobacco (BAT). In November 2023, Organigram secured a follow-on strategic equity investment of approximately CAD 124.6 million from BT DE Investments Inc., a wholly-owned subsidiary of BAT. This investment is being ...
Tennessee Judge to Rule on Hemp Product Regulations by December 24
LOS ANGELES- A Davidson County Chancery Court judge is expected to decide by December 24, 2024, on a request to block new state regulations affecting hemp-derived products in Tennessee. The Tennessee Department of Agriculture (TDA) has introduced rules, effective December 26, 2024, that prohibit the sale of hemp products containing more than 0.3% tetrahydrocannabinolic acid ...
What You Need to Know When Planning Cannabis Tax Strategies for 2025
NEW YORK--Every CFO needs to know that Section 280E of the Internal Revenue Code (IRC) presents a significant challenge for cannabis businesses operating in the United States. This provision, enacted in 1982, was originally designed to prevent drug traffickers from claiming tax deductions. However, its implications have far-reaching effects on legal cannabis operations today, as ...
How Cannabis Companies Can Raise Capital in a Challenging Environment
NEW YORK-The cannabis industry has seen impressive growth over the last decade, but the landscape has become more challenging as businesses face regulatory hurdles, tax burdens, and market saturation. Despite these obstacles, cannabis companies can still raise capital by employing strategic planning, maintaining strong investor relations, and tapping into creative funding avenues. In this article, ...
Canopy Growth Finalizes Acquisition of Acreage Holdings
LOS ANGELES- Canopy Growth Corporation, a Canadian cannabis company, has completed its acquisition of Acreage Holdings through its U.S. subsidiary, Canopy USA, LLC. This transaction grants Canopy USA full ownership of Acreage Holdings, a multi-state cannabis operator based in New York. The acquisition was finalized with Canopy issuing approximately 5.89 million shares, valued at around ...
Virginia Democrats Plan to Reintroduce Cannabis Sales Legislation Amid Governor’s Opposition
LOS ANGELES- In Virginia, Democratic legislators are preparing to reintroduce a bill to establish a regulated market for adult-use cannabis sales. This initiative follows Governor Glenn Youngkin's veto of similar legislation in March 2024, citing concerns over public health and safety. The previous bill, passed by the Virginia General Assembly, aimed to commence legal retail ...
Exploiting the 2018 Farm Bill Loophole: The Rise of Legal Hemp in the Non-Legal Cannabis Market
LOS ANGELES--The regulatory landscape for cannabis in the United States has changed significantly since the passage of the 2018 Farm Bill, which legalized the cultivation of hemp and its derivatives. This legislation inadvertently created a loophole that allows companies to market and sell hemp-derived products, including those containing psychoactive cannabinoids like delta-8 THC, even in ...
Section 280E Tax Law Challenges Cannabis Industry
LOS ANGELES- Section 280E of the Internal Revenue Code presents significant financial challenges for cannabis businesses by prohibiting the deduction of ordinary business expenses associated with the trafficking of Schedule I or II controlled substances, which includes cannabis. This results in higher effective tax rates for these businesses compared to those in other industries. Enacted ...
Wisconsin Senate Minority Leader Proposes Medical Cannabis Legalization for 2025
LOS ANGELES- Senate Minority Leader Melissa Agard (D-Madison) has announced plans to introduce legislation to legalize medical cannabis in Wisconsin during the 2025 legislative session. This initiative builds upon previous efforts that have encountered resistance from Republican lawmakers. Agard intends to reintroduce a bill similar to her 2022 proposal, which sought to establish a medical ...
